It’s about time you learned that 'staking together' means that we are 'making together'. Far more than what you could ever achieve alone.
Stake United's Proof of Stake (PoS) MasterNode System: Never Stake Alone
Once you've sucessfully registered with Stake United, the learning process for masternodes becomes much easier.
So I wrote this piece for the naysayers, the fudders, the unbelievers, and everyone else who slams decentralized crypto services out a FEAR of losing their coins to something that is mismanaged or poorly coded.
That is NOT the case here.
The team behind this project is one of the best I’ve ever seen on the blockchain.
You can talk to them yourself through the discord here:
Observing them from the beginning of this project has been a wonderful experience. The blockchain starts and ends with the people who nurture the community.
Stake United definitely nurtures their community - BIG TIME.
“So so so so sooooooo many coins.”
That’s what I say to myself, with a big fat smile, when I look at my Stake United proof of stake mining Account Balance.
I’ve been staking for a couple of months now. Even through ALL of the FUD and blood in the markets, I’m still staking very hard, mining different coins everyday.
And to be honest, I don’t even know what some of them are for.
But personally, I do not care - it’s value - it's money, and it’s literally being plopped into my account everyday - automatically. There is a market for every single one of these coins, some on multiple exchanges. There are people willing to buy them when I decide to stop staking… if ever!
The coins I am mining are my own personal cascading income, built from a few small coins as an initial investment.
It’s a REALLY good feeling when you can completely ignore the market because you are guaranteeing yourself returns through proof of stake mining.
I know a lot of people find it hard to stomach the ups and downs that come with crypto volatility.
Which is understandable - this is your money after all.
But the blockchain allows for so much more financial innovation than simply buying and selling digital assets. Smart contracts have changed our world forever.
This is a technological wonderland is filled with so many opportunities for income.
So I’m happy I found this pool because it offers a crazy amount in terms flexibility to generate income through your favourite staking coins. And it is just so damn easy to use I can’t stop myself from throwing more coins into my staking wallets whenever I can.
Again I wrote apiece that explains how this pool can be used to generate wealth, passively, make sure you give that a read. Again, the process is very easy.
But most importantly, you should know that an amazing new system has now been implemented on Stake United.
Masternodes are now available for a great list of coins for those looking to add increased control and mining power to their portfolio.
Because you found this piece on masternodes, odds are you are already mining coins using proof of stake in your own wallet or a pool.
If not, this how to guide will show you how to get started.
A Step-by-Step, How to Crypto Guide: Stake United's proof of stake mining pool registration, and setting up your 1st stake
Hey - so if you are here, you probably had a chance to read the previous piece that explains the difference between mining cryptocurrency coins through proof of work, and forging coins through proof of stake.
Once done, continue on.
What is a masternode?
Education comes first with everything, so first we have to ask ourselves...
What are these masternodes?
Masternodes are computational beacons that are an actual copy of the blockchain for that particular cryptocurrency, in real time, and assist in the processing of data and transaction verification as that currency is traded on exchanges, or utilized on its respective platform.
We should differentiate that Bitcoin ‘full nodes’ are operating across the globe in order to assist in the cumbersome transaction process of trading Bitcoins.
Full nodes download every block and transaction and check them against Bitcoin’s core consensus rules. If a transaction or block does not follow the rules, it will be rejected even if every other node on the network thinks that is it valid.
Bringing us to one of most important aspects of 'full nodes', they do what’s right no matter what. There is no incentive for running full nodes for Bitcoin, only that you are assisting in the survival of the transaction blockchain. The incentive is simply keeping the blockchain alive…
Some alternative cryptocurrencies (altcoins) have the option of a masternode support.
Like the full node, everyone running a mastsernode, for an altcoin, provides vital services to the network.
But this time, you are creating a node in exchange for an income - mining (minting/forging) coins. So, by becoming a part of the ecosystem, and assisting in its computation and transaction, you are rewarded with coins for having a masternode of that coin.
Much different from the small staking wallets you may be used to up until now.
Masternodes are much bigger, and far more effective.
Usually a masternode is ‘filled’ with the respective coins it is acting as a node for, becoming a stronger beacon of transaction verification than just having transactions verified through individual staking wallets.
The sum of the whole is greater than its parts, so to speak.
The more coins you have in a master node, the more seats (delegation power) you have, the more transactions it can verify, and the more coins it can mine (mint/forge) for your wallet.
Think of a school of fish swimming in the sea - they are far more powerful together than they would be swimming alone.
The amount of turbulence this school creates, in the water, is exponentially higher than a single fish that is barely making waves.
Instead of individual staking wallets mining coins on their own, think of a masternode as multiple wallets (seats of coins) with multiple members combining their coins for a reinforced staking turbulence!
Other key differences in master nodes compared to normal nodes on the blockchain are:
- Increasing the privacy of transactions
- Allowing for instantaneous transactions
- Participation in the governance and voting of the blockchain rules
- Enabling a budgeting and treasury system for the blockchain
Masternodes can be run by anyone.
There is an entry barrier though, which makes sense - it prevents malicious individuals from using the nodes for nefarious reasons.
The entry level barrier is simply committing your coins as collateral to ensure that the masternode owner (you) does not deviate away from consensus rules, thereby corrupting the blockchain. Having stake, or ‘skin’ in the game, discourages the masternode operator from tampering with the blockchain and its rules. There is a level of responsibility for the developers who do choose to operate a node.
But of course with Stake United, all of these blockchain technicalities are none of your concern.
Young miner, do you do have what it 'stakes' to survive this ecosystem?
Masternodes have only been around since early 2017, when Dash implemented their master node system which required 1000 coins to start up.
At that time the cost of DASH was $10.
So you could have effectively built a DASH master node for $10,000 last year in 2017.
Now in 2018, if we were to have that same master node, it would be worth over $1 Million and pumping out over $60,000 in DASH for you every year.
You might have missed that boat!
But do not worry, Stake United has just implemented their master node system and user interface, allowing anyone to build master nodes for themselves, with the coins available for masternode mining on Stake United.
The best part is, Stake United does all of the work for you.
Things like: VPS servers to host, dedicated IP addresses, and storage space, are all included in the masternode system they’ve put in place.
All you need are the coins to fill the node with, and your income quite literally takes off.
Check out the next piece to see exactly which coins are available for masternode services on Stake United, as well as short, Step by Step, How To Crypto Guide, that will show you how to get started on your own masternode.
StakeUnited Daily Percentages
Overview * Historical records only, StakeUnited cannot promise or guarantee returns or rewards. * If you' d like to support your mods, consider adding lynda_ or karbanr07( Rich) as your referrer https:// identity. stakeunited. com/ Manage/ Index, You can do this after your account is created, a...
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