Syscoin 4.2 Advancements:  Next-level Masternodes

We are all very focused and excited about the coming release of Syscoin 4.2. The advancements and benefits it will make possible are numerous for our community, and for enterprises, organizations, and the blockchain industry as a whole.

In our previous article we covered Syscoin’s upcoming Network-enforced Compliance Rulesets. In this article you'll get a sneak peek at Syscoin's new and improved masternodes!

Syscoin 4.2 will feature an upgraded masternodes network that follows Dash’s new Evo design. This will introduce numerous improvements in functionality and efficiency.

On-chain Masternodes

On-chain (deterministic) means all masternodes utilize the same masternode list which they will collectively maintain on the blockchain. This leads to a lot of improvements, including:

  • Masternodes that update and refer to the same accurate list instead of maintaining their own independent list with no guarantee of matching others.
  • More accurate information on controller nodes
  • A faster, simpler, and more reliable initial startup process
  • Less network traffic
  • Reward payments become more auditable
  • Service scoring
  • Improved quorums that will be useful for future Syscoin features
  • Separate keys for owner, operator, and voter, for improved security

A More Efficient Network

A big benefit to Syscoin is that masternodes will no longer create unnecessary network traffic such as broadcasting their heartbeat (sentinel ping). Less traffic means better network responsiveness and more bandwidth for Z-DAG transactions. Our masternodes and other Syscoin full nodes are designed to relay Z-DAG transactions across our network as quickly as possible. 

Improving network efficiency leads to better throughput-scalability. Solving the industry-wide challenge of scalability is a big focus for Syscoin, and an efficient network for our unique Z-DAG Protocol is one key to this.

Payout Address Flexibility

Owners will be able to specify their payout address. This can be any Syscoin address of your choosing other than the collateral address. Further, you will have the option to pay an operator separately by specifying a non-zero percentage of your rewards to be paid to them.

The Same Great Rewards

Syscoin’s masternode rewards and seniority bonus schedule remain the same! Any existing seniority achieved will be retained across the transition to version 4.2. You can learn more about the benefits, rewards, and bonuses of owning a Syscoin masternode at sysnode.info.

Learn More

DIP-0003 provides an in-depth look at the new Evo-based masternodes.

Oct 15, 2020 by Syscoin Foundation, SMT