Get to Know the Innova Masternode

Innova masternodes are part of the two-layered INN network that is ASIC-resistant. They enable fast and anonymous transactions for users and undergo constant improvements thanks to the active developer community. Distinctive features include Darksend – a coin mixing feature that allows for obfuscation of sender, recipient and the amount of the transaction. Another peculiarity is the Spork integrated system. It allows developers to make various changes to the INN masternode network or simply provide a new version of the software without the need for client restarts. In this article, we’ll cover how to set up an Innova masternode and explore what kind of ROI you can expect.

How to Make Money From INN Masternodes

The Innova masternode payout is comprised of 75% of the block reward for supporting the network. Currently, the masternode reward is 7.92 INN and miners are receiving 2.64 INN of the block reward. As the number of nodes is fluctuating constantly, the block reward varies based on how many are active. Initially, the project started with 9 INN coins set aside as masternode reward and 3 given to the miners for their contribution of handling transactions. These amounts are decreasing by 12% each year and there are no plans for changing this mechanism.

Innova Masternode Setup

MINIMUM REQUIREMENTS

Before we go to the Innova masternode setup guide, here are the minimum requirements you need to meet:

  • Obtain the collateral of 1000 INN and add at least 1 more coin to your wallet to pay for transactions. You can purchase the amount from an exchange such as Cryptopia or Crypto Bridge
  • Install the Official Innova Wallet
  • Ensure you have a reputable VPS provider like Vultr. You’ll need to install Ubuntu 16.04 and have at least 1 CPU, 2GB RAM and 40GB of HDD space
  • Make sure you have a dedicated IP for your server
  • linux
  • wallet
  • innova

How to Set Up an INN Masternode Step by Step

  • Set up your VPS server, matching the minimum requirements listed above and install Linux Ubuntu 16.04
  • Once you’re done with the VPS setup, use PuTTy to log in as “root”
  • Next, you’d have to download and install the official InnovaCoin wallet
  • Add at least 1001 INNs into your wallet as a collateral. It’s important that you have more than 1000 available, because of the fee you’re supposed to pay at the beginning
  • Start the Innova masternode and double check if it’s running correctly

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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