How it works
What is a Masternode?
A Masternode is a server that has the specified cryptocurrency node (full blockchain). This node is synchronized and always connected with the cryptocurrency network. A masternode performs specific tasks related to transaction approving and propagation along the network. A Masternode is rewarded for these tasks. There is always a deposit required to start a masternode. This principle is called Proof of Stake (POS).
Think of masternodes as a type of mining but without the power consumption needed for GPU rigs or ASIC devices. To get your masternode going, you should invest a significant amount of money, as well as configure the cryptocurrency node and server for it to operate flawlessly.
How Does 2Masternodes Work?
2Masternodes is the first fully automatic cryptocurrency masternodes hosting service. It allows you to buy entire masternodes or their shares. In just a few clicks, you can choose from a list of supported cryptocurrencies and become a masternode co-owner. You don’t pay for hosting. There are no hidden or extra payments involved. The process of masternode creation and synchronization is entirely automatic. 2Masternodes service is brought you by the creators of 2Miners cryptocurrency mining pools.
2Masternodes allows you to buy either a masternode share (create a masternode jointly, which is similar to pool mining) or an entire masternode. The service automatically configures the server, downloads and synchronizes the blockchain, and then pays out the rewards entitled to the masternode for its work, that is, to all masternode co-owners, depending on their invested assets percentage. The service fee is 10% and charged only when the masternode rewards arrive.
You need to have access to your wallet address to initiate the sale of your masternode share. You will receive your coins back in 3 days time for a full masternode and 2 weeks for a masternode share. Please note you will not receive any rewards after the exit process confirmation.
How Secure is the 2Masternodes Service?
The only data stored is your wallet address. No registration is needed. The process of the masternode generation is anonymous and transparent – all transactions are public, and you can easily monitor service operations using the blockchain explorer that provides information about cryptocurrency blocks.
2Masternodes is built according to industry standard security solutions with multiple layers of protection, including, but not limited to:
- Each masternode is run on its virtual instance on Amazon Web Services, with no direct IP access to the instance (even the node interaction is done through a dedicated Elastic Load Balancer to hide the real IP of the running node)
- The critical parts of the system (such as the backend controlling incoming funds) have no external internet access at all and hidden in virtual private networks inside AWS.
- Constant monitoring of vulnerabilities discovered in the packages used by the backend and other systems to prevent breaches based on the abuse of long known vulnerabilities
- Constant monitoring for zero-day exploits to quickly address any potential problems.
- Access to mission-critical parts of the system is limited to a very few core team members.
- Parts exposed to public internet have no control over the funds or the masternodes controlled.
Obviously, for security reasons, we are not going to disclose all of the security measures in effect, but rest assured, we have substantial experience in maintaining military-level security for internet resources.