Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like your have Bitcoin full nodes and is always up & running. Masternodes have features that allow instant and anonymous transactions, carrying out certain transactions in ways a typical node cannot. To operate a masternode, one is required to lock up what is usually a large amount of coins and host a server through which the locked up coins generate a passive income.
Dash was the first cryptocurrency to implement the masternode model into its protocol. Under what Dash calls its proof of service algorithm, a second tier network of masternodes exists alongside a first tier network of miners to achieve distributed consensus on the blockchain. This two tiered system ensures that proof of service and proof of work preform symbiotic maintenance of Dash’s network.
Plenty of cryptocurrencies have adopted this mechanism as their own. What was originally intend to oversee instant, anonymous transactions is now being implemented for a multitude of other services.
Some of the special functions that these nodes perform are:
- Increasing privacy of transactions
- Doing instant transactions
- Participating in governance and voting
- Enable budgeting and treasury system in cryptos
Masternode is much like proof of stake, it relies on staking a certain amount of a given currency within the currency’s network. But, it’s not the only requirement. Other things that are required to set it up:
- A VPS or server to host that wallet for 24 x 7
- A dedicated IP address for that
- Some storage space to save the blockchain
Certainly, setting up a masternode can be a sophisticated process for many people. It’s not as complicated as mining, but it can be a daunting task for people without extensive tech knowledge.
With Zixx, found online at https://www.zixx.org/, anyone can run a masternode. Zixx, a premium third-generation masternode cryptocurrency, provides a ‘one-click’ feature that allows anyone to set-up and run a masternode in no time. Besides, all of the standard features of any cryptocurrency masternodes offered like secure, instant and private transactions.
Like so many other digital currencies invading the marketplace, ZIXX offers something unique that is difference to other cryptocurrency is doing at the time:
Charity Nodes: Zixx is giving a select amount of nodes to charity each quarter. Zixx runs dedicated charity nodes to raise funds for worthy causes. Any member of the community can propose a registered charity to receive funding. Each quarter, the masternodeholders vote on how to allocate the charity fund.
High Reward: Zixx allocates a huge percentage (80%) of its rewards to masternode holders. This strategy aims to avoid the volatility often created by other distribution models.
Zixx Wallet: Used to control the distribution of incoming funds. With shared nodes, you could split the funds based on pre-defined ratios to multiple users. If you run several nodes, you could have all the rewards sent to one address. You also could assign a percentage of your regular rewards to charity. You can downoad The wallet here: https://www.zixx.org/download-wallet
Other benefits of Zixx is include in:
- Low Maximum Coin Supply: 22 million coins
- Low Coin Emission Rate: ~100k per month
- Zixx Bot: Tip, gamble or participate in a shared node via the friendly Zixx Bot in the Discord community
Zixx coin, XZX, specs are carefully modelled to avoid volatility and offer the best reward for investors. Currently, XZX price for a single coin is at $1.475 (USD) making it a good investment with little to no risk. The coin supply is at 311,578 XZX, with a market cap of $459,677.509.
Finally, Zixx cryptocurrency masternode, https://www.zixx.org/, could shape the future of the crypto economy. They offer an exciting way of generating passive income without significant effort. ZIXX has built a fantastic plan with their business model, all is set to make XZX a contender in the world of crypto technologies.
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