1 week, 500 masternodes!
In less than one week after community distributions have begun on the ODIN blockchain, the community has deployed over 500 masternodes which are now set up and running smoothly. This is highly significant, as it immediately shows how committed our loyal community is to supporting, participating in and remaining part of the ODIN ecosystem.
Having over 500 masternodes up and running also means over 12,500,000 ODIN is also locked up as collateral. We are excited to see how many active masternodes the future will show us!
Top tips for setting up masternodes
These tips will help ensure your masternode rewards have maximum uptime and stability, and in addition, benefit the overall ODIN blockchain network. Remember, if you set up all your coins on masternodes, you are not required to keep your local wallet open in order to receive block rewards, but it is worth checking up on your masternodes periodically.
When you set up a VPS server, try to use one that at least meets the minimum specification of 2GB Ram, if you want to future-proof for when we implement the Zerocoin protocol on ODIN mainnet.
Restrict your masternodes to one per VPS. This aids the robustness of the network, as an unforeseen event (think hacks, power outages etc.) may knock down an array of VPSes. Such an event would not only reduce your stake rewards but also adversely impacts the ecosystem as a whole due to a reduced number of available nodes.
There are currently many masternodes set up in Europe and North America. If possible, set up your masternodes in a variety of locations, for example, Russia, China, India, Africa. Having a variety of locations over one central geographical hub is another key point in ensuring stability and health of the ecosystem. While we understand it’s much easier to bring all masternodes to a single provider, distributing your masternodes among multiple providers not only safeguards the Blockchain but also your own stakes.
Masternode Setup Guides
We start off with our official headless wallet masternode guide:
We have also created a guide for setting up an ODIN masternode with the ODIN Docker container which simplifies part of the setup process. We are also working on improving this with a graphical web-based front end.
The ODIN community has been producing a number of guides for masternode setups. These same members and others have been working tirelessly helping out newcomers in our Discord. Here are a handful of guides we have picked out (nicknames are from our Discord):
Cold Wallet setup by @Boofbatch547
Complete setup by @mrblister
Ubuntu 18.04 Masternode Hot Wallet guide on Vultr by @Dragonpie
Masternode setup Video guide by @Royal85
We are incredibly proud of our community, and equally impressed with how everyone helps each other out so readily through advice, problem-solving, guides, and also simply on a personal level.
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