[ANN] MonetaryUnit [MUE] - POS. MasterNodes. Funding. Governance. Services. Devs

[BTCMINER6579]

How can i setup a masternode ?

[110110101]

How can i setup a masternode ?

Once we have made the transition to a X11 base, we will support masternodes on the network. Each masternode will require a 500 000 MUE collateral, but we will be offering shared masternodes as well, where each share will cost 10 000 MUE, but there will be a 10% hosting fee for the shares.

Once we are ready to make the move, we will publish guides and requirements to setting up a masternode on the MonetaryUnit network. Right now they are not supported, but people are encouraged to buy MUE for a masternode share or perhaps to have the whole collateral themselves.

[Dirgantara]

How can i setup a masternode ?

Once we have made the transition to a X11 base, we will support masternodes on the network. Each masternode will require a 500 000 MUE collateral, but we will be offering shared masternodes as well, where each share will cost 10 000 MUE, but there will be a 10% hosting fee for the shares.

Once we are ready to make the move, we will publish guides and requirements to setting up a masternode on the MonetaryUnit network. Right now they are not supported, but people are encouraged to buy MUE for a masternode share or perhaps to have the whole collateral themselves.

I'm sorry but i'm sure there are some newbie untechnical beings out there just like me who wonder what's the main advantage of a masternode and why is it so interesting? Can you please explain it?

[110110101]

How can i setup a masternode ?

Once we have made the transition to a X11 base, we will support masternodes on the network. Each masternode will require a 500 000 MUE collateral, but we will be offering shared masternodes as well, where each share will cost 10 000 MUE, but there will be a 10% hosting fee for the shares.

Once we are ready to make the move, we will publish guides and requirements to setting up a masternode on the MonetaryUnit network. Right now they are not supported, but people are encouraged to buy MUE for a masternode share or perhaps to have the whole collateral themselves.

I'm sorry but i'm sure there are some newbie untechnical beings out there just like me who wonder what's the main advantage of a masternode and why is it so interesting? Can you please explain it?

Hi! I'll ty to give an overview. Dash introduced the concept of masternodes as the backbone of their network. In Dash different actors are needed for the governing of the network. Compare to Bitcoin where the only paid actors are the miners, they get the whole block rewards + fees for securing the network. But as we have seen with the long going debate around the block size, Bitcoin has a major governance problem, simply because it lacks governance.

So, Dash gave us the concept of masternodes, special full nodes on the network that can perform additional functions;

• supervise the coin mixing,
• secure the instantsend transactions,
• hold a copy of the blockchain on high performance networks,
• take part in voting for governance proposals

For these services the masternode operators are paid 45% of the blockrewards, 18 MUE per block, to one masternode. The rest of the block reward, 45% gets paid to the miner who made the block, and the remaining 10% is used for funding the network, paying for contractors, developers, services etc that the masternode operators agree upon.

The governance function of the masternode operators, is very important as they are stakeholders in the network and seek to strengthen the MonetaryUnit network as much as they can. A stronger network, more services, etc are all resolved via voting as the masternode operators vote, once a month, on any proposals that have been made to the network. The votes helps resolve any issues, so we don't have any infectious discussions like the blocksize debate. The masternode operators make a vote, and that ends the discussion and we all move forward.

So, in summary, the masternodes perform technical functions on the network, and the masternode operator is allowed to vote on the path of how the network moves forward. This was just the very basics, and I have intentionally left out a bunch of details, but please ask more questions and we will try to explain further.

[Dirgantara]

For these services the masternode operators are paid 45% of the blockrewards, 18 MUE per block, to one masternode. The rest of the block reward, 45% gets paid to the miner who made the block, and the remaining 10% is used for funding the network, paying for contractors, developers, services etc that the masternode operators agree upon.

The governance function of the masternode operators, is very important as they are stakeholders in the network and seek to strengthen the MonetaryUnit network as much as they can. A stronger network, more services, etc are all resolved via voting as the masternode operators vote, once a month, on any proposals that have been made to the network. The votes helps resolve any issues, so we don't have any infectious discussions like the blocksize debate. The masternode operators make a vote, and that ends the discussion and we all move forward.

So, in summary, the masternodes perform technical functions on the network, and the masternode operator is allowed to vote on the path of how the network moves forward. This was just the very basics, and I have intentionally left out a bunch of details, but please ask more questions and we will try to explain further.

Thank you for the explanation. Now i'm sure that i'm on the right track by holding MUE, this is going to be big.
I'm familiar with LISK and ARK DPOS system. Is this masternode is something like DPOS, in which we received some free coins by voting a delegate pool and securing the network, or it's way much different? And how many masternodes allowed to be exist out there? In ARK they allowed 52 delegates and in Lisk is much less.

[JPP1972]

Good morning,

Is about 2 hours that the pool https://pool.weminemue.com don't work....
it's possibile???

the old pool http://www.weminemue.com works fine......

[JPP1972]

Good morning,

Is about 2 hours that the pool https://pool.weminemue.com don't work....
it's possibile???

the old pool http://www.weminemue.com works fine......

Now is working, thanks!!

[110110101]

For these services the masternode operators are paid 45% of the blockrewards, 18 MUE per block, to one masternode. The rest of the block reward, 45% gets paid to the miner who made the block, and the remaining 10% is used for funding the network, paying for contractors, developers, services etc that the masternode operators agree upon.

The governance function of the masternode operators, is very important as they are stakeholders in the network and seek to strengthen the MonetaryUnit network as much as they can. A stronger network, more services, etc are all resolved via voting as the masternode operators vote, once a month, on any proposals that have been made to the network. The votes helps resolve any issues, so we don't have any infectious discussions like the blocksize debate. The masternode operators make a vote, and that ends the discussion and we all move forward.

So, in summary, the masternodes perform technical functions on the network, and the masternode operator is allowed to vote on the path of how the network moves forward. This was just the very basics, and I have intentionally left out a bunch of details, but please ask more questions and we will try to explain further.

Thank you for the explanation. Now i'm sure that i'm on the right track by holding MUE, this is going to be big.
I'm familiar with LISK and ARK DPOS system. Is this masternode is something like DPOS, in which we received some free coins by voting a delegate pool and securing the network, or it's way much different? And how many masternodes allowed to be exist out there? In ARK they allowed 52 delegates and in Lisk is much less.

The masternode concept is different from some delegated governances in that anyone who has the required collateral may set up a masternode. There is no separation of people - no trying to buy votes or so as in other delegates syatems. Instead it is pure economics; anyone who wants may set up a masternode as long as they fulfill the requirements e.g. collateral limits.

There are no limits other than current coin supply. Dash has some 4500 active masternodes, but MUE will have far less as MUEs collateral limit is quite high; 500 000 MUE. In fact, the network becomes stronger the more active nodes there are.

[Dirgantara]

The masternode concept is different from some delegated governances in that anyone who has the required collateral may set up a masternode. There is no separation of people - no trying to buy votes or so as in other delegates syatems. Instead it is pure economics; anyone who wants may set up a masternode as long as they fulfill the requirements e.g. collateral limits.

There are no limits other than current coin supply. Dash has some 4500 active masternodes, but MUE will have far less as MUEs collateral limit is quite high; 500 000 MUE. In fact, the network becomes stronger the more active nodes there are.

More nodes mean more stronger and secure network rite? If half of MUE supply used for masternode, there will be 120 masternodes exist. And yes 500K is quite high, at current rate it will cost more than 100 btc. So maybe if MUE can reduce collateral limit, there will be more people who interest to set up the masternode. Or is there any reason why MUE required 500k for a masternode?

[110110101]

The masternode concept is different from some delegated governances in that anyone who has the required collateral may set up a masternode. There is no separation of people - no trying to buy votes or so as in other delegates syatems. Instead it is pure economics; anyone who wants may set up a masternode as long as they fulfill the requirements e.g. collateral limits.

There are no limits other than current coin supply. Dash has some 4500 active masternodes, but MUE will have far less as MUEs collateral limit is quite high; 500 000 MUE. In fact, the network becomes stronger the more active nodes there are.

More nodes mean more stronger and secure network rite? If half of MUE supply used for masternode, there will be 120 masternodes exist. And yes 500K is quite high, at current rate it will cost more than 100 btc. So maybe if MUE can reduce collateral limit, there will be more people who interest to set up the masternode. Or is there any reason why MUE required 500k for a masternode?

There was a community vote a long time ago, when MUE was moving from quark to X11, that the collateral was to be set at 500 K.

We are aware of the high cost of a masternode, so we will be offering a shared masternode service, please check out myMUE.com - a marketplace for buying shares in masternodes, each share being 10 000 MUE.

[igotek]

I have boguht 20 000 MUE. I want to buy shares. But I cannot see any deposit addres in myMUE.com

After I see the daily profit, I will buy more and more MUE day by day. I believe the MUE will be number one after DASH.

[110110101]

I have boguht 20 000 MUE. I want to buy shares. But I cannot see any deposit addres in myMUE.com

After I see the daily profit, I will buy more and more MUE day by day. I believe the MUE will be number one after DASH.

Just hold your ponies igotek, once MUE has made the transition you can start buying shares. We are still working really hard to make the move, but we aren't really there just yet. Have patients, we are soon there

[telih]

Just want to say, I appreciate the work everyone is doing here  been watching for awhile. Great team.

[bizzyb]

Just want to say, I appreciate the work everyone is doing here  been watching for awhile. Great team.

Thank you, we're doing our best

[bizzyb]

I'm happy to announce MUE has secured the exclusive rights to the CryptX platform.
CryptX is a bespoke, developed from the ground up unified crypto platform, totally modular in design - you can see some of what it can do if you tested mymue.com.
This means moving forward MUE will be able to offer a host of integrated and value adding services to the MUE community & crypto as a whole bringing even more exposure and investment in this project.
We've only just begun

[biggernugs]

I'm happy to announce MUE has secured the exclusive rights to the CryptX platform.
CryptX is a bespoke, developed from the ground up unified crypto platform, totally modular in design - you can see some of what it can do if you tested mymue.com.
This means moving forward MUE will be able to offer a host of integrated and value adding services to the MUE community & crypto as a whole bringing even more exposure and investment in this project.
We've only just begun

Hope you guys stocked up during the last dips to 1800 sat. This has been sideways for too long, getting ready to fly

[Dirgantara]

I'm happy to announce MUE has secured the exclusive rights to the CryptX platform.
CryptX is a bespoke, developed from the ground up unified crypto platform, totally modular in design - you can see some of what it can do if you tested mymue.com.
This means moving forward MUE will be able to offer a host of integrated and value adding services to the MUE community & crypto as a whole bringing even more exposure and investment in this project.
We've only just begun

Great news dev!! Gonna check MyMUE ASAP.

[bizzyb]

Hi MUE community

We have launched our latest project www.WebWallets.io

A multicurrency web wallet, that even pays out for staking coins.

Obviously MUE is 1 of the first 5 coins we have launched with, many dozens more to follow.

Feel free to check it out

[BTCMINER6579]

Hi MUE community

We have launched our latest project www.WebWallets.io

A multicurrency web wallet, that even pays out for staking coins.

Obviously MUE is 1 of the first 5 coins we have launched with, many dozens more to follow.

Feel free to check it out

How does this work.
by simply having balance there will i get rewarded ?

[bizzyb]

Hi MUE community

We have launched our latest project www.WebWallets.io

A multicurrency web wallet, that even pays out for staking coins.

Obviously MUE is 1 of the first 5 coins we have launched with, many dozens more to follow.

Feel free to check it out

How does this work.
by simply having balance there will i get rewarded ?

Only if it is a staking coin, such as Renos, PIVX or Crown - we will be adding hundreds more