WHAT IS A MASTERNODE?
A Masternode is a server that performs service functions on a blockchain; such as instant send, coin mixing to support privacy, and aids in stabilizing the network. In return, masternodes are paid rewards, dividends in the form of ChainCoin on a periodic basis, for providing important services.
Anyone can run a Masternode and the objective is to have enough online to provide a true level of decentralization, which doesn’t favour a country, geography, company, or person.
Masternodes are created when 1,000 ChainCoin (CHC) are sent to the server’s wallet, a form of Proof of Stake – where Masternodes are considered long-term holders, and thus they receive voting rights on the proposals in the network.
The masternode step-up process does consist of many steps, however, the benefit for properly setting the network is worth the financial and community rewards. YOU, become a real integral part of the community, where each one of up provides importance.
Masternodes are paid 35% of the block reward; blocks are paid out frequently.