New Blockchain - Masternodes (1/2)

Dear community,

As mentioned in the previous blog article, we will be migrating to our own blockchain implementation based on the Dash code base.

At its core, the consesus is based on proof of work and through mining of a block, a reward is created and distributed to the miners, master nodes and the help foundation.

What is a Master Node?

Master  nodes are specialized nodes within the distributed network that enable  custom features and greatly improve fault tolerance in the system, which  are classified in two categories:

  • Master Nodes
  • Entity Master Nodes

As  regular nodes, they are required to run a wallet software, with  additional requirements, such as a dedicated IPv4 address, high  availability through an up-time of 24 hours with a connection loss of  maximum 1 hour.

Custom features enabled:

  • Near-instant transactions
  • Dynamic mining reward distribution
  • Private transactions through anonymization services such as TOR, AN.ON

For  providing such features, master nodes are paid a certain portion of reward for each block. This can serve as a passive income to the  master node owners minus their running cost.

How is the block reward structured?

  • 20% allocated to the Help Foundation
  • 80% allocated to both miners and master nodes

Master Node cost in HELP

  • Master Node: 2,500
  • Entity Master Node: 25,000

Regarding running a master node, we will be publishing a tutorial in a new article by the end of the year.

Meanwhile, stay tuned for the in-depth part 2 on the master nodes layer coming up next week, and come back tomorrow for the part 1 article on Mining.

New Blockchain - Masternodes (1/2)
Share this

Subscribe to GoHelpFund Blog