Bitcoin Forum

Hello guys!
Could you please tell me the meaning and importance of masternode?
Thank you all.

Thanks. Done reading and I bookmark it to read it again until I fully understand.

I'm also interested to know about this. Heard investing on master node will generate good day to day income than coins.is it true?

Be careful with masternodes. Seems to be the 'in' thing at the minute as everyone is dreaming of passive income forevermore. Just make sure you do your due diligence on what you are getting into first or you'll lose your BTC very quickly.

There are some great paying masternodes out there, but there are some that are blatant cash grabs so just be careful and do your research first before spending your hard earned cash/BTC  :)

Masternode is always to do some special works , such as DASH .
Dash has lots of masternode and these nodes can help it mixed translation , it's called privateSend .

You need to be SUPER careful when looking into a masternode. Yes, some have been massively successful, however the majority of them seem to have masternodes just for the sake of attracting masternode buyers. Many of these masternode coins have masternodes just because they can, they don't serve a real purpose.

The bad part about masternodes is that if the coin isn't adopted, there will be a small group which hold a massive amount of coins. If masternode holders keep dumping their coins and there isn't enough buyers, the price will decline, scaring away other potential buyers.

I'm too much of a cryptosphere newbie to start noodling around with those masternodes.. :-\

Unless you are an intermediate (3-5 years) I'd exercise caution..

For what i understand Masternodes are computers that are 24/7 checking th transactions in the blockchain and for that service they get reward/paid, not for my newbie knoledge now

Master nodes are full nodes that incentivize node operators to perform the core consensus functions of running a blockchain. basic skin in the game theory is played out. also if you want to check out further about roi, & compare different coins check out the following links:

1) https://masternodecap.com/
2) https://masternodes.online

Hope this helps. Thank you.

Do yourself a favour and avoid them. Nearly all are scams.

 
PIVX, MONK, APR to name a few seems to have nice roi & a consistent team, proper github activities. not all of them are scam, majority of them are but not all.

The vast majority sell the scam nodes then dump the project.

It is not easy to avoid something without proper understanding. As newbie I need to learn and understand everything that I need to understand in crypto world that caught my attention.

Thanks for this mate. Your help is appreciated.

:D haha, new buzz word for getting money off people, this is riddicolous.
Invest in bitcoin, sleep well, any alt coin is either scam or get rich scam more scheme.

Most people have no idea what is bitcoin, how it works but someone come up with new coin "MEGAcoinMEGAprofit" and people throw money at it whatever it is, mostly its only words :>

Hi there,
MasterNode are really a fashionable trend at the moment.
Basically, a MasterNode is a node that keeps the blockchain of a particular coin. So it means that it participates in the block mining, and thus contributes to the coin blockchain.
Each time a Masternode mines a block, its is rewarding with a certain amount of the blockchain coin.

Some of the MasterNodes on the market can be good investments, as they have a real reason to exist.
Others are more shady, and you should beware of them, as their only reason to exist is that people buy the coins to create MasterNodes with the hope to have a ROI.

A lot of the new project with the masternode are scams nowadays.

well the aforementioned projects have been in the domain for a while & aren't proved to be scams up until now. dash runs a masternode, although costly but not a scam.

While Masternodes might be seen as a "trend" right now, they are an important technology when it comes to making blockchains practical to users. Their ROIs are an incentive systems just like mining is.

Our company, Protonode Strategies researches Masternode coins and provides streamlined setup and maintenance for anyone interested in running a Masternode. 

We just launched our telegram, feel free to join and ask us any questions! https://t.me/protonodestrategiesinc

^^ This

Don’t invest in the masternode scams. Doesn’t matter if they have a million users in Discord. Avoid!

Never invest in the masternode of cheap sh** coins because you won't earn anything ,so be aware before you invest.

Thanks for the heads up. Nothing lasts for ever reminder.

Before I explain what a Masternode is its worth spending a little time running through the different types of blockchain out there and which ones support running a Masternode.

Blockchains, in broad terms, break down into three types. POW (proof of work), POS (proof of stake) and a mixture of both.

Each of these blockchains must have a mechanism for processing transactions which allows the blockchain to function.

POW blockchains, such as Bitcoin, are underpinned by ‘miners’ who process transactions by ‘mining’ blocks which are then added to the blockchain. Without going into the technical detail in too much depth the mining of a block is achieved by the miners ‘rig’ (which is a computer specifically designed to process data at a very high rate) guessing the answer to a puzzle. The first mining rig to guess the answer to this puzzle correctly wins the right to mine the block. Once a block is mined the miner is also rewarded with, in this case, Bitcoin. Unfortunately POW systems are very energy intensive and the crypto industry is slowly moving over to an alternative, more energy efficient, type of blockchain called POS.

POS blockchains are underpinned by Masternodes. These are computers which process transactions on the blockchain and as a result are rewarded with coins from the blocks being created. Nodes sit on the blockchain, normally within a queuing system, and when they reach a certain position in this queue can be selected, at random, to be rewarded for participating within the network. As a result of this rewards can appear at different intervals but usually average out over time.

You should read this one:
What is a masternode (https://dashpay.atlassian.net/wiki/spaces/DOC/pages/1867864/What+is+a+masternode)

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Masternodes play important role to maintain healthy condition of blockchain networks, keep networks as decentralized as possible, prevent potential 51% Replay Attacks, and more interesting things, which you should discover more by yourself.

It's true!
Be careful with masternode projects and keep your money safely!

there good and bad masternode, most of the shitcoin masternode are scam

High roi avoid them even with high MC

But masternode and PoS are the future of mining ( the tech will evolve this way) , POW tend to be outdated and eat too much energy, this can not continue like this

Great article. Thanks for sharing!
Not only masternodes are scam, some coins are also scam.
Therefore it's best to spread the risc!