A masternode is a server that underpins a blockchain’s network. Masternode is considered a great alternative to mining due its low energy costs. Masternodes are nodes running the wallet software 24/7 to provide extra services to the network. For providing such services, masternodes are also paid a certain portion of reward for each block. This can serve as a passive income to the masternode owners minus their running cost. Masternode owners prove their position to the network by locking down 10 000 MAG as masternode collateral.
What is a Masternode?
MAG MASTERNODE AS FIRST-CLASS ASSET
We strongly believe that the incentivized two-tier model brought about by masternodes is the best way to create the commitment and retention needed for perennial growth. In addition to creating a robust and highly serviceable network, we see the masternode ecosystem as a means to long-term investment. Therefore, we want to give masternode owners the tools they need to get the most out of their investment on the Magnet network.
What do i need to host a MAG Masternode?
10 000 MAG
Amount of MAG needed to set up your own Masternode and start earning rewards from your Masternode provided services.
Simple everyday computer for running Control wallet.
VPS Masternode Server
Rented Virtual Private Server (Ubuntu 14.04/16.04/18.04) with a unique IP address for running Remote wallet.
BE AWARE! Setting up a Masternode is not an easy task to take on if you are not technically able person. If you have decided to follow through then please kindly follow the link below to basic MAG Masternode setup guide. Read through tutorial and make sure you are ready to do this, because faulty setup can in some rare cases mean lost Masternode collateral.