THE ESSENCE OF RUNNING MASTERNODES ON THE VENA NETWORK

INTRODUCTION

The world is developing at a very fast rate with the help of technology bringing out so many breakthroughs in the different sectors of the world and it was very much not surprising when a technological breakthrough in terms of payment system was invented in January 2009. Crpytocurrency dates way back in 2008 but was officially launched in January 2009 by a genious who does not want to be known but is popularly called Satoshi Nakamoto. The very first cryptocurrency to be launched was Bitcoin and ever since then so many cryptocurrencies have been generated into the system with popular among them being Ethereum, Litecoin, Dash etc.

Masternodes in the layman terms, simply means a network of computers that are connected over a network which communicate with each other. Individual computers within the system are referred to as nodes whiles some designated computers within the network that are tasked with special functions within the network are referred to as Masternodes. For example, within the Dash ecosystem nodes mine for new coins and the masternodes within network perform functions such as Instant Send and Private Send. There are several networks of Masternodes that are in operation but in this blog of mine, I would want to promote the Masternode Network that I think has the best of reward system and also has a secured platform which conducts transactions at a very fast rate than you can imagine.

Even though Masternode network have proven to be very beneficial unto the cryptospace, most of the existing masternode network have very common challenges that makes it not attractive for investors to come on board and run masternodes. This problem has really made the market cap of masternodes quite stagnant for quite some time now without any significant growth.

** RUNNING MASTERNODE ON THE VENA NETWORK**

Running masternode on the Vena Network has been made very simple with very little difficulty. To make the Vena Network fully decentralized and also to prevent any form of centralization the team has decided to run masternode on the Vena platform. Every member of the Vena Community can run masternode on the network but certain requirements have to be met before one can run a masternode on the network.

First of all, users who wish to run masternode on the Vena Network are to make initial deposit of Vena Tokens. This initial deposit of Vena Tokens is to ensure that members managing several aspects of the network do not attack the network. To make things safer, any specific node that is suspected of any malicious attempts to attack the network would lose his personal stake of Vena Tokens into the main pool which would be shared among the honest nodes within the network.

Secondly, the main functions of running masternode on any network are to ensure that transactions are confirmed at a very fast rate and they are done in a private manner by the use of Zerocoins system, Coin mixing etc. Some crypto enthusiasts don’t actually feel safe with the fact that their cryptocurrency portfolio can be explored by almost everybody and see his holdings, therefore the invention of masternodes to make transactions more private.

In as much as these nodes are performing the functions of instant send and private send on the network they would also earn income from the moderate fees that are charged per each transaction. This is going to be a constant way of earning passive income from the running of nodes within the network. Users would have their funds directly sent into their personal wallet to prevent any speculations of the system or the network absconding with the funds of its members.

SAFETY ON THE VENA NETWORK

The huge level of anonymity within the crypto community always makes it very essential to put certain security measures in place and the Vena Network has the perfect security system installed. The Jury Network is one of the security measures put in place by the team to ensure that the Vena Network is free from any attacking nodes and all smart contracts are adhered to. The Jury Network would act as an arbitrator in the settling of disputes over the network and one may raise the concern of the loyalty, honesty and truthfulness of the members of the Jury Network. Well Vena has that also covered by requiring all members of the Jury Network to make an initial deposit of Vena Tokens in order to act as an arbitrator.

In any member flaws in his judgements intentionally his initial deposit would be deposited into a pool and shared among other faithful members without any reimbursement. This strategy would also serve as an incentive to encourage all the members of the Jury Network to make prudent decisions within the network. There are several aspects of Vena Network that could not be contain within this article, please refer to the website or whitepaper for more information.

TOKEN AND TOKEN SALES

Private sell ended with great success with amount of 5666 ETH and currently the Public Sale is also ongoing. Please join in this great investment into the crypto community. Public sale rate is 1ETH= 10,000 VENA Tokens.

ROADMAP

TEAM MEMBERS

The team of this project is filled with highly skillful individuals who are well-experienced to carry this project to great heights. Below are some of the members of the team please refer to the website or whitepaper to get to know the entire team behind this project. You can also further follow up on them on their social platforms to know their authenticity regarding this project, Vena Network.

CONCLUSION

There are several masternode networks out there with most of them failing along the line making investors and their members lose huge sums of money in the short run. Vena Network changes the story of running masternode by ensuring that all members within the network make initial deposit of Vena Tokens and also confirming legitimate transactions within the network. Users running nodes within the network would also be rewarded constantly for their services and contribution to the network. Enough of all the scam projects that has flooded the cryptospace, invest with Vena Network in their ongoing Public Sale and put yourself in the position of great returns on investment in the near future.

Connect with the team on the following contact lines

Website: https://www.vena.network/en.html

Whitepaper: http://whitepaper-en.vena.network/

Telegram: https://t.me/vena_network

Facebook: https://www.facebook.com/Vena-Network-207271413455484/

Twitter: https://twitter.com/VenaProtocol

Github: https://github.com/venanetwork

Bitcointalk thread: https://bitcointalk.org/index.php?topic=5031375.msg45846644#msg45846644

Authorship

Bitcointalk username: Aponkye1

My Bitcointalk profile link is https://bitcointalk.org/index.php?action=profile;u=2216761