in #blockchain6 years ago

The crypto community is presented with several ways to earn almost everyday but the one that is currently on the lips of everyone is the running of masternodes. I was quite intrigued when I also got to know about it until I got to understand how masternodes work until I came into understand why it is flooding the crypto community almost everyday.
Cryptocurrencies actually began with the generation of Bitcoin by Satoshi Nakamoto bank in January 2009. Many people did not believe in the fact that cryptocurrencies could actually be used as a digital payment system but it is very relieving that this dream is being realized gradually since there are several online platforms that accept cryptocurrencies. Other cryptocurrencies have also been generated and the popular among them aside Bitcoin is Ethereum by Vitalik Buterin. Most of the blockchain networks such as Bitcoin, Ethereum and others all uses Proof-of-Work in mining of new blocks unto its network but upon further consideration cryptographers realized that this system was quite difficult to operate with.

Hence the development of masternodes which was pioneered by the Dash Network. Running a masternode on the Dash Network requires a personal stake of 1000 Dash Coins. After the development of masternodes by Dash, several other networks also started establishing their masternodes and currently there are over 100 masternodes in the cryptospace with new ones springing forth almost everyday. Examples of these masternodes are MANO, ZIXX, XDNA, PIVX etc. Masternodes have very basic network on every network and they are performing highly private and secured transactions and also performing transactions very quickly.


One might say that running masternodes is another form of investing into cryptocurrencies just that this time it sounds more of like Real Estate investment because the capital to required to run a masternode is quite expensive and this sometimes prevents many people from securing one on any network of their choice. Refer to the number of the Dash coins required to run a masternode and compare it to the prize of Dash as at now and you will realize that is no joke to run a masternode on the Dash Network. Others might not be too expensive as Dash but trust me in general they are expensive.

Nodebase platform understands the economic hardships that the world is facing as at now and therefore allows the average crypto enthusiast the opportunity to run a masternode on its platform. Nodebase makes running masternode with a special system of Tiered Staking and Shared Masternode. With this concept in place members don’t have to purchase huge number of coins to run a masternode but some specific amount of coins can be started with and the user can work his way up to running a full masternode as he keeps accumulating new rewards.

Another issue is also the problem which some people face with setting up and managing their masternode. Running a masternode is not just like buying some tokens or coins and keeping it in your wallet till the price runs high for you to cash out make profit. Running a masternode means setting up the node to meet the requirement of the network on which you are running the masternode on. Also, there is the part of monitoring and managing the masternode in terms of updating of softwares, wallets and other changes unto the network that might be necessary.

Nodebase platform would serve as a host platform whereby users would select the particular network upon which they want to run on. After making payments for the stated number of coins that is required to run a masternode on the network, Nodebase takes over in setting up the masternode and managing it for the user. Users would therefore not have to bother themselves with setting up masternodes which requires some level of technological know-how. Users sometimes find it difficult to follow up on all these settings in running masternode but Nodebase takes away this trouble.

Another component that exists on the Nodebase platform is that amazes me is the designated masternode marketplace which allows users to sell and buy masternodes at a very affordable price. Currently, if one wants to buy a masternode on any network he has to buy the coins from exchange platforms which is quite expensive because of the different sell orders that have been placed. This process of purchasing of coins to run a masternode also take time since the user might want to purchase the coins only when the price comes down.

Nodebase saves crypto enthusiasts from all these time-consuming activities by establishing a marketplace where members can list masternodes for sale and other interested can also buy them. Masternodes that are listed are going to be tagged with a specific price and payment would be be done with the use of escrow accounts and with time smart contracts would be inculcated into the system. In fact Nodebase makes the running of masternodes very simple and accessible to all members of the crypto community with all its packages and features.





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