MARKNetwork Education Part 5:

What is MARKMining Masternodes as a Service?

Short summary of the article:

“Do not get left behind!”

»Setting up and running an entire Masternode by yourself is a big responsibility. MARKMining intends to make Masternode participation simple enough with easy-to-use Masternode hosting service.«

MARKMining Shared Masternodes as a Service

Whether you are new to the blockchain ecosystem or a veteran, Masternodes intrigue you.

 

If you have been reading our recent posts, you already have answers to the basic questions of Masternodes. As they provide crucial services to the blockchain network, cryptocurrencies with Masternodes are more stable. These full nodes with a copy of blockchain transactions oversee the entire network making sure the improperly created blocks are rejected.

 

If you are still reading this, you seem to be willing to participate in running a Masternode.

 

Setting up and running an entire Masternode by yourself is a big responsibility. One needs to be technically equipped, to power a Masternode in a secure and reliable manner.

 

You need not to be a blockgeek but it is no cake walk.

 

MARKMining intends to make Masternode participation simple enough with easy-to-use Masternode hosting service. 

How is MARKMining filling the gap with its Masternode hosting service?

Hosting around 15 coins when the service starts, MARKMining will offer its users a decentralized platform to participate in powering a Masternode. Let us understand the problems addressed by MARKMining a web-based Masternode hosting service:

 

  • Simplicity is the key

 

MARKMining is a simple to use platform that hides all the complexities of the actual Masternode setup. All an enthusiastic participant needs to do is sign-up and send coins to a wallet address to power the Masternode of preferred blockchain network without losing control of their coins. The users can deposit and withdraw the coins as and when they wish.

 

  • Lowers Entry Barrier

 

The non-hosted way of setting up a Masternode requires the user to set up, secure and maintain a decentralized server. This server powers the operations of Masternode. User needs to stake a minimum amount of cryptocurrency that varies from one blockchain network to other.Generally, the entry barrier is high:

 

  • 1 Masternode of Dash needs 1,000 Dash to commence its operations
  • 1 Masternode of PIVX needs 10,000 PIVX to commence its operations

 

MARKMining is offering an ecosystem where the user can choose to run a full Masternode by staking 100% collateral or a minimum of 1% collateral to share the Masternode. In the case of shared hosting, the fee distribution will be in proportion of the participant’s collateral share.

 

  • Full control over the fee withdrawals

 

The Masternode participants over MARKMining will have manual and automatic options to withdraw the fees generated by the Masternodes their coins power. The frequency of the withdrawals can be set by the user himself and can be changed anytime they wish.

 

  • Affordable way to run a Masternode
MARKMining: Full and Shared Masternodes as a Service

Running a Masternode by setting up a dedicated decentralized server is a costly and tedious affair. MARKMining platform usage charges vary as per the category of Masternode coins defined by the MARKMining team:

  • Green Traffic Light Coins – We have grouped Green Masternode Blockchains based on the following standards. Green Masternode Blockchains offer a team, common documents and a real product or service. These Green Blockchains are often more established Blockchains that have been on the market for longer periods of time and have a strong industry foundation. Generally, the fee that these Green Masternodes receive is relatively low compared to the Yellow or Red Traffic Light Masternode Blockchains. MARKMining collects a 10% mining fee for using the MARKMining services with Green Masternode Blockchains.
  • Yellow Traffic Light Coins – We have grouped Yellow Masternode Blockchains based on the following standards. Yellow Masternode Blockchains offer a team, common documents and a real product or service. Although these are often Blockchains that have been on the market for a longer period of time, they may not currently have as strong of an industry foundation as the Green category blockchains, but may develop a stronger foundation in the near future. Generally, the fee that these Yellow Masternodes receive is lower than the Red Traffic Light Masternode Blockchains, but higher than the Green Traffic Light Masternode Blockchains. The risks associated with these Yellow Blockchains may also be higher than Green Blockchains. MARKMining collects a 12.5% mining fee for using the MARKMining services with Yellow Masternode Blockchains.
  • Red Traffic Light coins – We have grouped Red Masternode Blockchains based on the following standards. Red Masternodes offer a team or common documents but do not yet offer any complete product or service. These are often Blockchains that are newer to the market and have not yet created a strong industry foundation or fully developed product or service, but have potential to do so. Generally, the fee that these Red Masternodes receive is higher than the Yellow and Green Traffic Light Masternode Blockchains, but the risks associated with using these Masternodes may also be much higher. Such Masternode Blockchains may be subject to extremely high volatility and more unpredictable results. MARKMining collects a 15% mining fee for using the MARKMining services with Red Masternode Blockchains.

Attention: The Masternode grouping system and information provided by MARKMining is only an opinion meant to inform you of the MARKMining service structure. You must decide which Masternode Blockchain you would like to use based on your own complete research and understanding of blockchain technology, Masternode systems, and the risks involved with their use and the use of the MARKMining services. We require that you do your own complete research, understand the risks involved, and review and accept the MARKMining Terms of Service before using the MARKMining service. 

The platform service charge is deducted from the fee generated by the Masternode you own. For this negligible amount of charge, MARKMining platform automatically configures the server, downloads and synchronizes the copy of blockchain transactions, maintain the Blockchain Masternodes and its wallets with required updates, automatically. All you are responsible for is making the selection of the blockchain network you wish to power and the timing of deposits and withdrawals.

  • Manual and automatic re-use of fees

The users of MARKMining do not necessarily need to withdraw the fee generated by the Masternode they run. They can always opt to re-deploy their fees back into the decentralized system. Using the fee they can buy more shares of same Masternode or any other Masternode. The user remains in full control of partial or full amount deployment of the fee to the system.

  • Regular notification

While setting up a Masternode all by yourself may sound interesting to the techies, monitoring the Masternodes becomes an added burden. With MARKMining network, you sign-up with email and will be notified on the same for all your transactions – manual or automated. Once your full or shared Masternode is active, you are notified on email if you opt for email notifications. This ensures you will always stay on top of things without actually having to monitor the Masternodes 24*7. It is for your own benefit if you keep a watch on the Masternodes you run on MARKMining services.

Final thought

MARKMining is a completely automatic and intuitive platform to run decentralized cryptocurrency Masternodes with reliable hosting service. Built over cutting edge technology, the platform is a part of the MARKNetwork ecosystem service that enables the crypto enthusiast to participate in the growing ecosystem of Masternodes in an easy to use, hassle-free and quick to setup manner.

 

With an active community on Discord, MARKMining experts are there to address all your queries.

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