what is a masternode (short explanation)

Guess you all have heard about Masternodes, and the rewards system
I will use jiyo coin as an example

For people who dont know anything aboout masternodes, from now called MN
i will say, its like having a miner farm, without paying electricity bills!

Now for a little more deep explanation
you buy 20k jiyo coins, and place them in your wallet, and start the MN
After a while (24hours) you will start getting daily rewards
jiyobilde.png

In the picture you can see that i get two payments each day on 87.5 jiyo coins.
The red text, is coins that i sendt to my staking wallet, cause that gives me even more rewards

jiyobilde2.png

The 37.49 is my staking rewards, i get that also 2 times each day

So if you get in early, its easy to save up rewards, so you can buy another node for your rewards
What i have used as an example here is the way to get more MN, for the price of one!

This was just a short tread about the rewards system, i can make another post, about how they work, and what they do, And how staking helps the network, for more info, give a comment!
Superblock is also a important thing, and also trading volum, but this for another day

Sort:  

So basically you invest a lot of money in a coin so the devs reward you?