Syscoin Masternodes were launched and implemented along with Syscoin 3.0 on May 1st 2018. Based on Dash code, Syscoin masternodes offer the basic features of Governance, InstantSend, and PrivateSend, as well as extensive enhancements and additional use cases. Learn more below.
What sets Syscoin Masternodes apart?
- Z-DAG Protocol’s instant Asset transfer
- Facilitation of future Syscoin features and services
- Seniority benefits to masternode operators
Innovations will continue to emerge as the protocol is improved and extended.
How does community governance work?
Funds are generated by the Syscoin blockchain superblock each month. Anyone can apply to receive a set amount of funds specified in the proposal. Masternode owners vote on the proposals via the Syscoin blockchain and funds are distributed to those that are approved. Successful projects tend to be those that support and advance Syscoin Platform, such as third-party marketing initiatives and application development.
75% of each block reward is distributed to Masternode operators. Each payout amounts to roughly 25 SYS, not including Seniority Benefits and Transaction Rewards.
As a seniority benefit, Masternode operators receive +3% to their base reward for every four months that collateral for an active Masternode is kept locked at the same address.
VPS running Ubuntu 16.04 LTS x64
40GB+ SSD hard drive
Static IP Address
Check out Justin Silver's blog for a helpful guide which includes an easy-to-use install script.