Quote from: Dirgantara on May 31, 2017, 01:27:08 PM

Quote from: 110110101 on May 31, 2017, 11:51:36 AM

Quote from: BTCMINER6579 on May 31, 2017, 11:24:02 AM

How can i setup a masternode ?

Once we have made the transition to a X11 base, we will support masternodes on the network. Each masternode will require a 500 000 MUE collateral, but we will be offering shared masternodes as well, where each share will cost 10 000 MUE, but there will be a 10% hosting fee for the shares.

Once we are ready to make the move, we will publish guides and requirements to setting up a masternode on the MonetaryUnit network. Right now they are not supported, but people are encouraged to buy MUE for a masternode share or perhaps to have the whole collateral themselves.

I'm sorry but i'm sure there are some newbie untechnical beings out there just like me who wonder what's the main advantage of a masternode and why is it so interesting? Can you please explain it?

Hi! I'll ty to give an overview. Dash introduced the concept of masternodes as the backbone of their network. In Dash different actors are needed for the governing of the network. Compare to Bitcoin where the only paid actors are the miners, they get the whole block rewards + fees for securing the network. But as we have seen with the long going debate around the block size, Bitcoin has a major governance problem, simply because it lacks governance.

So, Dash gave us the concept of masternodes, special full nodes on the network that can perform additional functions;

supervise the coin mixing,
secure the instantsend transactions,
hold a copy of the blockchain on high performance networks,
take part in voting for governance proposals

For these services the masternode operators are paid 45% of the blockrewards, 18 MUE per block, to one masternode. The rest of the block reward, 45% gets paid to the miner who made the block, and the remaining 10% is used for funding the network, paying for contractors, developers, services etc that the masternode operators agree upon.

The governance function of the masternode operators, is very important as they are stakeholders in the network and seek to strengthen the MonetaryUnit network as much as they can. A stronger network, more services, etc are all resolved via voting as the masternode operators vote, once a month, on any proposals that have been made to the network. The votes helps resolve any issues, so we don't have any infectious discussions like the blocksize debate. The masternode operators make a vote, and that ends the discussion and we all move forward.

So, in summary, the masternodes perform technical functions on the network, and the masternode operator is allowed to vote on the path of how the network moves forward. This was just the very basics, and I have intentionally left out a bunch of details, but please ask more questions and we will try to explain further.