A masternode in cryptocurrency(also known as a bonded validator systems) is a server that underpins a blockchain's network. They are responsible for enabling specific services that miners under proof of work cannot accomplish.
Masternodes rely on staking a certain amount of a given currency within the currency's network. To establish it, you will need to buy a substantial amount of the currency in question.
Masternodes has a lot of benefits. Here are just two of it.
It protects block chain from network attacks in the same vein as traditional proof of stake algorithms.
The cost of operation also keeps operators honest. Unlike the bitcoin miners who may switch from one chain on its blockchain to the next based on profitability.
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