What is a Dash masternode and why is it important?

CryptoGuru Level X³

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December 2, 2016, 12:53 pm

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What is a Dash masternode and why is it important?

I have been talking alot about Dash coin lately and i have been doing alot of research into this crypto. I feel that this crypto could make it to be number 2 crypto when it comes to price and market price. Dash offers many benefits but one i want to talk about is a Dash masternode. I want to explain what a masternode is and why its important to the Dash network. I personally believe when it comes to mass adoption Dash has the best chance at this besides BTC.

What is a masternode? These are servers or computers that run a Dash wallet online 24/7. They are important for many things to happen on the network like Locking transactions, Coordination of mixing of coins and more! Dash masternodes are required to have 1000 Dash coins, and dedicated IP, and they have to be online 24 hours a day in order to get paid. People who run this get paid 10% a year on the 1000 coins they hold.

Why is a masternode important? Well they are important to run the network as i explained in the previous paragraph. For large investors it could be very important for savings getting 10% on 10 nodes is 10,000 a year. Doesn't sound like much rite? If the price of the currency goes up you can sell the excess coins that you make throughout the year as long as you maintain the amount needed for each node.

Here is a further explanation of What this is.

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Lynne

Lynne

Oh man Jkeyz2 this sounds a little complicated for me. I still struggle a bit with understanding cryptocurrency, the mining part of it still does my head in!

Now Dash Masternode? Too much for me, I can see now how fast technology is moving forward and I feel like I'm being left behind a bit here.

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CryptoGuru

CryptoGuru

Well Lynne your not the only one many people are so behind they they are being left. The advantage you have is that you know that its a good investment and that is a start for sure. Watching the markets and making smart investments is the bulk of the work the other part of it is always staying on top of the current news. The topics i post are great but really digging into what people are saying is what is best for any investor. You have a virtual account but that is ok still do the research and make investments and see if you would have made money based on your decision. Technology in the last ten years has come such a long ay its getting scary. In 10 years from now i cant even imagine what we will have going on. It is not as hard as you think once you apply yourself, trust me when i say i am not the smartest person. I think my drive for money makes me to teachable and information absorbent. Please keep following my posts i have more coming in the near future.

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Cristian

Cristian

Whooo. New ideas and new coins are born all the time! Love it! I always thought Bitcoin will be overtaken by a better crypto currency with time, a lot of people have predicted this, saying that there is a probability that Bitcoin won't survive and is actually just the first step into a bigger idea that will be born from all of this.

Dash seems promising and I love the strategy here, you get a fixed rate of 10% no matter how the coin is doing. Of course, you are still going to lose money or gain more cash depending on how the coin is doing, but overall if this becomes the standard, it won't matter much.

0 8 years ago

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CryptoGuru

CryptoGuru

The thing is BTC being replaced is so far fetched its insane. Nobody has the volume not to mention the massive adoption that Bitcoin has. No crypto is accepted as widely as BTC. I think rather than it being replaced i think that another coin may be a runner up kind of like master card and visa or ATT and Verizon. Dash coin is probably one of the better alt currencies out their i think i have about 6 that i follow on a regular basis. Ripple will have a big year in 2017 which means i could be in the money! Thank you for following my post i will have more to come soon!

0 8 years ago

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