INTRODUCTION
The world is developing at a very fast rate with the help of technology bringing out so many breakthroughs in the different sectors of the world and it was very much not surprising when a technological breakthrough in terms of payment system was invented in January 2009. Crpytocurrency dates way back in 2008 but was officially launched in January 2009 by a genious who does not want to be know but is popularly called Satoshi Nakamoto. The very first cryptocurrency to be launched was Bitcoin and ever since then so many cryptocurrencies have been generated into the system with popular among them being Ethereum, Litecoin, Dash etc.
Masternodes in the layman terms, simply means a network of computers that are connected over a network which communicate with each other. Individual computers within the system are referred to as nodes whiles some designated computers within the network that are tasked with special functions within the network are referred to as Masternodes. For example, within the Dash ecosystem nodes mine for new coins and the masternodes within network perform functions such as Instant Send and Private Send. There are several networks of Masternodes that are in operation but in this blog of mine, I would want to promote the Masternode Network that I think has the best of reward system and also has a secured platform which conducts transactions at a very fast rate than you can imagine.
Even though Masternode network have proven to be very beneficial unto the cryptospace, most of the existing masternode network have very common challenges that makes it not attractive for investors to come on board and run masternodes. This problem has really made the market cap of masternodes quite stagnant for quite some time now without any significant growth.
SHORTFALLS OF CURRENT MASTERNODE NETWORKS
High Cost of Setup
The system of masternodes requires that each member to have some specific amount of coins in order to operate on the masternode network. The require amount of coins to run on most masternode network coins are very expensive and this makes it difficult for most cryptopreneurs to invest into it. The crypto community is set that almost everybody wants to increase his/her cryptocurrency portfolio and hence in as much as we all invest into ICOs, staking in on a masternode network can serve as another source of generating income. Let us not forget that, the increase in value of masternode network will come from the influx of investors into the network and so if the cost of capital is very expensive then we can be rest assured that only few masternodes will be set up hence reduction in the overall marketcap.
Complex Technical Setup
The running of masternodes have been admired by several crypto enthusiasts due to the immense benefits it offers its members. However, running a masternode on most of the existing network entails a whole lot of intricate details and setup which most people have no idea about. Not forgetting the fact the cryptospace is made up of people with different level of knowledge in the running of masternodes. The setting up of a masternode sometimes requires some complex procedures such as Virtual Private Server, installing of wallet etc. I have personally encountered several problems with incompatibility issues related to the installing of local wallets unto computers.
Among all these challenges the one that is quite annoying is the situation whereby nodes running in a masternode network has to stay powered in order to receive block rewards. So in the case whereby there is a power cut off you stand to lose all the rewards that you are dued.
Unavailability of a Standardized Markets for Masternodes
Day in and day out new masternode network are being born into the crypto community but let’s ask ourselves if not for the fact that you might mistakenly get a feed from any social media platform there is no recognized market platform on which upcoming masternodes are announced. The common method employed by most community promoters is to use referall systems and other social media channels to announce the launching of a new masternode network which over the years has proven not efficient.
THE SOLUTION NODEBASE OFFERS
I have read about several masternode networks and I am very optimistic that Nodebase is a one-time solution to the masternode community. The following are some of the benefits that Nodebase Masternode Network offers to cryptopreneurs and crypto enthusiasts.
Hosting and Managing of Masternode Network
This feature and function of Nodebase is actually mind-blowing in the sense that Nodebase will serve as the one platform that will be hosting all the several masternode network in the cryptospace. By hosting and managing the masternode of members on the Nodebase platform, crypto enthusiast don’t have to necessarily stay up all night making sure that their computers stay online in order to receive rewards that are being mined. Nodebase takes care of all that, so apparently all that users have to do is to register on nodebase platform and select the particular masternode network that they want to invest with it.
The masternode will start working as soon as the specific requirements of that very network are met and all this are going to be in the care of Nodebase as it accumulates funds for users registered on the platform.
Making the running of Masternode accessible to all
Most of the times, the start up capital required to host a masternode is very expensive.This wards of several investors from coming on board but Nodebase masternode platform has come up with a system which will seek to make it available for members with at least 200NDB to also run in the masternode network and is entitled to some portion of the rewards that full masternodes receive. Please refer to image below to know how this Tiered Staking and Shared Masternode Hosting operates.
Please refer to the lightpaper for more information to get to know more amazing packages form Nodebase Masternode Network.
COIN SPECIFICATIONS AND BLOCK REWARDS
ROADMAP
CONCLUSION
Nodebase Masternode Network is going to be the one platform that will serve to host most masternode networks in the cryptospace and also ensure that users still earn their block rewards whiles they are away. To climax it all, Nodebase establish a platform that will serve to announce all up and coming masternode networks so that interested investors can get on board as soon as possible. Join the Nodebase Masternode Network and have the opportunity to stake with as low as 200NDB and earn till you get into a full Masternode.
Follow up on the contact lines below for more information about this project:
Website: http://nodebase.org/
Lightpaper: https://cdn.discordapp.com/attachments/476098466553266197/478726125003210753/NodeBase_Litepaper_V1.0.pdf
Twitter: https://mobile.twitter.com/TheRealNodeBase
Facebook: https://www.facebook.com/NodeBase-260052874828891/
Discord: https://discord.gg/6Bc3dM4
Authorship
Bitcointalk username: Kelvinikke
My Bitcointalk profile link is https://bitcointalk.org/index.php?action=profile;u=2087374
Nodebase Wallet: CWdqPx8dDvGo9q7NEsPHuNjeYT5DFs7s5E
Coins mentioned in post:
great! a masternode managing platform for the crpytospace will be of huge importance to almost every member of the masternode network.
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