Masternode, is the node which store the entire blockchain history and creates the Monolith block to simplify the access to network for the new nodes; nodes, which downloads only the headers of the blocks to verify transactions; and Validator for confirm the transaction after to receive the block but just in the DevNet. By working together in a decentralized manner, nodes ensure that the blockchain operates efficiently and remains tamper-resistant.
Masternode Enhanced Capabilities
Masternodes bring advanced features to the blockchain ecosystem, setting them apart from standard nodes. They can create a daily ‘monolith block’ that acts as a comprehensive ledger, listing all network participants, including nodes and Masternodes. This unique ability enhances the functionality of Masternodes significantly.
Registering a Masternode
Users can register as a Masternode similarly to standard nodes, by installing the necessary software on their device and completing a registration transaction. This transaction involves sending a specified amount to the network to secure their Masternode status.
Activation and Operation
After registration, the Masternode enters a queue until approved by the existing Masternode network. Once active, Masternodes earn rewards based on their staked amount, duration of activity, and performance quality. Rewards are distributed twice daily to those active for at least two weeks, with factors such as token amount, hours processed, and a daily performance score influencing the reward size.
Monolith Block: Network Overview
The monolith block provides a clear, verifiable overview of the network’s structure and participants, crucial for maintaining transparency and accountability. Its daily generation ensures the network’s state is accurately recorded, aiding in review and verification processes.
Impact on Efficiency and Security
The monolith block significantly boosts network efficiency and security. By consolidating network composition data into a single block, Masternodes streamline validation and synchronization for all nodes, enhancing the blockchain’s stability and threat resilience.
Strategic Importance of Masternodes
Masternodes play a key role in the blockchain, beyond transaction facilitation and governance. They safeguard the network’s integrity and historical record, crucial for keeping the blockchain secure, transparent, and well-managed.
Masternode Removal
Masternodes may be removed due to inactivity, self-request, or by other Masternodes for poor performance or malicious activity. Voluntary or inactivity-based removals result in the return of the staked amount. However, if removed for malicious actions, the stake is distributed among all network participants as rewards.