5 Masternode Programs with Promise in 2020

Guest Author blog November 18, 2019
masternodes

5 Masternode Programs with Promise in 2020

For many crypto enthusiasts, crypto mining, once an easy way to passively acquire freshly minted digital currency, has fallen out of favor. More and more, these programs are dominated by large operations with advanced technological capabilities that can limit rewards in an increasingly competitive mining environment.

As a result, many are turning their attention to masternode programs that exchange responsibility for blockchain maintenance for cryptocurrency. While not every blockchain platform offers a masternode program, many are beginning to emerge, as they represent a compelling way to acquire crypto without buying it on an exchange.

Here are five programs to consider in 2020.

#1 Velas

Velas combines blockchain technology with Artificial Intuition, and, last month, it announced its highly secure crypto wallet, opening the door for a masternode program. Now users can enroll as masternodes by staking 1 million VLX, the platform’s native digital currency. However, even for users that don’t have 1 million VLX to stake, they can sign up using CoinPayments, a prominent crypto gateway with ties to Velas.

Alex Alexandrov, the CEO of both Velas and Coinpayments, made headlines last month as a member of Ukraine president, Volodymyr Zelensky, who legalized cryptocurrency in the country. He has played a central role in shaping crypto policy in the country as he works to promote crypto adoption around the world.

Notably, users don’t have to be tech-savvy to be a Velas masternode. Merely by downloading the Velas web wallet and staking their sum, users can participate in the program, which expects payouts to occur every 4 hours with estimated annual returns of 8%.

#2 DASH

Dash is one of the most prominent hardforks associated with Bitcoin, serving as digital money that sheds the speculative aspects of Bitcoin while striving to provide instant, global, and easy-to-use digital currency to the growing number of crypto users. In February 2019, DASH announced its staked masternode program that offers users a way to passively earn the platform’s native DASH currency.

DASH uses a dynamic number of masternodes, but users can enroll in the program by staking 1,000 DASH as collateral. The platform forecasts 7% yearly return for participants, and, despite the platform’s recent price drop, it still serves as one of the most well-recognized and popular blockchain platforms available. Enrolling as a masternode could be an affordable way to both support DASH’s proliferation while also acquiring additional crypto along the way.

#3 VeChain

VeChain is focused on enterprise applications, and its masternode program is key to fulfilling its mission. Consequently, users participating in its program, dubbed Authority Nodes, can earn freshly minted currency.

The platform limits its Authority Nodes to 101, so the opportunities aren’t infinite. However, anyone with 25 million VET, VeChain’s native cryptocurrency, can apply to participate. In addition, VeChain requires additional paperwork that can complicate the process, but, in the end, the platform pays rewards every 10 seconds.

While its payout procedure isn’t as straightforward as some other masternodes, its purpose of providing enterprise blockchain initiatives places it squarely in the middle of one of the most highly pursued elements of the blockchain era, which always makes a masternode program more attractive.

#4 Zcoin

Zcoin emphasizes the privacy element of blockchain technology, allowing users to exchange cryptocurrency using zero-knowledge cryptographic proofs. This is an intensive process, and the platform relies on its masternodes to maintain the blockchain. With Zcoin, masternodes are known as Znodes, and they verify Zerocoin transactions, earning a 30% block reward commission for their efforts.

To run a Znode, users have to stake 1,000 XZC and download Zcoin’s official wallet software. Moreover, there are other technical requirements, like a computer with at least a single core CPU, 1GB of RAM, and 40GB of disk space. Fortunately, once the technology is in place, users are ready to start earning cryptocurrency from a platform embracing one of the dominant ethos of the digital age.

#5 PIVX

PIVX is a blockchain platform providing private, instant, and verified transactions, and its efficacy is contingent upon its masternode program. By depositing 10,000 PIVX into the platform’s crypto wallet, users can maintain one PIVX masternode that provides rewards to participants. These rewards are paid out every 60 seconds when six PIV are created. One is designated to the development pool, and the rest is divided among the masternodes.

While the annual return will vary, PIVX expects users to receive a 4% reward for their efforts. The PIVX masternode program does have some technological requirements, including 25GB free SSD storage and 1GB of RAM, and 1 TB bandwidth. The rewards aren’t as prominent as those offered by DASH and Velas, but it’s still a compelling opportunity for crypto users looking to add new digital assets to their cache.

Conclusion

Participating in a masternode program entitles users to earn new cryptocurrency without designating significant computing power or electricity to the operation. At the same time, they can participate without the intense competition that often surrounds other consensus mechanisms.

As the crypto ecosystem storms into 2020, a masternode program should be on the radar of every crypto enthusiast looking to capitalize on the industry’s latest trends.

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5 Masternode Programs with Promise in 2020
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