Masternodes can be a lucrative cryptocurrency investment if you have enough money to buy into one. These nodes operate similar to mining but are also different. Masternodes don’t require copious amounts of hardware because they are operated on a server. However require large sums of cryptocurrency to get started. The benefit to owning a masternode is that not only do you earn passive cryptocurrency for processing transactions, you also help build the value of the coin you’ve invested in. Furthermore, they are also greener than mining because they don’t use tons of electricity.
Knodin’s Solution To The MN Problem
The primary challenge to owning a masternode is the required minimum cryptocurrency holdings to validate a node. Some masternodes require hundreds of thousands of dollars in crypto holdings. Knodin Technologies is seeking to disrupt this by crowdfunding masternodes transparently on a blockchain. Users of the Knodin platform can convert their ETH to any featured masternode altcoin. Once fully backed, Knodin will launch a server for that masternode. Unlike most services, every transaction is stored on a distributed ledger to allow for users to have eyes on their money at all times. As the masternode validates transactions, each backer is paid a portion of the coin rewards that represents their share of the overall masternode backing.
Each masternode wallet is locked in a Knodin smart contract and is automatically disbursed unless all node backers vote to renew the term of the masternode. This keeps masternode wallets secure and safe while managing everyone’s expectations.
Knodin is currently in closed Alpha and will be entering a closed Beta in the next couple weeks. Those who have experience or interest in the masternode market can register for the beta on the Knodin Blog Beta Signup.