1. Masternode, what is it?
Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like your have Bitcoin full nodes and is always up & running.
But masternodes are considerably different in their functionality than normal nodes.
They are different because they perform several other functions apart from just keeping the full blockchain and relaying blocks/transactions as a full node does in Bitcoin/Litcoin.
Some of the special functions that these nodes perform are:
- Increasing privacy of transactions
- Doing instant transactions
- Participating in governance and voting
- Enable budgeting and treasury system in cryptos
These masternodes are not standalone but they are always communicating with other such nodes to make a decentralized network and are often referred in short form as MN.
2. Game ON!
So, you've heard about masternode, took a look at what they stand for and you see it as a good investment opportunity. Next step is to choose your desired coin.
2.1. Shekel Case
Meet Shekel
What is Sheckel? According to their whitepaper, Shekel is a blockchain technology enabled open-source and privacy-focused digital curency. The technology is driven by the Dash masternodes. The relationship between Bitcoin, Dash and Shekel are: while Dash is a Bitcoin fork (an improvement on Bitcoin), Shekel is a Dash fork (an improvement on Dash). With Shekel Wallets, one can simply carry out instant and private transactions that are backed by the Shekel blockchain.
Masternode Requirements
Masternode Profitability
How to set-up a Masternode on Linux
