Get to Кnow the EtherZero Masternode

Etherzero (ETZ) is an innovative smart contract platform that provides services to DAPP developers and users. ETZ is using MPoS (Masternode Proof-of-Stake) consensus mechanism. It’s a two-layer consensus based on which the platform is capable of processing more than 1400 TPS transactions. Zero transaction fee and near-real-time transactions (a transaction is confirmed under 15s) are other two notable features of the platform.

Anyone can become an EtherZero masternode host. All you need is to have is an agreed amount of ETZ coins and a server that meets the requirements for that. The masternodes are responsible for the transaction processing and community autonomy. To ensure a high-degree of open decentralization, every hour, 21 masternodes are selected from all masternodes by random authorization algorithm to confirm transaction and generate blocks.

How to Make Money from EtherZero Masternodes

Running a masternode is a good way to earn some passive income while you support the network by processing transactions. Currently, active EtherZero masternodes receive 75% of each block reward, which at the moment of writing is 0.45ETZ. The rest 25% goes for the community budget. Due to the MPoS consensus algorithm, better performing masternodes can obtain more rewards since the blocks generated by masternodes with poor performance get discarded.

EtherZero Masternode Setup

MINIMUM REQUIREMENTS

  • Download and install the official wallet
  • The required amount to start Etherzero Masternode is exactly 20.000ETZ and you can easily purchase them from Digifinex or Hotbit
  • Deploy VPS server with an independent static IP address. You can try with Digital Ocean
  • Minimum 16GB RAM and an 8 core CPU is needed
  • 1TB available hard drive space
  • linux
  • wallet
  • etherzero

How to Set Up an EtherZero Masternode Step by Step

  • Choose VPS provider. You can either hire or create one, but it must be with minimum 16GB Ram, 8 cores CPU and 1TB hard drive space. Also, you need to be sure that your internet provider offers static IP addresses
  • Configure your VPS’s OS. You will need Ubuntu 18.04.1 x64 or the latest version available. To connect the VPS to it you must use telnet client, for example, PuTTy
  • Install the official EtherZero wallet because only it supports masternodes
  • Configure your wallet. You need first to supply your wallet with exactly 20 000 ETZ, not more, not less. You can wire the amount from an exchange or another wallet. After you sort that out you need to enter your wallet and configure the masternode from the control panel
  • Start your EtherZero masternode. Access EtherZero Geth and run the masternode directly from the console

Sean Boyle

HARDWARE ENGINEER

For in excess of six years I have been actively using diverse methods to mine various crypto coins. In search of optimal profitability with limited resources I have engaged in using various masternodes to earn rewards in a passive manner..

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