One of the most important requirement to set a masternode is to have determined amount of cryptocurrency’s units which cannot be spent on any action. If you’re planning to set a masternode – you can do it on your own. Just remember to have proper technical knowledge and a server with dedicated IP address. Set your server, pay certain safety net and take care of its maintenance.
What are masternodes? Those are special wallets, synchronized with blockchain, which e.g. confirms transactions and hooks up additional service. They are similar to miners. They process every operation and collect some part of coins from the block. The whole profit distributes among all participants.
If you want to set a masternode – just pay 1000 FTO into your private account to which nobody but you have access – it will contribute to the network and earn. It’s 100% safe – you can cash out any quantity of FTOs. Then your masternode will stop working immediately.
Remember – when the FTO’s prize increase – an input to become masternode will increase too. That’s why there are two ways to become masternode. An individual one – when you transfer 1000 FTO on account or the second option – to create a masternode pool where you have to pay some part of financial measures together with other users. When a share hits a goal then a block starts process of award division for mined block. The quicker you decide to set your masternode – the quicker you can get your reimbursement. Step by step instructions and more specific information about becoming a masternode will be published soon – stay tuned then!
If you want to know something more about development of cryptocurrency – check out Cryptocurrency and blockchain development or another of our articles.