Get to Know the Giant Masternode

As a popular network, combining the trio of digital coins, masternodes and smart contracts, Giant’s main value is considered to be transparency. Aiming to become a currency for mass adoption, Giant has also built a masternodes network to support its goals. Masternode operators are validating transactions in return of 80% reward. They also receive the ability to create smart contracts and participate in voting processes with one vote per masternode. Keep reading to learn how to set up a Giant masternode on your own and what payout you can expect.

How to Make Money From GIC Masternodes

The current award is fixed to be 20 GICs per block until the mid of 2019. As mentioned earlier 80% of it or 16 GICs in total are dedicated as Giant masternode rewards and the other 20% (4 GICs) are going to stakers. In the following year, the reward is going to dramatically drop with 50% but the split 80-20 will stay the same. The reason why is to simply accumulate lots of operators during the first years of the project by ensuring a relatively high speed of its transactions. So, next year for example, masternodes will receive 8 GICs and stakers – 2 GICs. If you’re now getting 4.5 GICs per day in average, due to the rewarding every 3-4 days, this amounts to a Giant masternode ROI of 1640 GICs on average per year. If you’re interested to know how it sounds as a fiat currency income – this is around 420$ per year with the current rate of the US dollar.

Giant Masternode Setup

MINIMUM REQUIREMENTS

Here are the minimum requirements you need to cover in order to run a Giant masternode:

  • Buy 1,000 GIC from an exchange like Crypto Bridge or Graviex
  • Install the Giant Core Wallet
  • Look for reputable VPS provider like Vultr
  • Check on your IP’s status – should be showing static, instead of dynamic
  • linux
  • wallet
  • gic

How to Set Up a GIC Masternode Step by Step

  • Choose a VPS covering the specific criteria of 512 MB RAM and 1GB HDD.
  • Use the Putty software to connect to your VPS.
  • Install yourself the official Giant client to run your GIC masternode.
  • Add 1000 GICs to your address and unlock the masternode capabilities.
  • Run the Giant masternode and check if it’s accordingly showing the working process on both your PC and VPS.

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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