If you’ve ever contemplated generating passive income with masternodes, you likely recognize the primary requirement: collateral, the amount necessary to operate a full node. However, running a successful masternode entails fulfilling additional requirements. By the end of this post, you’ll understand what masternodes are and what prospective masternode owners need to fulfill.
Thank you for reading this post, don't forget to subscribe!What is a Masternode
Masternodes are full nodes running on server systems that are assigned to perform specific functions. Their utility goes beyond validating transactions on the network to addressing scalability issues and supporting features and functionalities that enable the network to keep up with the dynamics in the blockchain and crypto space. Owners of masternodes are rewarded for their contributions to the blockchain network.
Below are the requirements for DECENOMY masternode hosting:
Collateral
The primary requirement for running a node is collateral. Those interested in deploying a DECENOMY masternode must demonstrate ownership of a specific number of coins in a dedicated wallet. The collateral amount differs for each DECENOMY coin and can be found here.
Any of the DECENOMY coins can be conveniently acquired on the Birake crypto exchange. For example, at the time of writing, you will need to have 200,000 SAPP and 4000 FLS to run a Sapphire and a Flits masternodes respectively.
Virtual Private Server (VPS)
A VPS can be defined as a server responsible for hosting the data and software required to run an application. After meeting the collateral requirement (i.e. having the required number of coins to deploy a node), the next essential step is acquiring a Linux-based VPS, ideally running Ubuntu 22.04.
To set up a VPS for masternode hosting, you’ll need to acquire one from a hosting provider offering a dedicated IP address. While numerous hosting providers exist, DECEMONY recommends Contabo. Here is a complete guide on how to purchase and configure a VPS on Contabo.
With a single VPS and the Decenomy Multinode Script, masternode owners can install and maintain masternode multinode of DECENOMY coins. The script allows users to install more than one masternode of each DECENOMY coin on the same VPS. Learn how to install and deploy a masternode using the DECENOMY Multinode Script.
Hardware
DECENOMY masternodes have hardware requirements besides the collateral and server requirements. Below are the recommended hardware requirements for properly and flawlessly running DECENOMY masternodes:
- CPU – 2 vCPU cores
- RAM – 2 GB
- STORAGE – 10 GB
- Network – 32 TB/month
It’s always advisable to aim to meet or surpass the recommended requirements. This is because, using a VPS with lower specifications may disrupt the server, leading to node downtime. Furthermore, if you intend to use the DECENOMY multinode script to run several nodes, the requirements for hardware are slightly different. For instance, to handle 10 DECENOMY coins using the multinode script, the recommended requirement is as follows:
- CPU – 6 vCPU cores
- RAM – 16 GB
- STORAGE – 200 GB
- Network – 32 TB/month
The script offers real-time data on system resource usage. You can refer to these statistics to gauge the capacity for additional nodes on your VPS. It’s important to keep resource utilization below 80% to maintain optimal performance.
Conclusion
Running a masternode involves several requirements that owners must be aware of, including the collateral amount for the given coin, a Linux VPS, and specific hardware requirements. However, it’s worth noting that this approach is more traditional and demands a certain level of technical competence.
For individuals seeking a simpler solution to running masternodes, the Flits Wallet App could be a viable option to consider. Flits Wallet App allows users to manage masternodes with minimal fees and less technical complexities.
