{"id":6639,"date":"2019-07-26T11:21:29","date_gmt":"2019-07-26T11:21:29","guid":{"rendered":"https:\/\/qa-front.dev.techhub.cloud\/blog\/?page_id=882"},"modified":"2024-04-18T10:15:41","modified_gmt":"2024-04-18T10:15:41","slug":"what-are-masternodes","status":"publish","type":"glossary","link":"https:\/\/paybis.com\/blog\/glossary\/what-are-masternodes\/","title":{"rendered":"Masternodes"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">You\u2019ve heard about them, and they usually are more expensive compared to traditional mining. But what are masternodes?<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are masternodes<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A Masternode is a cryptocurrency node (computer) that has chosen to support a <a href=\"https:\/\/paybis.com\/blog\/glossary\/what-is-blockchain\/\">blockchain<\/a> network by hosting a complete copy of a coin&#8217;s ledger.<\/span><\/p>\n<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-6639-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2019\/10\/24-What-are-Masternodes-and-how-are-they-different-from-mining.mp3?_=1\" \/><a href=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2019\/10\/24-What-are-Masternodes-and-how-are-they-different-from-mining.mp3\">https:\/\/paybis.com\/blog\/wp-content\/uploads\/2019\/10\/24-What-are-Masternodes-and-how-are-they-different-from-mining.mp3<\/a><\/audio>\n<h2><span style=\"font-weight: 400;\">Why you should run a masternode?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It would be good to first introduce yourself to the concept of <a href=\"https:\/\/paybis.com\/blog\/glossary\/what-is-pos\/\">POS<\/a> and <a href=\"https:\/\/paybis.com\/blog\/glossary\/what-is-pow\/\">POW<\/a> coins to understand the main differences between mining and running a masternode.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having said that, here are the reasons you should consider when thinking about running a masternode:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You earn passive income<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Transactions have increased privacy<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">All transactions are instant<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It enables a user (node) to participate in governance as well as voting<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It enables cryptocurrency systems related to treasury and budgeting<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">And, while all Masternodes can perform the tasks shown above, the quality of implementation may slightly differ from case to case. This is based on the way with which the Masternode has been implemented in a certain cryptocurrency.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Which cryptocurrencies run masternodes?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Currently, numerous projects have deployed Masternodes within their networks. They include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Dash (DASH)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Bata (BTA)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Crown (CRW)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">ChainCoin (CHC)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Vcash (XVC)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">ION (ION)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">PIVX (PIVX)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Monetary Unit (MUE)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">XtraBytes (XBY)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Diamond (DMD)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>A Masternode is a cryptocurrency node (computer) that has chosen to support a blockchain network by hosting a complete copy of a coin&#8217;s ledger.<\/p>\n","protected":false},"featured_media":0,"template":"","glossary_letter":[275],"glossary_term":[277,279],"class_list":["post-6639","glossary","type-glossary","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are Masternodes and how are they different from mining? - Paybis Blog<\/title>\n<meta name=\"description\" content=\"What are masternodes? 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