Cryptocurrency has millions of active users around the world and the number of people is constantly growing very fast. The security of a Blockchain backed cryptocurrency resides in the masternode network. Cryptocurrencies are supported by a network of computers each keeping a digital record of the data known as a blockchain. A computer, a phone, or any other computing device that can receive, transmit, and/or contribute to the blockchain can deputize as a node.
Masternodes are an increasingly incessantly discussed subject in blockchain circles these days because nodes are a critical component of a blockchain’s infrastructure. Without nodes, a blockchain’s data would not be accessible. A Masternode is a governing hub of a crypto full node that supports the network by hosting an entire copy of the coin’s ledger in real time, and requires an initial collateral of coins to operate. A masternode may have a managing role to vote on proposals to improve the Blockchain, with each masternode assigned a vote. Masternode’s s also create instant transactions, known as “InstantSend”, and private transactions that hide the fact that you’ve sent money, known as “PrivateSend”.
As a reward of its activities, each of the Masternode will receive coins. It is a great alternative to mining.
Besides the coin rewards that you get from running a Masternode, here are more reasons why you should consider a Masternode:
- It improves the privacy of the transactions.
- It allows the user to take part in important decision making as well as voting.
- It enables the treasury and budgeting system in cryptocurrencies.
- It enables instant blockchain transactions.
While all Masternodes can do the above tasks, performance may slightly vary from one digital asset to the other based on how a Masternode has been implemented in a particular cryptocurrency. The masternode enables you to earn some passive income from participating in network maintenance functions. However, there is no hard-and-fast rule on how much you can earn. Generally, it would depend on the following factors: - Consider the demand of the coin in the market before that of the masternode operators.
- The importance of the coin to cryptosphere.
- The minimum coin stake amount before the operation
- The authentic reward system.
- Probable block reward changes in the future as well as if the tokens can buy products.
IQ CASH
IQ.cash is a universal large-scale blockchain platform for Investors, Traders & Miners. Its main goal is to provide instant anonymous online payments and investing.
IQ.cash team has developed and created Masternode network IQ for investors. Also miners get 43% from the block. The remaining 6% reserved for DAO is used to invest in different trading projects like software, web sites, algorithmic trading systems, trading bots, startups, improvement of IQ.cash ecosystem and more.
Thus IQ.cash would become a leading player in the crypto industry for traders and hold maximum efficiency and privacy payments among the largest financial companies.
Features of IQ Cash
Anonymity
Anonymity of transactions in the system is provided by the PrivateSend algorithm. Users can trust the system completely.
They don’t have to worry about third-party access to data, as the system securely encrypts data when transferring and receiving assets.
Longevity
The coin developer is a large multinational company Finexpo with more than 18 years of history.
Decentralization
IQ.cash network implies the inability of creating sites that have a dominant influence on the other members of the network.
Limited Circulation
Influence on coins is also excluded as their release is limited, and additional emission is not provided.
Transactions speed
High speed transactions ensured by the instantaneous exchange of data (InstantSend) across the network. The transaction time is about 5 seconds.
ASIC resistance
IQ.cash network uses NeoScrypt algorithm to solve this problem of significant acceleration of network complexity growth when using ASIC (in comparison with CPU usage).
Security
Cryptocurrency now has millions of active users in the world and number continues growing rapidly! This comes with the attendant risk of security breaches and hacks. With IQ Cash security algorithm, the user’s account can not be stolen, and the funds can not be accessed by anyone but its owner.
IQ CASH MASTERNODE HOSTING
To run the IQ Cash masternode is not rocket science. This would aid install masternode with your wallet in the desktop, running Linux VPS, and also on mobile, which is a strong relief. The former could be Windows, Mac or Linux systems.
A virtual private server (VPS) is a virtual machine sold as a service by an Internet hosting service. The virtual dedicated server (VDS) also has a similar meaning.
A VPS runs its own copy of an operating system (OS), and customers may have superuser-level access to that operating system instance, so they can install almost any software that runs on that OS. For many purposes they are functionally equivalent to a dedicated physical server, and being software-defined, are able to be much more easily created and configured. They are priced much lower than an equivalent physical server. However, as they share the underlying physical hardware with other VPSes, performance may be lower, depending on the workload of any other executing virtual machines.
IQ CASH masternode requirements:
3000 IQ on balance;
A dedicated IP-address;
availability of uninterrupted operation of the system 24/7 (network loss must not exceed 30-60min).
DESKTOP MASTERNODE
Download the wallet from releases for your desktop. Make sure it is the latest version of app. Windows, Linux and Mac versions are all available.
Acquire 3001 IQ
You can quickly purchase 3001 IQ from these exchanges.
The extra 1IQ is for transaction fee. To make complete the transaction:
i) Go to File -> Receiving Addresses
ii) Click on "New" and give label name, something like "my_x_masternode" and click "Ok".
iii) Right click the created address and chose "copy".
iv) On your main window go to "Send" tab. Paste the copied address to address box. Type 3000 for "Amount" box. Please do not click "Subtract fee from amount" checkbox. Send the IQ Cash.
Now it will take some time until this transaction is confirmed (minimum 15 confirmations).
Install the Masternode
Login to your VPS server under any user with root or sudo privileges.
You can use Putty or WinSCP for connection
VPS providers:
https://www.ovh.ie/
https://www.aruba.it
https://aws.amazon.com
3.2 Run the installing script file
curl -sL https://raw.githubusercontent.com/IQ-Cash/mn_install/master/iqcash_mn_install.sh | sudo -E bash -
Note: Now it will take some time. Wait until the following is printed to the console: "Masternode installed!". It will also print masternode key and masternode.conf string. Save it somewhere, you will use that later. For example:
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Broadcast the Masternode
4.1 Let's see if your 3000 IQ transaction to yourself has been confirmed (minimum 15 confirmations).
4.2 On your desktop wallet, go to Tools->Debug Console. In text box below run the following command
masternode outputs
It should print something like this:
{
"256842fn36e2cba66ab277fc9e3c51d2df1ed35e79442a3d01fbf8ee67ko76aw": "1
}
For example:
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This is the transaction that would be used to keep masternode aknowledged by IQ network. Long part - is a transaction id. Short number - is a transaction index. Copy them too, you will use them shortly.
Note: Keep those two values without quotes (").
4.3 Go to Tools -> Masternode configuration file.It will open your masternode.config file. It's needed for starting and tracking your masternode remotely.
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4.4 Paste here prepared masternode.conf string that we've received on step 3.2.
4.5 Replace INPUTTX with long transaction id, and INPUTINDEX with short transaction index that we've kept on 4.2. Click "Save" and close this config.
Example:
mn1 127.0.0.2:14014 93HaYBVUCYjEMeeH1Y4sBGLALQZE1Yc1K64xiqgX37tGBDQL8Xg 2bcd3c84c84f87eaa86e4e56834c92927a07f9e18718810b92e0d0324456a67c 0
4.6 Go to Settings -> Options -> Wallet and enable "Show Masternodes Tab".
4.7 Restart the wallet.
4.8 Important!
Wait for wallet to complete syncing. There must be no "out of sync" or "synchronizing masternodes" messages. It could take a couple of minutes.
Only then follow 4.9.
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4.9 Go to "Masternodes" tab. You should see your masternode. Select it and run "Start alias"
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Congrats! You've broadcasted your masternode to the IQCASH network.
Now it would go into state PRE_ENABLED, and after some time become ENABLED.
If so, you are all set. Your masternode will start getting rewards in about few hours.
If after 40min your masternode wouldn't become ENABLED, try doing 4.9 again and wait until it goes ENABLED. If this wouldn't help, feel free to ask our support for some advice.
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MOBILE MASTERNODE
Of course, the above process can be daunting for some tech newbies who are yet to wet their feet or cut their tooth on messing around with some nerdy Linux codes, never mind the masternode turf. So Flit, a mobile masternode running comes to the rescue.
Masternode setup on Flit
Download and Install Flit
Download the app from these links.
Install it.
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Create a new wallet
Export Wallet
Export and save paper wallet, then click on continue
Verify
Enter words from paper wallet and click Verify
Use Flits
Hit Start using Flits. That's it!
Hit New
Hit the New wallet button
Get in
Find IQ.Cash
Copy Wallet Address
Copy IQ.Cash wallet address
Locate the Personal Tab
Go to the Personal tab
Copy the FLS Address
Go to the Fee & payments tab, copy your FLS address
Purchase Purchase Purchase
Purchase the required number of Masternodes
Deploy
Once the coins are credited in your account, log into application, open Nodes tab and click Deploy
Chose IQ. Cash
Once again, Chose IQ.Cash
Select And Confirm
Select the number of Masternodes according to the package you have paid for. Confirm your actions.
Start Masternode
Go to the Nodes list and Start node.
That's all. You now are a proud masternode host!
IQ.cash Specs
Algorithm: PoW, NeoScrypt (ASIC resistance)
Block time: 120 seconds
Reward per block 2018 year: 23,5 IQ +1,5 IQ superblock (24924 IQ - is a monthly reserved for DAO system)
Block Reward Distribution: 57% to Masternodes, 43% to Miners and both fetched from (Reward-6%) formula, where 6% is reserved for DAO system
Block reward get sliced by 12% each year
Max coins: 56 900 000 IQ
Premine: 7 400 000 IQ (FINEXPO Depositary Fund)
Mining out in: 25 years
Difficulty adjustment: each block (Dark Gravity Wave v3) - starts with 1000 block height
Required coins for masternode: 3 000 IQ
Masternode reward starts with 1000 block height
Privacy: Transactions Obfuscation (PrivateSend)
Fast payments: through InstantSend (InstantSend confirmation: ~5 seconds)
P2P port: 14014/tcp
RPC port: 13013/tcp
IQ CASH ROADMAP
2018 IQ.Cash was created
Listing on Cryptopia, CryptoBridge
Developed native application for Mac, Linux and Windows
2019
Listing on Crex24
Payment acceptance for TradersFair and CryptoExpo exhibition services
Promotion for events
2020
Listing on HitBTC, BitForex, Bithumb Global, Consbit, Mercatox, P2PB2B
Cooperation with StakeOfStake, Flits, Gentarioum, zCore
Created a mobile wallet for Android / iOS
2020
June-July opening a crypto game service and distributing the income from it to all IQ MN
Plans:
Listing on KuCoin, BitFinex, Bitrex, Exmo, Indodax, BitBay, Gate.io, BINANCE
Development of a mobile application for creating masternodes and IQ payments
Integration of payments in vf.sg, TradersFair, Millionaire Club, Millonaire Bazaar and Masters.Money.
IQ.CASH.ME
Oh… This is just in. A kind of newsflash.
Introducing Iq.Cash.me
From June-August, IQ Cash is opening a crypto game service and distributing the income from it to all masternode hosts. All income in ETH and TRON coins! https://t.co/KX1MQkxmTN - The First game: CoinFlip with proven honesty. Simple and completely transparent smart contract game!
#iqcash #cryptocurrency #dash https://t.co/B2VmI3DkNW
IQ.CASH RESOURCES
About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain connoisseur
Altcoinstalk Username: Jaephoenix
Altcoinstalk Profile: https://www.altcoinstalks.com/index.php?action=profile;area=summary;u=11461