Get to Know the Slate Masternode
Slate is a blockchain-based project, focused on delivering high-quality entertainment with easy access across the board. To facilitate this process, we have Slate masternodes. Not only do they enable the quick and issueless transfer of data, they also allow the use and verification of SLATIX – a tokenized ticketing system which provides fair and transparent compensation of creators, producers and distributors of media. The use of blockchain technology allows Slate to deliver video on demand in a safe, decentralized and unrestricted manner. In this article, you’ll learn how to setup a Slate masternode and become part of this media-consumption revolution. Furthermore, we’ll explore what kind of masternode payout you can expect and how to get started.
How to Make Money From SLX Masternodes
As a masternode, Slate provides powerful resources through a VPS by collateralizing a stake. This way it supports the infrastructure for the DCDN. The masternode payout is in SLX tokens, as a merit for the processing power and bandwidth they are providing to deliver premium content to the consumer.
As mentioned earlier, masternodes are the second layer of the Slate network. They allow it to function as an extremely effective video distribution platform. The hosting and delivery are powered by rewards, critical to the success of the Binge platform. The reward rate is dynamic and therefore it can be set by SEG for ensuring profits to the SLX masternode owners. What is more, once the network reaches adequate maturity its voting system comes in line. This way every new idea will be put to a vote and will be a result of everybody’s involvement.
Slate Masternode Setup
MINIMUM REQUIREMENTS
For a single Slate masternode setup, you need:
- 350,000 SLX – no more, no less
- Slate can be bought only from HitBTC
- Download the official Slate wallet
- Provide 50 GB allocated storage
- You’ll need network bandwidth of 1 TB per month
- Recommended uptime is 99.99%
- linux
- wallet
- slate
How to Set Up a SLX Masternode Step by Step
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Set up a VPS on your own or rent one from Digital Ocean, make sure you have a static IP address
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Installing an OS on your VPS is the next step. Once that’s done, use an open-source SSH software like PuTTy to connect to it
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You can host a Slate masternode only with the official wallet. Always download and install the latest official version
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When installed, send the required 350,000 SLX to your masternode address. This way the configuration options will be enabled
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Now is the time to start the SLX masternode and check if everything is working and syncing properly. Do that from the Slate core wallet (Debug window/Console)