Syscoin is recognized as the fast, secure, and decentralized platform for tokenized assets. Our incentivized full nodes are part of the vital infrastructure that makes this, and more, possible.
What They Provide
- High-throughput relay network for Syscoin's Z-DAG protocol
- Service layer for future capabilities and features
- Income and seniority bonuses to owners
- Decentralized community governance
Innovations will continue to emerge as the protocol is improved and extended.
How does decentralized governance work?
Each month a pot of governance funding is generated by the Syscoin blockchain ‘superblock’. Any individual or group can submit a proposal to receive some of these funds. Masternode owners vote on the proposals using voting technology embedded in the Syscoin blockchain (accessible via the Qt wallet or syshub.org), and at the end of the monthly voting period funds are distributed to the proposals with the greatest number of positive votes. Successful projects tend to be those that support and advance Syscoin Platform, such as marketing initiatives and application development.
View the current list of proposals and other governance details at sysnode.info.
75% of each regular block reward is distributed to Masternode operators as an incentive to continue running the node. Each payout amounts to roughly 25 SYS, though this will increase over time due to the Seniority Benefits mechanism. The likelihood of a Masternode receiving a payout is inversely proportional to the total number of Masternodes on the network. At the time of writing, a Masternode is likely to receive a 25 SYS reward roughly once every 24 hours.
As a seniority benefit, Masternode operators receive a 35% bonus to their base reward after one year, and a 100% bonus after two and a half years. This benefit is paid only if the collateral for an active Masternode is kept locked at the same address for the entire qualification period.
What you need to host a Syscoin Masternode?
Hosting a Syscoin Masternode requires pledging 100,000 SYS to the network. This collateral is sent to an address you own, where you keep it locked for the lifespan of the masternode. A cold (offline) wallet is recommended for security. You can withdraw the collateral at any time should you decide to stop running your masternode.
Masternodes require the following system specifications at minimum:
Ubuntu 18.04.1 LTS
with C++17 compiler + KVM or OpenVZ (KVM preferred)
2 Core x64 CPU w/SSE
4 Core Recommended
8GB+ Recommended or 4GB Swap File if under 8GB
80GB+ SSD Hard Disk