Bitcoin Forum
June 30, 2024, 11:16:13 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Can someone explain hot and cold wallets in reguards to masternodes to me.  (Read 120 times)
red023 (OP)
Jr. Member
*
Offline Offline

Activity: 103
Merit: 1


View Profile
February 28, 2018, 05:29:03 PM
 #1

In a bitcoin context I know what a cold wallet is. For example with https://bitkey.io/ you have have your actual wallet on a air gapped cold wallet and its private key will likely never get exposed if you use 2 PCs. I think it may even be more secure then a trezor or ledger and its totally free, but not as user friedly.

So for masternodes this concept of hot and cold wallets seems to be something entirely different, i not came across a true cold wallet when it comes to masternode guides. You have a master-node that you start from a hot wallet that run on a desktop, usually the masternode only needs the masternodes private key and is started remotely so they run cold.

Now I came across Ganjacoin and they want you to set privkey and txindex. On the masternode. https://github.com/legends420/GCFORK/blob/master/install.sh Why does their masternode needs that as well, does this make it less secure does this expose something? I guess not but I just like to understand the technical part a bit. The masternode is still not a hot wallet I guess but how comes that its doing differently then the other coins I came across?
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!