In general, a Masternode is a crypto full node (computer wallet) that supports the network by hosting an entire copy of the coin’s ledger in real time. In return, the Masternode will receive crypto coins as a reward. It is a great alternative to mining.
For Stakenet specifically, the XSN Masternodes are the decentralized backbone that provide services for entire network. Stakenet's idea is to turn Masternodes into a business for the individuals who own and run them. As standard, all Masternodes are eligible for 45% (currently 9 XSN) of the block rewards. Owners will be able to select what services they wish to provide and in return will earn additional revenue from those services.
Besides the coin rewards, you also get the following features:
The Stakenet team is currently also developing new features and services to get the most of the XSN Masternodes:
Anyone can set up and run a Masternode, and there are various methods to do so to suit everyone's level of technical expertise.
You will need the following no matter which route you decide to take:
The most comfortable option which requires a registration on the XSN Cloud.
This option is using a trustless Masternode hosting service. Stakenet will set up, maintain and update your XSN Masternode for you. If there are any issues with your Masternode that require your attention then you will be emailed automatically to let you know. With this service, you always remain in full control of your XSN collateral from the XSN Core Wallet. Stakenet is working with all of the top VPS providers to ensure your Masternode is running on high quality and stable hardware to provide maximum uptime. Currently, there are over 1350 Masternodes running via the service.
Check out the official article: https://medium.com/stakenet/masternodes-as-a-service-the-stakenet
Check out the video guide to setup a XSN Masternode-as-a-Service:
With this option you have the freedom to pick any VPS on your own but also have to install and maintain the wallets by yourself. The following article and video tutorial will guide you step by step through the process of:
Check out the official article: https://medium.com/stakenet/xsn-masternode-setup-guide
Check out the video guide to setup a XSN Masternode Setup Guide: