Get to Know the Denarius Masternode
Denarius masternode is a full node which means that it keeps a copy of the blockchain on the hard-drive. Also, the masternodes serve as an additional security layer and they help to keep the decentralization of the network in place. The features of Denarius are making a strong impression like Stealth Addresses, Encrypted massaging and of course Tribus. Tribus is a Proof of Work algorithm combining three of the most common and secure cryptography algorithms: JH, Keccak, and Echo. Denarius is a hybrid cryptocurrency offering high anonymity and untraceable transactions with validation time around 5 minutes. That’s because the default confirmation rate is 10 blocks with target 30 secs for each one.
There are several features related with the Denarius masternode which I can point as most prominent. Stealth Addresses assist you to keep a high level of privacy and more secure transactions. The Encrypted Messaging is also a benefit which I cannot miss to mention, again enchanting your privacy factor. Denarius is also supported by hybrid masternodes. Such masternode costs 5,000 D and delivers 33% of the block reward from both PoW and PoS. Cross-Chain Atomic Swaps allows to sell or buy Denarius without 3rd party participation.
How to Make Money From Denarius Masternodes
I previously explained how the Denarius Hybrid Masternode works, but let’s explore how the masternode reward is distributed and how much it is. Currently, we are in Year 2, block numbers 1,000,001-2,000,000 and the prize is equal to 4DNR. In the next time frame “Year 3” or between blocks 2,000,001-3,000,000 the masternode reward will be 3 DNR. The Proof of Work algorithm will be excluded from the process in 2020, currently there are 221 active Denarius masternodes. The approximate ROI up to this date is a bit more than a year – 425 days. The rewarding frequency is around 2 hours while each time a D masternode acquires the prize, he is going back to the queue waiting for his next turn.
A few more words regarding the masternode rewarding system now and in the future. The future phase which will be concentrated only on the PoS algorithm. The annual percentage rate (APR) of all stakers will be equal to 6% over 1 coin per year and additionally the transaction fees. The expected maximum stake is 50% of the coin supply.
Denarius Masternode Setup
MINIMUM REQUIREMENTS
- Purchase the collateral 5000 D from TradeOgre or Coinexchange
- Download, install and set up your official Denarius QT wallet
- VPS with minimum 2GB RAM and 10GB free hard drive space. Well-known VPS service provider is Vultr
- Ensure stable and strong internet connection altogether with a static IP address for your VPS and SHH software to connect to it
- Linux
- wallet
- Diamond
How to Set Up a Denarius Masternode Step by Step
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Pick and set your VPS. You can hire or assemble one on your own but bear in mind the the minimum requirements for setting up a D masternode
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Install OS on your VPS. To connect with your VPS, you need to SSH software and log in as root. Good software compatible with Windows is PuTTy, for MacOS that’s Terminal.app
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Install the official wallet. The wallet installation is needed on both devices, your VPS and your main machine. Right after you need to let them synchronize and it’s all done
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Supply your wallet. You need to purchase 5000 D nor more not less and send them to your wallet`s address. Configure the masternode.conf file on the main machine and its done
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Launch your Denarius masternode. Check if everything is working properly and that your main machine is synced with your VPS