[ANN][CRW] CROWN (MN-PoS) | Platform | NFT framework | Governance | Masternodes

[urban_idler]

Hello sir, I would like to purchase 2 systemnodes for 1000 crw.  I want to know how much income it can generate per month?

The rewards for an individual system node will be a function of the total number of system nodes -- so one can't make a precise prediction.

With each block, a system node will randomly be selected as "leader" for the that block and that system node will receive a 0.9 CRW reward.   Blocks currently complete about once a minute.

There are 1440 minutes in a day (24 x 60) and very close to 1440 blocks per day.  So each day, the system nodes on the system will receive 1440 different 0.9 CRW rewards for a total of 1296 CRW going to system nodes per day.

And then this is where the math starts to get interesting -- because masternodes require 20x the collateral as system nodes, but receive only 5x the reward of a system node.  Masternodes get 4.5 CRW per block...  and there are currently about 1,200 masternodes. 

Now, if VPS or compute were free and governance voting weren't an "economic asset" -- in a network with the reward and collateral structure proposed for CRW, the equilibrium between the return on masternodes and system nodes is that if there are "X" masternodes, then you would have 4*X system nodes...  in other words -- if 1,200 masternodes stay up, then the return on system nodes will be higher than the return on masternodes until there are around 4,800 system nodes in a zero VPS/compute cost world...  in the real world the return breakeven will depend on the cost of your VPS -- but the equilibrium is probably around 3x as many system nodes as masternodes.

Why more system nodes?
1. In the long term, system nodes should be able to do a lot of grunt work for the network -- so you want more capacity and diversity, more numbers in this layer... and you need to set it up the way you want it when you start, not later.
2. More people have the ability to own smaller stakes, so in terms of building and engaging the community -- you want to have more seats at the smaller collateral level, as way for people to start and get to know the community and think about how they can add value to the network -- what ideas they would like to propose or contribute.

Or that's the way I think of it.  Others may explain it differently.

[1714078076]

1714078076

[1714078076]

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[1714078076]

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[higherbridge]

Hello sir, I would like to purchase 2 systemnodes for 1000 crw.  I want to know how much income it can generate per month?

Hi,
A few weeks ago, this was posted:

Here's a spreadsheet showing the number of CRW a single Systemnode can expect to earn for a given number of Systemnodes on the network.

I suspect that Trons will start to receive a higher reward again after a few thousand SNs have been set up although its impossible to estimate exactly when.  This will be near to our first Zuck Equilibrium!

https://drive.google.com/file/d/0B_xNpVnMJrIhSGxHRXAtcDljWnc/view?usp=sharing

It's difficult to estimate how many Systemnodes there'll be - and it also depends on the cost of your VPS. Maybe http://crown.today or http://crowncentral.net will have more accurate statistics in the future

[stonehedge]

Hello sir, I would like to purchase 2 systemnodes for 1000 crw.  I want to know how much income it can generate per month?

The rewards for an individual system node will be a function of the total number of system nodes -- so one can't make a precise prediction.

With each block, a system node will randomly be selected as "leader" for the that block and that system node will receive a 0.9 CRW reward.   Blocks currently complete about once a minute.

There are 1440 minutes in a day (24 x 60) and very close to 1440 blocks per day.  So each day, the system nodes on the system will receive 1440 different 0.9 CRW rewards for a total of 1296 CRW going to system nodes per day.

And then this is where the math starts to get interesting -- because masternodes require 20x the collateral as system nodes, but receive only 5x the reward of a system node.  Masternodes get 4.5 CRW per block...  and there are currently about 1,200 masternodes. 

Now, if VPS or compute were free and governance voting weren't an "economic asset" -- in a network with the reward and collateral structure proposed for CRW, the equilibrium between the return on masternodes and system nodes is that if there are "X" masternodes, then you would have 4*X system nodes...  in other words -- if 1,200 masternodes stay up, then the return on system nodes will be higher than the return on masternodes until there are around 4,800 system nodes in a zero VPS/compute cost world...  in the real world the return breakeven will depend on the cost of your VPS -- but the equilibrium is probably around 3x as many system nodes as masternodes.

Why more system nodes?
1. In the long term, system nodes should be able to do a lot of grunt work for the network -- so you want more capacity and diversity, more numbers in this layer... and you need to set it up the way you want it when you start, not later.
2. More people have the ability to own smaller stakes, so in terms of building and engaging the community -- you want to have more seats at the smaller collateral level, as way for people to start and get to know the community and think about how they can add value to the network -- what ideas they would like to propose or contribute.

Or that's the way I think of it.  Others may explain it differently.

Precisely correct.

[vic_crown]

Hello, next tuesday 14th Crown team will be attending a conference in Madrid about Bitcoin and Cryptocurrencies by Adriá Aguadé. Hope to meet good people there and make some first contacts to inform about Crown possibilities. info about the conference here

[crowncoin_knight]

Hello, next tuesday 14th Crown team will be attending a conference in Madrid about Bitcoin and Cryptocurrencies by Adriá Aguadé. Hope to meet good people there and make some first contacts to inform about Crown possibilities. info about the conference here

Great Vic, make sure you coordinate with our Latin American team, which should be in Madrid as well during these dates 

[marcellinuswiray]

#Systemnodes are finished. Updating links. Stayed tuned for the official announcement. $CRW #masternode

[stonehedge]

PLEASE DISREGARD THE UPDATE ANNOUNCEMENT AND REMAIN ON PREVIOUS VERSION

A significant bug in the wallet has been found that affects masternodes.  We will be re issuing the release very soon.

[BanzaiBTC]

A significant bug in the wallet has been found that affects masternodes.  We will be re issuing the release very soon.

Please notify me through PM when you have the update ready so I can update my explorer..

[stonehedge]

A significant bug in the wallet has been found that affects masternodes.  We will be re issuing the release very soon.

Please notify me through PM when you have the update ready so I can update my explorer..

Will do mate.  Thanks for checking by.

Its not looking like a major problem so won't be long.

[sitonmythrone]

Is there minimum investment in the ICO?

this no ico

u not read!

crw led dev big brain

u small brain miss SUPER MOON!

[Sh1fty88]

A significant bug in the wallet has been found that affects masternodes.  We will be re issuing the release very soon.

Please notify me through PM when you have the update ready so I can update my explorer..

Will do mate.  Thanks for checking by.

Its not looking like a major problem so won't be long.

Can someone give an update on this bug?

The new wallet is still not available.

[Sh1fty88]

You can think about how successful the project is. I hold the reservations and hope that the project will succeed!

Ofcourse we hope it will succeed but the lack of communications is pretty concerning.

They could at least place an update every 12 hours or so.
Takes about 2 minutes and keeps the people from guessing whats going on.

[crowncoin_knight]

You can think about how successful the project is. I hold the reservations and hope that the project will succeed!

Ofcourse we hope it will succeed but the lack of communications is pretty concerning.

They could at least place an update every 12 hours or so.
Takes about 2 minutes and keeps the people from guessing whats going on.

Updates are done very often in our chat mm.crownlab.eu

Maybe join to stay up to date man  

[Sh1fty88]

You can think about how successful the project is. I hold the reservations and hope that the project will succeed!

Ofcourse we hope it will succeed but the lack of communications is pretty concerning.

They could at least place an update every 12 hours or so.
Takes about 2 minutes and keeps the people from guessing whats going on.

Updates are done very often in our chat mm.crownlab.eu

Maybe join to stay up to date man  

So, they post on this forum that there is a problem with the new update.
It would be more then reasonable to keep the people posted on progress on that platform.

Its useless to post half the information...

[stonehedge]

7th November 2017

Crown Systemnodes - Major Release 12.3.0

The Crown team is delighted to announce the release of the Systemnodes update today.

We have worked hard the past couple months on this release. It represents a big step forward for the Crown Project towards what we think is a fundamental step in the broader adoption of blockchain technology. The goal of the Crown project is to provide a decentralised platform that enables individuals and businesses to build a future as they envision it by making use of the vast capabilities blockchain has to offer.

Systemnodes are the first piece in a series of updates that will allow this vision to become a reality. Systemnodes are a key element in the network features that will drive Crown Atomic (read more at https://crown.tech/atomic).

In this release, Systemnodes will act as incentivised full-nodes. The next update will incorporate a Network Time Protocol, a step essential in solving the need for mining. The Crown project is working on a non-PoW, non-PoS, 3rd way to secure transactions. This is to be announced at a later time.

Attention

Please note that to ensure the continuation of Masternode earnings, all Masternode owners are advised to please update their local- and VPS-wallets at the earliest convenience.

All block explorers, miners and exchanges are asked to update also.

Systemnodes and Masternodes may not behave in a stable manner until a significant portion of the network has updated.

After November 20th, 2017, all wallets must be updated. Old wallets after that date will no longer be able to take part in the network.

What's New

• Name change: Thrones/Trons to Masternode
  The naming of nodes remained scattered in the code and documentation. It has been decided to move to a standardized name. Therefore from this update on, “Throne” or “Tron” will be renamed “Masternode” in all instances.

• Systemnodes (500 Collateral / 0.9CRW per block)
  To run a Systemnode, a collateral of 500 crown is required. From each block, 0.9 CRW is divided between all Systemnodes. See expected earnings here: https://drive.google.com/file/d/0B_xNpVnMJrIhSGxHRXAtcDljWnc/view?usp=sharing
  
  Miners will receive 3.6 instead of 4.5 Crown per block to account for this.

• Added Systemnodes to GUI
  

• Budget proposal failsafe (Mainnet=16tg5tuZrPKoBwfbmj2tmiEPhVPzyn3gtP)
  A bug caused two rounds of proposal funds to not be paid. The bug has been fixed, and to prevent the loss of funds in the future, a failsafe has been implemented.

• Removed all UI use of Darksend
  Anonymous transactions discourage governments to work with us. Crown’s implementation is and will continue to be compliant with local authorities. For this reason anonymous transactions have no value for the network.  

• Fully functional testnet
  A fully functional test environment has been set up.

• Added new seednodes for both main and testnet
  Seednodes (nodes that broker a connection from your client to the p2p network on client start-up) received an update for both the Crown network and have been added to the test environment.
  
  

Links to Wallets

The new wallets can be downloaded here: https://www.crown.tech/wallet

How to update local wallets:

Simply download the new version and replace your old one.  You can check you are on the correct version by typing getinfo into the console and you should see version 12.3.0.

How to update Masternodes (Previously known as Thrones)

Update guides and scripts will be released later today and posted in all official channels.

For the more technically confident, Masternode update is as simple as replacing the executables and changing all references to Throne to read Masternode instead, including changing throne.conf to masternode.conf and references to throneprivkey to masternodeprivkey.

How to set up a Systemnode

Systemnode setup is similar as setting up a masternode except you only need 500 CRW collateral and commands will be prefixed Systemnode rather than Masternode.
Systemnode setup scripts and guides will be published later today in all official channels.


Bug Reporting

If you find any bugs, please report them to the core team in the “Public Testing BUGS” channel that you can find at http://mm.crownlab.eu

[btct22]

Awesome, congrats on the release!  I'll try a systemnode setup asap  

[TimC]

Awesome, congrats on the release!  Please note wallet download link is currently non-functional.  I'll try a systemnode setup asap 

Links to Wallets

The new wallets can be downloaded here: https://www.crown.tech/wallet

They missed the dot between crown and tech

[btct22]

I've updated my controller wallet and was wondering how long the "Syncing additional data" step should take, for me it seems stuck at 85% and is looping through the various bits of info but never seems to complete.  Is there anything else I need to do to get it to run?  Also the Masternodes/System nodes menu options aren't visible for me yet.

Thank you for any help!

[CHAOSiTEC]

Please remember the following when updating your thrones (masternode)

there was a namechange, so you have to go into the crown.conf and change the following

throneprivkey=xXxx..
needs to be
masternodeprivkey=xXxx..
and
throne=1  
needs to be
masternode=1

also, untill enough nodes are online, you might need to keep trying to start the service node

[calnaughtonjnr]

I've updated my controller wallet and was wondering how long the "Syncing additional data" step should take, for me it seems stuck at 85% and is looping through the various bits of info but never seems to complete.  Is there anything else I need to do to get it to run?  Also the Masternodes/System nodes menu options aren't visible for me yet.

Thank you for any help!

Change your throne.conf to masternode.conf.

Just had the same happen to me