Masternodes

Let's walk together through all you need to know about VPS Requirements for Masternodes, a full setup guide, and related information.

What is a masternode?

G999 masternode is defined as a governing hub in our blockchain network. It requires initial collateral of 749.999 G999 coins to operate. A node is defined as any computing device (computer, phone, etc.) that is maintaining a network. A masternode is more than just a node, is the second layer of security of the blockchain.

Not every method of earning money from the cryptocurrency market needs to be hands-on. In fact, passive income is an increasingly important part of the ecosystem picture. One of the passive income makers gaining popularity is by becoming a masternode for the G999 blockchain. Hosting a masternode can not only be profitable and bring you a stable 7.5% revenue annually; it also contributes to the overall health of the blockchain and decentralization of the communications.

How does it work?

Masternodes, which are also known as bonded validator systems (we'll stick with masternodes or MN), are servers that provide additional services for the blockchain that can't be accomplished using Proof-of-Work.

A masternode can be thought of as a “super node” , a touchpoint that keeps a full copy of the blockchain network in real-time. It’s one of many such masternodes on any particular blockchain network.

Masternodes serve an important function for the smooth running of the network, with special functions including increasing the privacy of transactions, maintaining network security, etc. All the masternodes are connected to each other, and it is this that makes the blockchain decentralized. In other words, the integrity of the network is never at risk from one single point of failure. Those owning and maintaining the masternodes get rewarded for doing so because their service maintains the function of the cryptocurrency.

Great, how do I get a masternode?

The good news is that anyone can have a G999 masternode. All you need to start is 749.999 G999 cryptocurrency of the network. The network must maintain its integrity, but also keep the value of itself, so we are the first blockchain limited by the number of masternodes, a total of 4000 are available for running and rewarding the community.

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LIMITED TO 1000 SPOTS

Here’s what you’ll need to continue:

  • A number of 749.999 G999 coins for the collateral deposit.
  • A stable VPS server on which you host the masternode wallet, and this must be online 24/7.
  • A dedicated IP address
  • Sufficient storage space for the entire blockchain.

By running a masternode you’re a pillar of support that ensures our particular blockchain runs smoothly, transactions go through in double-quick time and everyone is, therefore, happy. But you’re not going to put in that expense and time for nothing.

Other cryptocurrencies have different ways of rewarding their masternode operators. And the best bit is, once you’ve done the initial legwork, you can sit back and do very little. It’s a cool passive rewarding or coins you can make while you sleep. The reward is distributed for every validated block, in a total of 7.5% per year and you are able to consume your masternode rewards under the utility of the G999 blockchain.

Can you stop being a masternode at any time?

No, you can't. While your masternode is active, your G999 collateral is ‘locked’ meaning you can’t access them for any other purpose, like making purchases or simply using them for blockchain services such as e-mail or chat. If you want to stop hosting your masternode, you can do so, but only after 12 months from the moment, you placed the exact amount of G999 coins in a wallet. After 12 months, there is a 10 days window when you can move your coins and use them after for any other purpose.

If you purchased the initially required collateral to set up a masternode, we are here to share with you the technical skill to do so (there is also our intuitive guide available), then it could be a great opportunity for you.

Hosting Requirements

What do you need to do to host a G999 Masternode?

Ubuntu 18.04.1 LTS with C++ 17 compiler

+ KVM or OpenVZ (KVM preffered)

2 Core x64 CPU w/SEE

(4 Core Recommended)

4GB+ RAM

(8GB+ Recommended) 4GB Swap File if under 8GB

80GB+ SSD Hard Disk

(100GB+ Recommended)

Static IP Address

Dedicated IP address For Your Server.

Installation

Would you like to learn more about how to setup a G999 Masternode?
Check out our official guide which includes an easy-to-use install script, or join our Discord below.

Exchange G999

Exchange G999 coins from
the listed markets.

Get a Server

Check the requirements and
buy a VPS server.

Install Wallet

Run the script and install
the wallet on the server.

Send G999

Transfer 749.999 G999 coins
to your wallet.

Get Rewarded

Keep running your MN and
collect 7.5% each year.

G999 Masternode
Setup Guide

Single masternode on Linux VPS + cold control wallet on local PC

This guide is for a single masternode, on a Ubuntu 16.04 64bit or on Ubuntu 18.04 64bit server and will be controlled from the wallet on your local computer.

First the basic requirements:

  1. 751000(masternode collateral + fees) G999

  2. A main computer(Your everyday computer)

  3. Masternode Server(The computer that will be on 24/7)

  4. A unique IP address on masternode server for EACH masternode

The basic reasoning for these requirements is that you get to keep your G999 in your local wallet and host your masternode remotely, securely.

For this guide, I’m going to refer to your main computer’s wallet as the main wallet, and the masternode wallet as the masternode wallet.

I. Deploy VPS and configuration

  1. Get a VPS server with min. 1GB RAM and Ubuntu 16.04 or Ubuntu 18.04 as operating system

  2. Get PUTTY for your operating system from https://www.putty.org

  3. Always use mouse selection for COPY text from PUTTY to WINDOWS

  4. Always use right button click for PASTE text in PUTTY from WINDOWS

  5. RUN script bellow(select from below, COPY, PASTE in Putty and press ENTER):

    6. wget -qO- https://bitbucket.org/gsbank/g999/downloads/G999_installer.sh | bash

    (It may take 2-3 minutes. It will automatically install and configure masternode wallet for your masternode server!)

  6. Note VPS_IP:PORT and Masternode Privatekey(this will be the masternode’s privkey) in Notepad(text file)! - We’ll use this later…

II. Install main wallet and configuration

  1. Unpack it and launch G999-qt.exe

  2. Select "Use a custom data directory" and use D:\G999\data as folder

  3. SETTINGS -> OPTIONS -> WALLET and check "Show Masternodes Tab". Press OK and restart main wallet

  4. TOOLS -> DEBUG CONSOLE and type the following command: getaccountaddress mn1

  5. Send 749999.00 G999* to this address.(Make sure this is 100% only 749999.00; No less, no more.) and wait for 15 confirmations

    6. *Due to the technical solution which G999 relies, the amount of 749999.00 G999 must be sent ONLY to Masternode address! Please do NOT send this amount to exchanges or to any other address, as it will be locked for one year!!!

  6. Still in the main wallet, enter the command into the console: masternode outputs (This gets the proof of transaction of sending 749999.00)

  7. Still on the main computer, go into the G999 data directory(D:\G999\data) Find masternode.conf and add the following line to it:

    8. <Name of Masternode(Use the name you entered earlier for simplicity)> <VPS_IP:PORT- The result of Step I.4> <Masternode Privatekey- The result of Step I.4> <Result of Step II.6> <The number after the long line in Step II.6>

    Substitute it with your own values and without the “<>”s

    Example:

    mn1 10.10.10.10:47002 6Kwq6EnAGtj6aNCo29XaQs8LQTE9oSsnBenH7ymHiZmLX2h7v4g e629899c90494cf2a0b8935bece819480db0749b59e0d65ffb55c9bffaed5f99 1

  8. Still on the main computer, in same folder , open the G999.conf file. Make it look like this:

    9. rpcuser=RandomUsernameOnlyAlphabeticWithoutSymbolsAndSpaces

    rpcpassword=RandomPasswordOnlyAlphabeticWithoutSymbolsAndSpaces

    rpcallowip=127.0.0.1

    listen=0

    server=1

    daemon=1

    Make sure to replace RandomUsernameOnlyAlphabeticWithoutSymbolsAndSpaces and RandomPasswordOnlyAlphabeticWithoutSymbolsAndSpaces with your own.

  9. Save it, close and restart the main wallet. Wait for full sync.

  10. Masternodes tab -> Start all

Congratulations!

You have successfully created your masternode!

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Masternodes Rewards

Using your G999 coins in a masternode offers a way to earn rewards on crypto in return for holding a balance of funds in a designated masternode wallet. The funds you keep in your cryptocurrency masternode wallet help power a network, which is why the G999 blockchain is sharing a reward.

Rewards and rules

Masternode owners must deposit 749.999 G999 to run a masternode. Each masternode also hosts a full copy of the blockchain in real-time alongside a full copy of the ledger, allowing the masternode to feed a secondary-level of services over a network and facilitate more advanced functions, like carrying out specific tasks related to block validation. For this, the owner will be rewarded with 7.5% each year with an amount of almost 56249 G999. The rewards will start to be paid immediately.

Once you made the collateral deposit, the coins will be deposited for the next 12 months, and you will be able to move them on a 10 days time frame. If you choose not to move them, the renew of the masternode will be done automatically by the blockchain.

You must be very careful when you make regular transactions over the G999 blockchain because if you send by mistake the exact amount of 749.999 G999 on a wallet, those coins will be automatically locked for the next 12 months, and one masternode wallet will be created using them.

0%

/year

(56249 G999)

1 Masternode