Get to Know the Energi Masternode
Have you ever wondered how you can run a NIX masternode and make a profit? Well, in this article I will give you a deeper look into the project itself as well as a guide on how to set up your own NIX masternode and get rewards.
NIX is a unique project that aims at solving the issues that come with adapting crypto technology to different aspects of business. It does this by providing privacy mechanisms, solutions for scaling, adaptation of smart contracts, sidechains and more while retaining its user-friendliness and be as simple as possible.
The network also has its own Ghost protocol, which is a combination of the Zerocoin protocol with one-time integrated Zerocoin addresses and a Tor network. The development team also plans on implementing support for atomic swaps that should be compatible with the protocol and providing privacy even for transactions between different chains.
How to Make Money From NRG Masternodes
To get things started, you’ll need to lock a collateral of 10,000 NRG coins into your wallet. 40% of the block reward is distributed to NRG masternode operators, another 40% is dedicated to the Treasury, while 10% goes to the miners for their contribution to the network and 10% are dedicated for the project’s maintenance. The rewarding system is based on the FIFO (First-In-First-Out) method, which means that once you receive an award, you’re going on the back of the queue to wait once again for your turn to come. Currently, there are around 380 masternode operators or about 32% of the network’s coins are locked in collaterals. The average ROI for an Energi masternode is roughly 120% (303 days).
Energi Masternode Setup
MINIMUM REQUIREMENTS
Below, you will find the mandatory steps to getting your Energi masternode setup:
- First obtain the collateral of 10,000 NRG coins and at least one more additional coin to pay for your transaction from an exchange such as Crypto Bridge or Digifinex
- Then download the official Energi wallet
- Finally, set up or rent a VPS from a reputable provider like Vultr with at least a 1 Core CPU, 1GB RAM and 25GB+ of HDD space
- Make sure to have a dedicated, static IP address
- linux
- wallet
- energi
How to Set Up a NRG Masternode Step by Step
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Rent a VPS server and install version 16.04 of Ubuntu, 64-bit. Keep in mind the requirement of 1GB RAM memory and a single core processor before you pay for this service.
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Use the PuTTy program to connect to your VPS as root.
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Install the official NRG wallet on your personal computer, which will be your controlling software and remotely navigate the setting of the masternode on the VPS device.
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Send the collateral of 10,000 NRGs to your wallet. Make sure it’s exactly 10,000 NRG or the system won’t detect you as a masternode.
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Run your Energi masternode on both machines and check if it’s working properly on both of them.