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Topic: Warrants Further Discussion: The Masternode Revolution (Read 107 times)
So, I would just like to explore the topic further. Clearly Dash is to masternodes and Bitcoin is to cryptocurrency. A comparison in time could also be made at Ethereum. That is, if Ethereum was 'the' cryptocurrency mover of 2017 (ICOs, smart contracts, games, etc) then Masternodes stand to be the story of 2018.
So to discuss it I would like to consider, among other things:
1. Why masternodes draw such interest
2. Other relative comparators (i.e. bitcoin, ethereum, litecoin, atomic transaction, security, governance etc)
I'll start off by saying I think MN draw interest because of the appeal of POS but with a better structure. With POS it was cool but sometimes there were these really lame qualifiers such as having to have a wallet open in order to stake. And then who knows how much you would get depending on whatever your balance or luck was. Sure, it all worked out okay but with MN you don't have to have a wallet open. Most people do a VPS or pay a margin on VPS/MN provider services for the MN. I think this is really cool because it expands the business aspect of crypto. We are creating jobs in some cases. I know I pay a small fee for VPS services and it makes me feel good about generating such business revenues and I tend to think about the thousands of other people doing the same thing. Of course, some folks are super cool and run their own home server VPS.
So the gist of "why" to me comes down to a more defined structure which reassures people of the validity. Of course there is a more defined governance capability as well... maybe someone else can comment to that better.
On security, maybe someone can break this down for me: How dangerous or risky is it to keep private MN keys in plain text files? It seems like this is pretty standard even with Dash as far as I know... but what are the security hazards? I assume we are safe as long as we implement other security such as wallet encryption, hdd/ssd encryption, host-base security, etc. Am I on the right track?
Thx all for any discussion.
So to discuss it I would like to consider, among other things:
1. Why masternodes draw such interest
2. Other relative comparators (i.e. bitcoin, ethereum, litecoin, atomic transaction, security
I'll start off by saying I think MN draw interest because of the appeal of POS but with a better structure. With POS it was cool but sometimes there were these really lame qualifiers such as having to have a wallet open in order to stake. And then who knows how much you would get depending on whatever your balance or luck was. Sure, it all worked out okay but with MN you don't have to have a wallet open. Most people do a VPS or pay a margin on VPS/MN provider services for the MN. I think this is really cool because it expands the business aspect of crypto. We are creating jobs in some cases. I know I pay a small fee for VPS services and it makes me feel good about generating such business revenues and I tend to think about the thousands of other people doing the same thing. Of course, some folks are super cool and run their own home server VPS.
So the gist of "why" to me comes down to a more defined structure which reassures people of the validity. Of course there is a more defined governance capability as well... maybe someone else can comment to that better.
On security, maybe someone can break this down for me: How dangerous or risky is it to keep private MN keys in plain text files? It seems like this is pretty standard even with Dash as far as I know... but what are the security hazards? I assume we are safe as long as we implement other security such as wallet encryption, hdd/ssd encryption, host-base security, etc. Am I on the right track?
Thx all for any discussion.
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