Smartcash Masternode


#1

Hello!
I’m worried about a few questions on Masternode.
Your conditions: 10,000 coins / 2 GB memory / 20 GB hard disk / static IP.

  1. If I block more than 10,000 coins for Masternode - will I receive more commissions?
    For example, for 30,000 coins, will I get more money?

  2. If I participate in Masternode, can I also receive rewards through the SmartRewards program?
    Or do you need to choose one or the other?

  3. Do you need a separate machine to run Masternode or my personal laptop?


#2

You won’t be able to run a Masternode in a personal computer. The SmartNode must have a static IP (Ip doesn’t change)

The requirement is to have a deposit of 10k (no more no less) in the address. It is not accumulate 10k or more in an address, but have a transfer of 10K to an address and keep it there. And you will receive rewards as well. rThe payment is for the Node and it won’t matter if you have more than 10k in the address. The payment for the node will be the same. It is not the same as rewards. But you do have rewards + Node Payment as well.

But for now, it is all speculation since nothing official was released about the SmartNode yet


#3

Why wouldn’t op be able to run a Masternode on a personal computer? He could set his IP to be static. Or am I missing something?


#4

From my understanding:

  1. Masternodes will be providing specific services to the Smartcash community. This will most likely involve the burning and replacing of coins (zerocoin). The way this works for certain other currencies, is that the more of that currency you hold, the more likely you are to receive a transaction to process and the more likely you are to receive masternode rewards. I’m sure there is alot more to it, but this is my vague understanding of how it works.
  2. Specifics of what you will and won’t be entitled to will be made known come closer to the release date. I assume most of this is still up for discussion and circumstances may easily change.
  3. I’m not sure why flamingo says you will not be able to use a personal computer. The specs for a masternode requirement easily make up a personal computer. Although a static IP address will need to be discussed with your internet service provider. Most ISPs offer dynamic IPs for security reasons where I live. If you own a static IP then this can be more easily targeted. Also remember that a masternode is providing a service to the smartcash community. 24/7 uptime would be somewhat a requirement.

#5

Yes, you are confusing your local LAN IP with your public IP.
Most ISPs don’t assign fixed IPs to residential customers to conserve IPs (costs the ISP around 10$ per IP).
Maybe your ISPs is giving you a fixed IP - in that case you could run your node on your NAS/PC/Server.

Just remember that if you expose your PC to the internet and open up too much on your router - not just the port for your masternode - you make yourself a target for hackers. Imo for non-professional IT guys a VPS is the better solution.


#6

Thinking in pay a VPS to run masternode at least for a year. I will have to look the costs though.


#7

Is there a link to info re masternode setup? (stake, etc)


#8

Can anyone tell me what the reward will be for hosting a Smartcash masternode?


#9

most masternodes are run of vps cmon guys and girls… 100% uptime. buy a ups like all other nodes.


#10

I’m a little worried about the potential number of Smart Nodes that will be possible with current and future Smartcash coin supply.
If we consider the number of coins in circulation to be 500 million, that Smart Node costs 10000 and then make a presumption that about 60% of coins could be staked in Smart Nodes (like in Dash), that could be about 30000 Smart Nodes. If we take the price of the VPS to be $10 a month, that’s a $300000 monthly bill just for hosting Smart Nodes…
Will the rewards be adequate to cover that and also make a profit for the Smart Nodes operators?


#11

curious to this also


#12

it is merely based upon supply/demand - you - (and me) as the community set the price.

where are you getting the 60% from?


#13

Dash has about 60% of coins locked in masternodes at the moment ( circulating supply:7,784,826 DASH, 4675 active masternodes which have a 1000 coins requirement), that’s where I got 60% from.


#14

You may also know that Dash has 1,9M coins premined, so you may guess most of it used for masternodes.


#15

10% of the monthly BlockReward


#16

Waiting for more info released by EOY. By the way, @flamingo why would it be one tx of 10K coins to the masternode wallet? It doesn’t make sense as master node would receive continuous bonus which increases its balance from time to time


#17

It’s the same mechanism as for Dash (and PIVX I suppose). I’m guessing they are using a lot of the same code base.
But it isn’t so much about a transfer to the wallet, it’s about a transaction that has exactly 10000 coins in it which will be used as a stake.


#18

Premine discussion aside, I think it’s a good indication how many coins could be staked in the Smart Nodes, if the incentive is right.
I’m also curious if some sort of see-saw mechanism would be applied to the rewards that are split between miners and Smart Node holders (like in PIVX - https://pivxmasternode.org/what-is-a-masternode/ )?
Also, were there some examinations about how many Smart Nodes are optimal for supporting the network?


#19

Is the smartnode guide already available? Can someone post it in the forum?


#20

Yes, SmartNode Setup Guide v1.0 has been posted by yoyomonkey on Discord a few hours ago.

Mirror is up here: http://smartnodes.cc/files/SmartCash_SmartNode_Setup_Guide_v1.0.pdf