Get to know the Diamond Masternode
The Diamond network hosts masternodes to keep the network alive and decentralized. These computers are connected to the network 24/7. In order to get masternode receipts, you need a static IP address and 10k DMD. What is more, the Diamond masternodes provide few additional functions, related to the transactions – MixTX (transactions are executed through the Diamond Wallet coin-mixer tool for extra anonymity) and QuickTX (send and receive confirmation happens in a jiffy, in a matter of seconds).
How to Make Money from DMD Masternodes
A Diamond masternode is perfect for those of you keen on setting the system for long term earnings. It can generate constant passive income for years with a payout of 65 % of the network rewards. The rest 35% goes to PoS. In order to become part of this technological mix of MN ecosystem, all you have to do is send an exact amount of 10,000 DMD, which will be used as a collateral. This amount of coins is used only as a proof, that you can be a service provider in the Diamond network. In case this is not for you, leaving the MN program is possible at any given moment, where you get to keep all your coins. However, remaining in the DMD masternode circle is helping with network efficiency and stability.
Diamond Masternode Setup
MINIMUM REQUIREMENTS
What you will need to set up a single DMD masternode:
- Acquire a VPS (a good provider is Linode including 1 vCPU core, 2 GB of RAM and 25 GB of hard drive space
- Install the latest version of Ubuntu
- Download the most up-to-date version of the wallet from Github
- Buy the required 10,000 DMD from exchanges like Bittrex and CryptoBridge and send them to the new address
- Generate a new masternode private key – in the opened QT wallet go to Tools/Debug Console and type in the command: masternode genkey
- Create masternode.conf file
- Start the MN. For more info check the official guide
- Linux
- wallet
- Diamond
How to Set Up a DMD Masternode Step by Step
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Begin by setting the VPS up. You can use the official guide, but the main requirements are at least 2GB of RAM and 25GB of free disk space
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Install Ubuntu 16.04 on your VPS and login using SSH via Putty for Windows
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After all the above is settled, install the last version of the wallet both on the machine and on the VPS. The main address must be generated on your PC. The collateral must be an exact amount of 10,000 DMG
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Now, send the coins to the MN address from an exchange or any other place. Then configure the masternode.conf file on the main machine itself
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Start the Diamond masternode and check if everything works properly