Ok here is what needs to happen before the coin gets to an exchange.
1.Hard fork implementing the Zawy difficulty algorithm in order to fix the nicehash issues.
2.New faster better looking and easier to use wallet.
3.Implementing Master Nodes
AND
4.Listing on a exchange
Patience is not simply the ability to wait - it's how we behave while we're waiting.
-Joyce Meyer
1st point is near...
2nd point is near too : while preparing the hardfork, I ask me if it will not be better to change the look and features of the gui wallet, so I did it.
3d point is tied : (2 nodes more are planned, so a total of four will be in use.)
To Answer people how want to know what is a master node : it's a 24/24, 7/7 node that is hard coded in wallets. so when you first start the wallet, those master nodes tell you where to find others peers to spread the blockchain. they also are used for validating transactions and block.
I know we miss communication but answers will come after the next major release.
For privacy : node doesn't matter : only the mixin in transactions. next release will use a mixin 5 by default (like monero but not mandatory)
Those nodes hardcoded in the wallet sound like
seed nodes to me.
Masternodes are nodes which enable instant transactions and the people operating them get a percentage of the tx fee. They need to hold however a certain amount of coins as collateral to qualify as "masternode".
I don't remember which coin had those first (Dash?) but since then every coin and its dog goes that route. Because a) it enables people to earn interest with a (Pos-free) PoW coin and b) it locks the collateral which means it cuts the supply on the exchange, resulting in an artificial price increase.
From what I understand Iridium does not have masternodes on the roadmap, neither are they being worked on.
If anyone can come up with a good argument why masternodes make sense technically in a coin which can do the mixin without masternodes, please do so.