Staking and Masternodes

Running a Bitcoin Incognito Masternode requires a combination of staking coins (i.e. holding and evidencing them in your Desktop Wallet) and running a the Bitcoin Incognito service, i.e. a computer program on a server that participates in the blockchain transaction verification, block building and propagation process.

To run a masternode, you need install the masternode service (see the links to GitHub) on a server that will run 24/7 and you also need to stake a minimum number of coins to that masternode service. For Bitcoin Incognito the staking requirement has been set to 3000 XBI.

If you simply run the service and do not evidence a verified transaction that meets the minimum number of staked coins for the masternode service, then the other masternodes on the network will ignore your server and it will not receive rewards.

In the Bitcoin Incognito network staking coins and running a masternode are closely related. Staking differs subtly from masternode rewards, in that it relates to the process of holding coins in your wallet and keeping your wallet connected to the blockchain network 24/7 – with Bitcoin Incognito staking rewards only accrue for the coins staked against your masternode and not unstaked coins. In order to correctly stake coins you need to input data into the XBI.conf file for you Desktop Wallet. The required data being the in the format:

server-alias IP-Address:port masternodeprivkey collateral_output_txid collateral_output_index

 

So for example:

MyMasterNode 19.248.32.180:7250 87PRpwejmFWV1pGHA0kTrdijY5kptFjXBI6R5RdLsHat7b1Lo7z 78d3391c94b235f9b271e3e8fe062b3f9338ee16bd0a7c782e1567bc6942fc19 0

 

These two factors, i.e. staking and masternode rewards determine how much income you can earn from running the service. However, it should be noted that the reward selection process is decided randomly between the network of masternodes, and so whilst earning rewards is expected it is not strictly guaranteed to occur at a given time interval, but this should average out over time.

http://xbi.mn.zone/

# DNS seeds updated daily with 2 x 24 reachable MasterNode IPs:

addnode=xbi.seeds.mn.zone

addnode=xbi.mnseeds.com

# Static list of reachable MasterNode IPs:

addnode=209.97.129.212:7250

addnode=45.77.141.116:7250

addnode=140.82.5.242:7250

addnode=80.211.42.92:7250

addnode=114.67.72.145:7250

addnode=5.9.85.120:7250

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