Syscoin Masternodes

Syscoin Masternodes were launched and implemented along with Syscoin 3.0 on May 1st 2018. Based on Dash code, Syscoin masternodes offer the basic features of Governance, InstantSend, and PrivateSend, as well as extensive enhancements and additional use cases. Learn more below.

  • InstantSend

  • PrivateSend

  • Governance

Services and Features Unique to Syscoin Masternodes

What sets Syscoin Masternodes apart?

  • Z-DAG Protocol’s instant Asset transfer
  • Scalability
  • Facilitation of future Syscoin features and services
  • Seniority benefits to masternode operators

Innovations will continue to emerge as the protocol is improved and extended.

Community Governance

How does community governance work?

Funds are generated by the Syscoin blockchain superblock each month. Anyone can apply to receive a set amount of funds specified in the proposal. Masternode owners vote on the proposals via the Syscoin blockchain and funds are distributed to those that are approved. Successful projects tend to be those that support and advance Syscoin Platform, such as third-party marketing initiatives and application development.

Reward

75% of each block reward is distributed to Masternode operators. Each payout amounts to roughly 25 SYS, not including Seniority Benefits and Transaction Rewards.

As a seniority benefit, Masternode operators receive +3% to their base reward for every four months that collateral for an active Masternode is kept locked at the same address.

Hosting Requirements

What do you need to do to host a Syscoin Masternode?

First, hosting a Syscoin Masternode requires pledging 100,000 SYS to the network. The collateral is ‘locked’ for the lifespan of the Masternode at a Syscoin address you own, and can be withdrawn at any time by you. Note: It may be stored in a cold wallet.

Further, Masternodes require the following system specifications at minimum:

  • VPS running Ubuntu 16.04 LTS x64

  • 1+ CPU

  • 2GB+ memory

  • 40GB+ SSD hard drive

  • Static IP Address

And that’s it!

Are you interested in learning how to setup Syscoin Masternodes?

Check out Justin Silver's blog for a helpful guide which includes an easy-to-use install script.