MARKNetwork Education Part 8:
Top 5 Masternode Blockchains
Short summary of the article:
“Do not get left behind!”
»Supporting a Masternode is a lot of hardwork while we at MARKMining make the job easy for you. We want you to be doubly sure about the Masternodes you wish to host. What follows ahead are the details of the top five blockchains and their reward generation mechanism, what is their current market capitalization and how do they differ from each other.«
Crypto coins based on Proof-of-Stake consensus offer coin holders an opportunity to participate in transaction validations over the blockchain. While the coin holders need to commit a certain amount of coins to the network, they receive fees in return of supporting the stability of the same.
The entire mechanism is known as Masternode hosting.
It is hard work to set up and maintain a Masternode. The process involves a minimum commitment of coins and a set up that supports Masternode operations. The minimum amount of coins is specific for every blockchain.
The MARKMining service will help you manage the hard work by offering
• Full or shared Masternode hosting
• Ready to use server set up and scripts
But, the Masternode in which one should participate is primarily a user’s decision. The obvious appeal comes from the stability of the blockchain. Take extra care to research the Masternodes you are considering to participate in. Begin from here as we introduce you to top 5 Masternode Blockchains:
What is Dash?
Dash pioneered the implementation of the Masternode system. The creator of Dash introduced Masternodes for mining transaction validation which was missing in Bitcoin. Moreover, a full Masternode of Dash is a server with a full copy of Dash blockchain.
Minimum Coins for Masternode required: 1,000 Dash for Full Masternode.
Dash ranks 15th on the CoinMarketCap with a market cap of about US $600 million(mid-December 2018) and a circulation of 8,511,861 Dash. The Dash Masternode participants receive a fee for the service they provide to the Dash network. A full Masternodes of Dash is allowed to make one vote on governance and funding proposals.
Understanding Dash Masternode Mechanism
Anyone who owns a minimum amount of Dash can run a Masternode. The coins are kept connected to the Masternode so that they stay transparent to the Dash network. If the participant or participants move the coins, the Dash Masternodestops working. For the Dash network, 45% of the block reward is paid out to the Masternodes.
Dash network selects Masternodes in each block from a list randomly. Once the Masternode is selected, it receives the fee and it is moved to the end of the list. If the participating Masternode goes offline or its collateral falls below the minimum coins for more than hour, the Masternode it is removed from the Masternode list.
What is PIVX?
PIVX is an acronym of Private Instant Verified Transaction. The PIVX project targets to develop a sustainable decentralized ecosystem that allows the flow of private and instant transactions. Currently the PIVX market cap as per CoinMarketCap is about US $29 million(mid-December 2018) with over 56,781,166 PIVX circulating placing it at 105th position among the crypto sphere.
Coins for Masternode required: 10,000 PIV for Full Masternode.
Understanding PIVX Masternode Mechanism
PIVX Masternodes provide various services to the network that range from transactional privacy, instant transactions, decentralized governance, and decentralized budgeting and voting support.
As the network operates, 6 PIV are created every 60 seconds. One of the 6 PIV’s goes to the growth of the PIVX project and the rest 5 are divided as per the below protocol:
3 PIV are given as a fee to Masternodes after every 60 seconds if the PIV staker found the block .
What is Zcoin?
Zcoin is a cryptocurrency project that focuses on enhancing the privacy and anonymity of the blockchain for its users. With the implementation of Znodes (Masternodes) for performing Zerocoin transactions, the network ensures higher confidentiality and anonymity.
Zcoin currently ranks 110th on CoinMarketCap, with a total market capitalization of about US $26 million(mid of December 2018) and with a circulating supply of 5,757,841 XZC.
Coins for Masternode required: 1,000 XZC for Full Masternode.
Understanding ZCoinMasternode Mechanism
ZcoinMasternodes are known as Znodes. There are some major differences between the Dash and ZcoinMasternodes. Zcoins offers enhanced censorship resistance and a more resilient network as compared to Dash.
Znodes receive a minimum of 15 ZXC or 30% of each block reward.
What is Syscoin?
Syscoin offers it users a decentralized marketplace that is powered by blockchain. Popular for facilitating zero cost financial transactions, unparalleled speed and infrastructure provision for the trade of goods, assets, digital certificates and data over a secure network.
With a market cap of about US $25 million(mid of December 2018), around 545,145,180 SYS are in circulation ranking it at 114 in the crypto sphere.
Coins for Masternode required: 100,000 SYS for Full Masternode.
Understanding SYSCoinMasternode Mechanism
SYScoinMasternodes are responsible for rendering anonymity to the transactions and facilitating instant payments. The SyscoinMasternode participation fee distribution follows a protocol determined by the block height that impacts the seniority of the Masternode.
75% of the block reward is distributed as Masternode fee to the randomly chosen Masternodes. This process occurs after every 60 seconds.
What is Lindacoin?
Lindacoin is a new age democratic, fast, and unique cryptocurrency. Linda’s Masternodes render higher privacy, better encryption and support atomic swap to the Linda blockchain. With the current market capitalization of about US $5 million (mid of December 2018) and circulation of 11,403,959,389 LINDA, it ranks on 356th position on CoinMarketCap.
Coins for Masternode required: 30,000,000 Linda for Full Masternode.
Understanding LindacoinMasternode Mechanism
Lindacoin’sMasternodes are what makes it stand out from all the other cryptocoins because the Lindacoin’sMasternodes receive a comparatively large amount of participation fees.
LindacoinMasternode participation fee distribution follows the protocol:
Masternodes get 50% of the block’s total mining reward where the block time is 90 seconds.
Masternodes were added as a second layer to the Blockchain network to provide governance support. All the Masternode participants receive a fee in return for supporting the network.
It is highly advisable to participate in running a Masternode after a thorough analysis. MARKMining offers Masternode hosting service (once started)which shortens your time and supports shared collateral to participate in a Masternode. The selection of the Masternode is at your discretion always.
Do your own research!
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