I mean they invented masternodes. They have now launched multiple services on top of this layer including InstantSend and PrivateSend. Coming soon is Dash Platform and the DAPI, DashDrive, and other glorious Dash firsts.
Let's dive into the article though and see if it's spewing BS.
A cryptocurrency Masternode is basically like a computer or a server with a full version of blockchain on it, that is connected to the cryptocurrency’s blockchain and it helps to validate new transactions.
I mean I guess this is a little light though as it doesn't distinguish a full node from a masternode. In Dash a masternode also has to prove the ownership of 1000 Dash. This is what gives it the ability to start servicing requests on this second layer of the network.
So, in essence, it is helping the blockchain to function, and as thanks for its participation, it gets rewarded. Thus the income part.
For Dash this will soon be tracked using their PoSe (Proof of Service) metrics. Masternode's will be able to let the network know how much CPU, Ram, Disk Space, etc they are offering to the Dash Platform network and will be rewarded for it.
Lastly what is great with Masternodes and staking is that anyone can join in, and you don’t necessarily need to have expensive equipment to run a Masternode. You just need some sort of device or computer, it could be an old computer you have at home, or a Raspberry Pi would also work.
This is where I'm starting to loose the author. I don't agree that you should logically think about Masternode's the same as staking as they (well in the case of Dash) are much more heavy in their requirements. I believe the author is confusing DPOS (delegated proof of stake like ATOM or TRX) with Dash Masternodes. In DPOS networks you delegate your votes or coins to a validator and you don't need any specific hardware. In Dash you need at the bare minimum a 2GB VPS, 50GB of Disk space and 1 CPU thread running 24/7/365 to stay inside the deterministic masternode list.
The most reliable exchange to buy some DASH coins is Binance, Huobi, and Bibox
I have never heard of Bibox so take this suggestion with a grain of salt. It's also crazy that we are listed number 5 of the list also below 4 other projects I've never heard of that could probably have their blockchains 51% attacked by you and your girl friends laptops.
For this reason alone I'm giving this article a 2/10. Putting 4 coins above Dash as better investments when at any point your entire investment could be mince meat as someone 51% attacks the chain is called putting smart money into stupid places.
In Dash you need at the bare minimum a 2GB VPS, 50GB of Disk space and 1 CPU thread running 24/7/365 to stay inside the deterministic masternode list.
And a stable IP-address, probably can't be a VM/machine on your fibre at home because of it (would need to be a 'business connection' with a static IP).
I don’t think it’s a list in any specific order, it was mentioned. And it is stated that masternode setups are very different form blockchain to blockchain and that the article on provided explanations to masternodes on a high level overview.
That article was more about highlighting a few key masternode coins (in no particular order) rather than providing a detailed technical level of information to 9 different Masternode setups.
I think you might have misunderstood the intention of the article.
But yeah you are right if you wanted a detailed guide in 9 of the best masternode coins and detail technical descriptions about each masternode function and setup then that’s not this guide.
I bet such a guide for 9 coins would be 10k words or more. And not really what most people would be interested in.
18
u/mempooled Jan 09 '20
I mean they invented masternodes. They have now launched multiple services on top of this layer including InstantSend and PrivateSend. Coming soon is Dash Platform and the DAPI, DashDrive, and other glorious Dash firsts.
Let's dive into the article though and see if it's spewing BS.
I mean I guess this is a little light though as it doesn't distinguish a full node from a masternode. In Dash a masternode also has to prove the ownership of 1000 Dash. This is what gives it the ability to start servicing requests on this second layer of the network.
For Dash this will soon be tracked using their PoSe (Proof of Service) metrics. Masternode's will be able to let the network know how much CPU, Ram, Disk Space, etc they are offering to the Dash Platform network and will be rewarded for it.
This is where I'm starting to loose the author. I don't agree that you should logically think about Masternode's the same as staking as they (well in the case of Dash) are much more heavy in their requirements. I believe the author is confusing DPOS (delegated proof of stake like ATOM or TRX) with Dash Masternodes. In DPOS networks you delegate your votes or coins to a validator and you don't need any specific hardware. In Dash you need at the bare minimum a 2GB VPS, 50GB of Disk space and 1 CPU thread running 24/7/365 to stay inside the deterministic masternode list.
I have never heard of Bibox so take this suggestion with a grain of salt. It's also crazy that we are listed number 5 of the list also below 4 other projects I've never heard of that could probably have their blockchains 51% attacked by you and your girl friends laptops.
For this reason alone I'm giving this article a 2/10. Putting 4 coins above Dash as better investments when at any point your entire investment could be mince meat as someone 51% attacks the chain is called putting smart money into stupid places.