TWINS by New Capital in future will introduce a highly innovative and completely decentralized exchange platform with cross-chain atomic-swaps capabilities to facilitate the direct transacting of value between network users. The TWINS cryptocurrency will play a key role in empowering the exchange platform for trading of order listings and to reward the community-supported and decentralized hosting of network nodes.
However, let’s ask ourselves a question, what else TWINS by New Capital has to offer here. Answer would be the tail end of above explanation which talked about nodes. A node can simply be understood as a computer that plays a part in ensuring the integrity of a coin network. The crypto space is not only decentralized but also distributed; therefore it functions by several people running nodes from different parts of the world. That said, you require a full node to host a copy of the Blockchain (coin’s ledger) and thus support the network.
A Masternode is a crypto full node (computer wallet) that supports the network by hosting an entire copy of the coin’s ledger in real time. In return, the Masternode will receive crypto coins as a reward. It is a great alternative to mining. TWINS is a Masternode coin in which the algorithm rewards the network nodes for keeping the optimum speed and network health alive. A the time of this writing, TWINS is currently having 635 full Masternodes supporting and strengthening its network by keeping their systems and VPS online 24/7. One needs to have 1000,000 TWINS locked away in a specific address for 15 confirmations, before a Masternode could be started on a VPS. With 720 blocks in a day and increasing number of Masternodes, a full node gets about 14000 TWINS in a day as a reward for running a Masternode. This number will reduce gradually with increasing number of nodes in the network.
Why run a Masternode in general?
Besides the coin rewards that you get from running a Masternode, here are more reasons why you should consider a Masternode:
It increases the privacy of the transactions
It enables instant transactions
It allows the user to take part in governance as well as voting
It enables the treasury and budgeting system in cryptocurrencies.
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. TWINS has the most streamlined ways of running the Masternodes. A user can even setup a shared Masternodes as we have a bunch of vendors that offer their masternode services considering how flawless and secure TWINS ecosystem is.
The Hosting of a masternode requires a server with an unlimited internet connection. You may want to consider a Self-Managed VPS platform with support for backup and easy to use interface or use our sponsored vendors like Nodehub and Zcore which offer VPS full Masternode setup at very nominal price. The other hurdle you need to hit here is the requirement of a high minimum operational coin balance attached to your wallet. For TWINS, you require 1,000,000 TWINS to start off. Once you download and integrate your wallet with the minimum amount, you are good to go.
Following are generic steps that can help you setup a TWINS masternode. Please note that this is just general steps and for details, please feel free to refer our docs from https://win.win/ —
Purchase slightly more than 1,000,000 coins from an exchange (Bitsane or P2PB2B as of now)
Install a desktop wallet on the PC and harmonize it with the Blockchain.
Send coins to your desktop wallet.
Setup an address in your node wallet and remit the coins to your node address. This step allows you to obtain private
keys and more information required for the setup procedure.
Now, Set-up your node. You may use a personal server at your home or office, as well as get services from a virtual private server (VPS) from data-centers. Two VPS providers to consider are Vultr and Digital Ocean. Or feel free to use our full MN or shared MN hosting service providers.
Upon building installing and configuring nodes to your wallets, start your server. Start of the nodes daemon to allow synchronization with the Blockchain.
Now Set-up your Masternode on the desktop wallet and you can start it up.
Your running node will now start earning you the rewards.