Masternodes

[camohitmishra]

What about masternode by sent the adzcoin that been bought to burnt address?.

ADZcoin sent to burnt address gets converted into Ad Credits. It has no relation to Masternodes.

[HACKUMARA]

i think we need more info about master node be cos most of us dont have technical to do this setup

[HACKUMARA]

if wee go-into master node means we need to go for hardfrok or no

[ahsanulkhan]

i think we need more info about master node be cos most of us dont have technical to do this setup

I can help make a guide! and here how masternodes work:
just replace dash with adzcoin in some parts











One of the most exciting features of DASH in my personal opinion is the function called InstantSend. InstantSend will do exactly what it sounds like, it will enable you to send DASH instantly to another peer.

Before we break down the process of how instantsend works in the network one note is that this technology will enable digital cash into the real world in a real effective way. It will make merchants being able to recieve payments instantly by a customer, making DASH one of the first entries into the "real life" world and not just the digital one. But okay enough text, give us a graphic of how the process works... please?

Okay so this is what your looking at

• 1 Miner finds a DASH block
• 2 Same miner gets a "winning" hash appointed.
• 3 The same hash will then select 1 out of 10 random masternodes in the network to then delegate that masternode to be an InstantSend Authority.
• 4 The masternodes delegated InstantSend authority will then monitor the network for instantsend transactions, grab them and lock them up in the network as pending transactions.
• 5 The InstantSend authority will then broadcast this message to the other masternodes in the network, preventing a double-spend dilemma.
• All these steps are done under 1 second, in effect creating an trustless and instantaneous payment solution.
• Source: https://steemit.com/cryptocurrency/@...send-explained

Here how many tsp instasend can support:

Assuming

• 1 InstantSend tx takes about 1 second
• a Masternode quorum consists of 10 Masternodes security reasons
• a Masternode can't participate in more than one quorum at the same time security reasons
• the amount of Masternodes is 4500 in dash when this calculations were made

we'd have a naively calculated tx capacity of 450tps masternodes do alone. Source: https://www.reddit.com/r/dashpay/com...rj&sh=9044cfee

Hence why More masternodes= faster tps. Hence why i say to keep node locking at 1000-2000 adzcoin so we can have more masternodes so instasend can handle more

*InstantSend Transactions take up the same amount of space as a regular transaction

This happens kinda onchain but masternode confirm not miners in instasend.


However Instant send is/may not cheap. You pay a special, higher fee for InstantSend transactions that is preset by the network and can't be changed by you, so it can never be "too low".In fact current fee is 0.001 Dash per input however it dependent on developer code input lock and can lowered. So adzbuzz will have to order the fee to be set really low or....



Remember masternodes are getting paid so they can afford block size increases so with masternodes the block size can be 10 mb every 1 minute on main miner chain. Bitcoin can confirm about 5 transactions a second with a 10 minute block and 1 mb. (nodes don't get paid hence the problem of block increase).

Adzcoin right now assuming 1mb block(idk can't find any info on it but min block usually have 1mb) and 1 minute target block time. Meaning in theory 50 transactions a second on miner chain. But with masternodes getting paid, adzcoin can now have 10 mb per block(in fact dash is willing to go to 1 gb block bc nodes are getting paid for their work) Thus in theory adzcoin with 10mb blocks with 1 minute block time can reach up to 500tps on chain.


So in my short lesson lets repeat. Masternodes alone can confirm transactions. With about 4,500 masternodes, adzcoin’s masternode can do 450 tps alone. Plus bc of incentive the nodes can run bigger blocks and with just 10 mb blocks up to 500 tps can be done on the main miner side.



Instasend is onchain transactions. Masternodes do not directly speed up transaction for it takes about 5000 nodes for 450tps on their side. The main weapon of masternodes is that now the coin can afford to have bigger blocks so in theory 1tb blocks can be added one day and since nodes get paid by fees and block rewards they will be able to afford it. 1tb= 6 million transactions a second



However, the Lightning network is offchain and can do to millions to billions tps second all with taking the same size as one bitcoin transactions, useful for free nodes. It is not recommend to add segwit to masternodes for masternodes are for onchain scaling use not for LN and other reasons. Here a basic explanation of LN:

LN is for free node networks.

[HACKUMARA]

Wich vps is the best iam so glade adzcoin starting master node

[camohitmishra]

Wich vps is the best iam so glade adzcoin starting master node

Its just an ideas at the moment which we are exploring. We have not officially announced it yet. We'll do once we are certain of few things.

[ahsanulkhan]

Wich vps is the best iam so glade adzcoin starting master node

almost any but it would be good if we could use a vps that adzbuzz earns form. by ref link or by adzbuzz hosting site.

[Tarithel]

I wouldn't be so sure about this. Different providers may have different services available and not all of them necessarily have suitable options to run a masternode (i.e. some providers may only offer web-services like wordpress or whatever). You will just need to do some research and find the best option for yourself.

[Tarithel]

I am also just learning about this concept, but seems promising. The 10k coins that are required are locked forever, or can be withdrawn any time? Can I opt in - opt out anytime I want?

If masternodes get implemented like it is with DASH (for example):
1) You rent a VPS (Virtual Private Server) on some suitable VPS hosting service (that costs like 10 USD / month, give or take a couple of bucks).
2) You install ADZcoin Wallet (which includes the masternode option) on that VPS.
3) You put 10k ADZcoin (or whatever the required amount will be) into that wallet.
4) You sit back and enjoy the ADZcoins that you will earn by doing absolutely nothing.

And if at any time you decide that you want to sell your ADZcoins contained in that VPS wallet, you can send them to any exchange and sell them, no problem. You can sell all the coins above the amount required to run a masternode and still keep earning from the masternode. However if you remove too many coins from the masternode wallet (i.e. if the balance of that wallet drops below the amount required to run the masternode) you will no longer earn any ADZcoins from that masternode (until the balance once again satisfies the requirement to run a masternode).

I hope this helps.

[Matt_Rocass]

Very helpful, thanks!

[HACKUMARA]

best way is adzbuzz hosting can make package for master-node and setup for us then as investor we can go with that win win for both side

[JensSteyaert]

That's indeed something we are thinking about. But we'll look into this deeper when everything is set up and this becomes an option.

[Tarithel]

best way is adzbuzz hosting can make package for master-node and setup for us then as investor we can go with that win win for both side

I have also been thinking about this option. It would be nice if we could set up masternodes hosted by ADZbuzz, but as I understand it, currently the ADZbuzz hosting is outsourced and not done by ADZbuzz themselves.

[HACKUMARA]

I have also been thinking about this option. It would be nice if we could set up masternodes hosted by ADZbuzz, but as I understand it, currently the ADZbuzz hosting is outsourced and not done by ADZbuzz themselves.

i think we need to find more info about this my friend runing dash master-node with tunnel-bear vps for 10$ a month with out any issues

[JensSteyaert]

If masternodes get implemented like it is with DASH (for example):
1) You rent a VPS (Virtual Private Server) on some suitable VPS hosting service (that costs like 10 USD / month, give or take a couple of bucks).
2) You install ADZcoin Wallet (which includes the masternode option) on that VPS.
3) You put 10k ADZcoin (or whatever the required amount will be) into that wallet.
4) You sit back and enjoy the ADZcoins that you will earn by doing absolutely nothing.

And if at any time you decide that you want to sell your ADZcoins contained in that VPS wallet, you can send them to any exchange and sell them, no problem. You can sell all the coins above the amount required to run a masternode and still keep earning from the masternode. However if you remove too many coins from the masternode wallet (i.e. if the balance of that wallet drops below the amount required to run the masternode) you will no longer earn any ADZcoins from that masternode (until the balance once again satisfies the requirement to run a masternode).

I hope this helps.

That's indeed a good overview.

I would also like to add that each masternode gets a vote on important decisions. Everybody basically is able to post suggestions to improve the project. This can range from promotions to payments of developers to allowing the core team to visit blockchain events to gain knowledge (in the future). All masternodes can choose which proposal they want to see happen.

[Tarithel]

Yeah, that's a good addition to my post, thanks

[Praju123]

JensSteyaert camohitmishra To run masternodes do we need to keep Laptop/PC running 24/7?

[camohitmishra]

JensSteyaert camohitmishra To run masternodes do we need to keep Laptop/PC running 24/7?

HI, you host masternode with hosting service provider for which you pay monthly fee. Your laptop or PC is not required for this

[Praju123]

Thanx for the info.....

[HACKUMARA]

JensSteyaert any update of adzmasternode