In 2018, huge number of new cryptocurrencies started to use the mechanism of masternodes as a way to strengthen their network. If we compare these coins to algorithms based on the Proof of Work concept, masternodes offer a new way of achieving consensus on the blockchain.
What are Masternodes and How You Can Use Them
Masternodes can also be attractive as assets that generate passive income. In principle, the person who wants to set up a masternode has to purchase a certain amount of coins. The coins that are purchased can be used like a collateral in the process of setting up a node on the network. So, if you hold a certain amount of coins, you are guaranteed passive income as an owner of the masternode on a monthly or yearly basis.
The node has to be online most of the time and communicate with the rest of the network, which usually means setting up a dedicated hosting and installing the necessary software.
Many investors have no clue how to set up and then maintain a masternode. This process often requires technical knowledge, using linux based operating systems with command line interfaces. The system has to be secured against network attacks and other security issues.
But at the end of the day, you don’t have to be a person with technical background to invest in a masternode.
The Masternode Foundation Platform
The Masternode Foundation Services and their specialized (MANO Host) service are designed to help a potential investor to automate the process of creation and maintaining of masternodes.
MANO Host will make it possible for the investors to host masternodes without any previous technical knowledge, experience about the linux operating system, or knowledge related to securing a full node on the blockchain. All that will be possible for as little as $5 with just one click of your mouse.
Besides automation, MANO will offer masternode ranking service, which will be a list of masternode coins where the users can compare virtually all available masternode cryptocurrencies.
Another feature of this platform will be the MANO exchange, which is an exchange with trading pairs of coins that run masternodes.
The MANO Coin
The MANO platform will issue its own native cryptocurrency called MANO. Much like bitcoin, MANO coin is a mineable decentralized currency that will be used as a means of exchange on the MANO network for the services provided by The Masternode Foundation.
MANO is a combined PoW/PoS system with 50 percent of mined coins and 50 percent of masternode coins. So a potential investor will be able to invest in the MANO coin masternode as well.
The proof of work part will utilize the lyra2z ASICS resistant algorithm. A bock on the blockchain will be mined in 2 minutes on average, with 10 MANO received by the miners coins as block reward. As already pointed out, 5 MANO coins will be paid as reward to the miners, and the remaining 5 coins will go to the masternode owners.
The halving of the reward that miners receive will occur once every year. There will be a total of 12.61 million coins ever created. This is a relatively low cryptocurrency supply, even compared to bitcoin’s 21 million, which should ensure high coin prices in the future.
The collateral for the MANO masternode will be 1,000 coins. Given the current market price of the corresponding coin, and the unique concept of this platform, this is an attractive opportunity.
The future plans for developing this platform include establishing a fully operational hosting service with one click setup. This service will be officially launched in October 2018. The launch of the MANO exchange should happen in the beginning next year. The exchange will have partner coins listing, audits, and third party security.
MANO coin is already listed in the Crypto Bridge exchange, which is a decentralized exchange especially supportive of masternode coins.
All in all, The Masternode Foundation platform has an interesting concept, a lot of interesting features and great potential for future growth.