Get to Know the Wagerr Masternode
Wagerr is a revolutionary coin that brings decentralized bookkeeping in the world of sports. It allows for trustless betting on a sporting event, by establishing oracle masternodes which feed real-world data into the network’s blockchain and allow for the execution of smart contracts. Wagerr masternodes don’t only provide the data, but they also serve as consensus agents, verifying transactions and establishing governance. Employing the principles of decentralization as a basis for development, it’s possible to avoid corruption and forging of data, thus reducing the risk for all participants in the process.
How to Make Money from Wagerr Masternodes
For their services, Wagerr masternode operators are handsomely rewarded. Not only do they collect 50% of betting fees, but they also win part of the fixed block reward. As it is prestigious to become one, there is a waiting line. Masternode operators are promoted on a first come, first serve basis to validate transactions and receive the appropriate rewards. Due to the popularity and to keep things in check, there’s currently a limit of 2500 masternodes in the network. In future, this number may change, depending on consensus.
The rotation occurs every hour, thus keeping nodes synchronized and allowing for quick payouts. If some transaction’s conditions do not match the pre-defined smart contract parameters, coins are refunded if no solution is found within 48 hours.
Wagerr Masternode Setup
MINIMUM REQUIREMENTS
To establish a Wagerr masternode, you will need the following:
- At least 25,000 WGR coins, buyable at Crex24 and Yobit
- The official wallet downloaded from the coin’s website
- A VPS with a static address and enough bandwidth for API calls, I suggest using DigitalOcean
- 1 Core CPU is enough, alongside 1GB of RAM
- 40GB of disk space free
- linux
- wallet
- wagerr
How to Set Up a Wagerr Masternode Step by Step
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To get started, choose your VPS provider. For first timers, I’ve recommended one in the requirements list above. Make sure you have a static IP.
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Install the Operating System of choice and connect to your server. I recommend using PuTTy as it’s open source and free.
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Install the official coin wallet as it’s the only way to establish a masternode.
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Next up, send 25,000 WGR coins to the masternode address. Make sure it’s exactly that amount, otherwise you won’t be detected as a masternode on the network.
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Launch your masternode and check its status. You can do so using the debug window/console.