In connection with the fall in profits from the mining of digital assets , the popularity of making money on masternodes is growing. This type of activity allows not only to diversify the investment portfolio, but also to receive a stable income. However, the amount of profit differs in the blockchains of different virtual currencies, so the editors of techyadjectives.com have selected the best cryptocurrencies for making money on masternodes.
What is a masternode?
Masternode is a node in the blockchain that performs unique functions (for example, instant transactions, confidential money transfers). Unlike a regular node, a masternode must always be connected to the blockchain , as the functioning of the network depends on it. The masternode plays an important role in the virtual currency blockchain, therefore , an additional remuneration is provided for its work , which is paid by the management of the startup creator of the cryptocurrency .
How to run a masternode?
To run a masternode, you need to buy a certain amount of cryptocurrency and store it in a wallet that you will use in the process. Then you need to download the full blockchain client on your hardware and connect to the digital asset network. For your work, you will be rewarded in virtual currency. Many blockchains have implemented functionality for masternodes, however, the conditions for all projects are different. Therefore, we have compiled a list of the most profitable offers.
The most profitable cryptocurrencies for earning on masternodes.
- The minimum purchase amount of cryptocurrency: 1.000 DASH.
- Income: $55 per day and approximately $20,000 per year (depending on the DASH rate).
- Guide to running a masternode on the DASH blockchain .
DASH is a popular anonymous cryptocurrency that ranks 15th in terms of market capitalization. The DASH startup pioneered the masternode industry and developed a unique reward system. Masternodes on the DASH network process transactions made on the PrivateSend and InstantSend payment services . To run a masternode, you will have to buy $8,300 worth of DASH coins (at the current exchange rate), but for your work you will receive $55 per day and $20,000 per year .
2. Blocknet (BLOCK).
- The minimum purchase amount of cryptocurrency: 5000 BLOCK.
- Income: $45 per day and approximately $16,000 per year (depending on the PIVX rate).
- Guide to running a masternode on the BLOCK blockchain .
Blocknet has been nicknamed the “Internet of Blockchains” due to its unique peer-to-peer consensus protocol that allows data to be transferred from different decentralized networks and to transfer cryptocurrencies from different blockchains. Cross-chain decentralized applications also run on the Blocknet network . Blockchain BLOCK operates on the basis of the proof of stake consensus protocol, so it uses masternodes. To run your node, you need to buy $8,300 worth of cryptocurrency , the masternode will bring $45 per day and an additional $16,000 .
- The minimum purchase amount of cryptocurrency: 1000 Zcoin.
- Income: $19 per day and approximately $7,000 per year (depending on the Zcoin exchange rate).
- A guide to running a masternode on the XZC blockchain.
Zcoin is a decentralized anonymous cryptocurrency . Blockchain Zcoin became the first network in which the ZeroCash cryptographic protocol was implemented , aimed at protecting the personal data of participants in money transfers. The XZC network uses the concept of masternodes called Znodes that process transactions using the ZeroCash protocol. To start working in the Zcoin blockchain, you need to buy coins for $5,600 (at the current rate). As a reward, you will receive $19 per day and $7,000 per year .
- Minimum purchase amount of cryptocurrency: 10.000 PIVX.
- Income: $5 per day and approximately $2,000 per year (depending on the PIVX rate).
- A guide to running a masternode on the PIVX blockchain.
The PIVX digital asset was born as a result of a hard fork of the DASH blockchain . In terms of capitalization, the coin ranks 76th. Unlike the DASH network, the PIVX blockchain implements a proof of stake consensus protocol and a masternode functionality that performs instant transactions, prevents the threat of double spending, and participates in voting. To start working on the PIVX network, you need to buy tokens for $7,900 (at the current exchange rate). The reward is lower than in the DASH network, so the PIVX masternode is less profitable .
The amount of monthly income from the work of the masternode in blockchains (based on 30 days, in $):