Mar 14, 2019 06:32 UTC
Mar 14, 2019 at 06:41 UTC
WolfCoin Blockchain – Extending Secure and Reliable Masternode
The extensive domain of cryptocurrency offers multiple opportunities to make a significant profit. Running Masternode is one of the many ways that help users earn rewards within the crypto-sphere.
What is Masternode?
Masternode is basically a cryptocurrency full node or computer wallet that keeps the entire copy of the blockchain up and running round the clock. It is highly profitable for crypto investors as they are incentivized when they run a masternode. The process is similar to earning weekly or monthly interest on the crypto holding.
Challenges of Running Masternode
There are myriad of masternode projects within the cryptocurrency landscape, However, a majority of them fails to offer real value to the investors, thereby impacting its efficiency. Presently, there are only a few masternode communities accessible to investors. This is primarily because only limited projects have an effective product that offers liquidity and value of their respective coins in the market. Since there are only a handful of projects available, the investment process some at a high process, making the process inaccessible for average cryptocurrency enthusiasts because of the nature of how block rewards are given to masternode owners. Additionally, cryptocurrency halvings that reduce block rewards with the passage of time further make the collection of the collateral coins quite expensive. Presently investors are looking to invest in a masternode project that has a real use case upholding its native coin.
Wolfcoin Blockchain – The Need of the Hour
While running a masternode, the lack of security is one of the biggest concerns of the investors. The Wolfcoin Blockchain extends users its masternode system that is reinforced by X11 Proof-of-Work (PoW) protocol, verifying all the transactions within its blockchain network. The use of highly secure X11 PoW algorithm ensures investors of the security. It uses 11 various hash functions in computing calculations on the network. In order to further strengthen the security of the network, the network is fully managed by the masternodes, mitigating the chances of security attacks by the miners. Additionally, masternodes also allow for Instant Send Transactions that simplifies the complexities of transactions, enabling faster transaction processing. They also execute private transactions for users who wish to stay anonymous.
The benefit of Using X11 Hash Algorithm
The growing complexities of the chained algorithm offer more effective security as compared to the single-hash PoW. In the event of any intrusion, a digital currency using X11 PoW would continue to function efficienctly unless all 11 hashes are attacked simultaneously. Even in that case, the users will be warned to take the right measures and replace the problematic hashes in a timely manner. Moreover, X11 algorithms can offer better reliability that single-hash algorithms fail to offer.
Requirements for Running a Masternode
Following are the specifications that users must adhere in order to run a masternode:-
- 10,000 WOLF
- A computer or VPS operating on Windows/Linux
- A dedicated IP address
Along with 10,000 Wolfcoin, users also need to have minimum hardware requirements including:-
|CPU||1×1 GHz||1×2 GHz|
|RAM||1 GB||2 GB|
|Disk||8 GB||16 GB|
Typically, masternode bandwidth uses 300-500 GB per month and will expand with the expansion in the network.
Wolfcoin Blockchain – Secure Way of Running a Masternode
Wolfcoin together with X11 Hashing algorithm eliminates the impediments of running a masternodes. It offers equal opportunities to the miner as well as masternodes to earn substantial returns. Miners receive rewards for ensuring blockchain security; masternodes, on the other hand, are rewarded for facilitating network features including Private Send and Instant Send.
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