Ok, I've been asked "what is a masternode?". I'll try to explain, but I don't have 100% of the concept yet, feel free to correct me where I may be wrong.


To know what a master node is, you have to know what a regular node is. A regular node is a computer that serves as a blockchain dispensary, where you can download the blockchain from and where miners get the info to mine (check transactions). The nodes issue the blocks to us when mining or staking or for other features that issue blocks. Wallets are ledger keepers, Miners are ledger checkers, and Nodes are the issuer of the blocks.

A master node is a permanently selected computer (server?) that stays online and get paid for (a form of) staking. I'm not exactly sure how this works because I have no "hand's on" experience in this department. Master nodes require a certain amount of coin determined by the code and/or dev, to be invested for long periods on time, which I think is the same as a longer staking time like when you can't access your coins when your coins are staking. Master nodes require that you have DDOS protection, you will be targeted for an attack at some point. If the dev's are 'hosting' the Masternodes for a fee, we wouldn't need to worry about if we need equipment or ddos, but then is more centralized. Masternodes are supposed to be a more more decentralized version of the few 'selected' regular nodes, this is how I think the anonymous feature works in respect like what Bitorrent did for Napster.
 
Masternodes require a little bit of luck to be paid. Master nodes need to be selected to by the miners sending back the info of checking transactions for the masternodes to issue a block. More masternodes, the harder it is to get picked. When your masternode gets picked, that's when you get paid.

Again, I'm sorry if I don't have the concept down to a science yet like how I know the other features of this coin like the back of my hand, and please please please correct me if I'm wrong. I don't like to mis-inform people.