How to setup a masternode on a (LINUX) VPS to earn rewards for supporting the rpicoin network, if you don’t have the required collateral of 10M $RPI. Then you still have the ability to stake regular within your wallet and the amount of coins you have. The rewards will be less frequent compared to Masternode holders.
TODO:
You need to meet the following requirements in order to setup a RPI Masternode
Make sure you have exact 10.000.000 (10Million) RPI available as collateral
A main computer (Your personal laptop, computer, raspberry Pi etc…) to act as the “main control wallet”
Masternode Server (The computer that needs to be online 24/7) (Preferably: Linux distro).
Every Masternode needs to have a diferent IP address for EACH masternode
(this mandatory to keep the network as decentralized as possible).
We will use Windows 10 as the main (controll) wallet which holds all the RPI coins.
The Masternode will run on a Ubuntu Server 16.04 LTS or 18.04LTS for the VPS
The main (windows) wallet will hold all RPICoins used to run the maternode, this way your funds are always in control of the user. If an hacker would hack your VPS (which is the masternode) they can’t do anything with the information available, the coins are stored on your peronsal computer and not on the VPS.
For this guide, We’re going to refer to your main computer’s wallet as the main wallet and the VPS’s wallet as the masternode wallet |
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Using the main wallet (windows), enter the debug console and type the following command
masternode genkey getaccountaddress <Choose any name for your masternode> masternode outputs |
Ciommand1: This will be the masternode’s private key. Make sure you save this as we will use this later. (save the privkey)
Command2: Creates a wallet for your masternode you can name it MYNODE1 or whatever you want. (save the wallet address / name)
Command3: Again in the control wallet, send 10,000,000 RPI to the address that was generated in the previous step.
Command4: This command outputs the Transaction ID of the .
Note: Make sure you send the collateral amount to the adress previously generated in step 1
Note: Make sure you send EXACTLY 10000000 RPI in one transaction to that address (not more nor less).
Command3: getaccountaddress <Choose any name for your masternode>
getaccountaddress <Choose any name for your masternode> |
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