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PROOF OF WORK, PROOF OF STAKE, MASTERNODES

About

Our network is designed so anyone can benefit from holding and supporting the coin.

Magnet is both community-oriented and still strongly coupled with our vision of network scalability, allowing us to grow and withstand the intensity and speed of all blockchain technology. By keeping the tenets of a decentralized network and focusing the community directives we can couple the best of both world in cryptocurrency with the utilization of masternodes. In our first year, a lot of attention will be given to the Magnet Wallet, specifically focusing on the user experience (UX) creating a wallet that is overall smoother and richer in features. Masternode owners will have access to tutorials, tools and documentation that bring clarity to users on all levels of experience. The final part of the initial wallet and masternode creation will be the Magnet wallet (MW2.0) with features that make developing on the Magnetwork a possibility for other developers. All the features will be implemented with appropriate coding and testing in order to preserve maximum network security while opening up our product to new possibilities.

A fundamental part of the Magnet vision is the belief that there must be a balance struck between the electrical cost of processing blocks and the security of all transactions. Magnet is developing protocols to utilize more electrically efficient POW mining to keep the crucial security at the lowest cost to the planet, but continuing to build on the POS foundation that is inherently more cost efficient. We are currently researching a variety of renewable energies and the most efficient way to harness them into the mining process. In time this research will grow into a platform for investing in renewable energy mining with scalability continuing to be a prominent part of our direction. Green technology that will underpin our network is part of our growing Magnet infrastructure and while in development stages we expect this to be available to the public in 2018. Our goals for the near future can be found in the Roadmap section of our website.

MAGNET IS GROWING TO BE A TRANSPARENT AND ACCESSIBLE PAYMENT OPTION FOR USERS TO EXCHANGE VALUE SAFELY.


Wallet Synchronization Guide

To Access Magnet Wallet Data Folder
Windows 
Locate folder %Appdata%/Magnet
Linux
Ctrl+H in Home folder should reveal .magnet folder.
If not – start the wallet and close to create it.
MacOS 
Alt(Option) + Finder > GO > Library.
When the Library opens find Application Support > Magnet


Close wallet and open magnet.conf file from data folder.
Paste following code in magnet.conf file.

rpcallowip=127.0.0.1
rpcport=17179
rpcuser=INSERT_YOUR_USERNAME
rpcpassword=INSERT_YOUR_PASSWORD
server=1
daemon=1
listen=1
staking=1
port=17177
debug=all
addnode=35.195.167.40:17177
addnode=35.199.188.194:17177
addnode=104.196.155.39:17177
addnode=35.197.228.109:17177
addnode=35.198.35.45:17177
addnode=35.197.145.93:17177
addnode=35.199.1.114:17177
addnode=35.201.4.254:17177
addnode=35.188.240.39:17177
addnode=35.199.48.8:17177
addnode=146.148.79.31:17177
addnode=104.196.202.240:17177
addnode=35.195.122.245:17177
addnode=35.198.82.29:17177
addnode=35.200.247.198:17177

MINING POOL

Start mining Magnet today, we have our official mining pool ready for you. Please head over to Magnetpool.io

stratum+tcp://magnetpool.io:3533 Default Diff: 92

Pool fee 0.5%

When setting up the miner use Your Magnet Address as Username so we know where to send the rewards.
Find more info from pool website!

MASTERNODES

GUIDE FOR COLD WALLET MASTERNODE ON LINUX FOR BEGINNERS DOWNLOAD
GUIDE FOR HOT WALLET MASTERNODE ON LINUX DOWNLOAD
GUIDE FOR COLD WALLET + MASTERNODE ON LINUX VPS: DOWNLOAD

Keep in mind that staking = 0 line must be added to the magnet.conf file for accurate Masternode Ranking.
Default is staking = 1 so Masternode ranking resets with every staking reward.

MASTERNODE REQUIREMENT
10000 MAG

Soft Lock Update
Masternode owners have the ability to “soft” lock the masternode collateral. When the option is turned on, the wallet will not select masternode transaction as input to new transactions. This behavior can be overridden by using the Coin Control Features and explicitly selecting the collateral. Simply add the following line to your config file to use: masternodesoftlock=1

Masternode Tools
http://magnetwork.io/checkmn/
http://mnrank.com
http://masternodes.online
https://www.crypto-coinz.net/master-node-calculator/

WHITE PAPER 1.0

FAQ

GET MAGNETIZED

MAGNET is available to trade on these Exchanges :

TEAM


THOUGHT

Holds everything together.

Roland
Head Developer

LOGIC

Makes it happen.

Frederic Rezeau
Head Developer

VOICE

Supports the ones in need.

Nord
Community support