Get to Know the PACcoin Masternode
The PACcoin network relies on its community to drive the project to its absolute success and all that is achieved thanks to the two-tier incentivized system also called masternode network. The main goal of PACcoin is to be the most user-friendly and efficient cryptocurrency worldwide. The network is decentralized, and the community actively participates in the development process.
The PACcoin masternode system exists to support the network and provide the unique incentives for those willing to invest. Investors are the people with the highest income and great responsibilities. Apart from the monetary incentive, hosting a masternode gives you the right to vote for changes in the network and dictate future development. Thanks to the availability of such nodes and the Private$Pac feature, you as a user are able to perform fast and secure transactions without revealing any personal data. On top of that, each transaction takes milliseconds if you use Instant$PAC. Further in the article, you’ll learn what kind of PAC masternode payouts you can expect, what the average ROI is and how to setup your own.
How to Make Money Фrom PAC Masternodes
As a PACcoin masternode operator you get many benefits and privileges but of course, the most important question is “how much I will get?”. The reward is equal to 75% of each new block, while the other 25% are split: 15% for marketing, 5% for miners and 5% for charity. The truth is that hosting such a node is a long-term investment with constantly increasing income.
Calculating your masternode reward is as easy as using the formula “((N/T)*R*B*A*365/500,000)”, where:
N – the amount of masternodes you own
T – the total number of masternodes on the network
R – the current block reward
B – the number of blocks per day, on average
A – the average masternode payment
PACcoin Masternode Setup
MINIMUM REQUIREMENTS
Here are the minimum requirements in order to run a PAC masternode:
- Purchase the collateral of 500,000 coins from Crypto Bridge or Coinexchange
- Download and install the official PAC wallet
- Rent VPS, the most common and known service provider is Vultr
- Ensure that your internet provider offers dedicated/static IP address
- linux
- wallet
- paccoin
How to Set Up a PAC Masternode Step by Step
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Firstly, acquire a VPS. You can either rent one, or simply host the masternode on your dedicated PC, but you will need at least 1GB RAM and 20GB free hard drive space.
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Establish connection with your VPS. It’s easy, you need to download SSH software like Putty (Windows) or terminal.app (MAC) and log in as root.
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Install the official wallet. Download and install the wallet on both VPS and your main machine. Wait a bit for them to synchronize and create a new address in your wallet.
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Send the required amount to your wallet’s address. You need to send exactly 500,000 coins, not more not less. Right after, access the masternode.conf file and configure it.
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Run your PACcoin masternode. Start the wallet and double check that its properly connected to the VPS.