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Nowadays, in the cryptocurrency sphere, there are many ways you could make money. In particular, buying and selling cryptocurrencies for a profit through an exchange is probably the most popular method. However, lately, there has been a lot of hype around the term Masternode, and cryptocurrency traders love it. 

But what exactly is a masternode? Lucky for you, in this article, we will not only explain what masternodes are and how they work, but we will also go through the three most reliable and profitable masternodes in 2020. So, shall we begin? 

What is a Masternode Coin

In short, a masternode is a cryptocurrency full node – a computer wallet. Moreover, masternodes incentivize node operators to perform the core consensus functions of running a blockchain. In other words, a computer wallet that stores the complete copy of the coin’s ledger in real-time and part in ensuring the integrity of the network. 

To illustrate, masternodes are like a backbone to the blockchain network. Therefore, the Masternode operator receives cryptocurrency coins as a reward. In general, Masternodes are a great alternative to cryptocurrency mining. 

Benefits of Investing in Masternode Coins 

Masternodes are a great source of passive income. Not only do operators get coin rewards, but there are other reasons why you should consider running a masternode. Above all, with masternodes, there’s an increase in the privacy of the transaction. Also, they enable instant transactions. Moreover, Masternodes allow operators to take part in governance and gives them voting right. Last, a masternode enables the treasury and budgeting system in cryptocurrencies.

Which are The 3 Best Masternode Coins Worth Investing In 

DASH (DASH) DASH (DASH) 

First Announced: January 18, 2014

Blockchain: Own Blockchain

Consensus: Hybrid PoW/PoS

Staking APR: 6.44%

Block Time: ~2.6 minutes, 2MB blocks, ~56 transactions per second

Algorithm: X11, CPU/GPU/ASIC mining available

Masternode Support: Yes

Coins Required: 1000 DASH

Coins Rewards: 45%

Total Coin Supply: Between 17.74M and 18.92M

Certainly, Dash is the next generation cryptocurrency. In detail, this digital currency enables users to make quick and easy payments at any time and from anywhere in the world without going through a central authority. In short, Dash offers user-friendly and safe payment methods. 

Dash (formerly known as Xcoin and Darkcoin) is based on a decentralized peer-to-peer network. Moreover, the digital currency is secured by strong cryptography. Further, Dash has no premine and was launched fairly and transparently. Furthermore, its currency symbol in the markets is DASH. Also, Dash offers more significant privacy features than Bitcoin as well as quicker confirmation times.

  • Decentralized second-tier masternode network
  • Superior transaction anonymity using PrivateSend
  • Instant transactions using InstantSend
  • Decentralized Governance By Blockchain allows masternode owners to vote on budget proposals and decisions that affect Dash

Daily income

$21.0868

0.00228291 BTC

0.1831 DASH

Weekly income

$147.6075

0.01598039 BTC

1.2817 DASH

Monthly income

$632.6036

0.06848738 BTC

5.4930 DASH

Yearly income

$7,696.6768

0.83326316 BTC

66.8315 DASH

DASH (DASH) stats

Source: Masternodes.online

PIVX (PIVX)

PIVX (PIVX)

First Announced: November 25, 2015

Blockchain: Own Blockchain

Consensus: PoS (Proof of Stake)

Staking APR: 11.09%

Block Time: 60 seconds

Algorithm: Quark

Masternode Support: Yes

Coins Required: 10000 PIVX

Total Coin Supply: 56,781,166 PIVX

CodeBase: PoS 3.0 Bitcoin Core 0.10.x

To explain, PIVX stands for Private Instant Verified Transaction. Further, with PIVX, users can enjoy near-instant transactions and small fees. Moreover, Zerocoin provides full privacy to all PIVX users. Besides, the SwiftX transactions take only a few seconds to be confirmed. Also, they are guaranteed by the network of masternodes. In other words, PIVX users won’t have to wait long for their transactions. 

Furthermore, PIVX is the first proof of stake cryptocurrency to be based on version 0.10 or higher Bitcoin codebase. On the other hand, with PIVX, the incentivized masternodes receive rewards based on two things. In particular, first, their availability and seconds, their ability to offer network services in a decentralized and trust-less manner.

Daily income

$0.8559

0.00009269 BTC

2.9662 PIVX

Weekly income

$5.9910

0.00064886 BTC

20.7634 PIVX

Monthly income

$25.6757

0.00278081 BTC

88.9860 PIVX

Yearly income

$312.3879

0.03383322 BTC

1,082.6630 PIVX

PIVX (PIVX) price stats

Source: Masternodes.online

 

Zcoin (XZC) 

Zcoin (XZC)

First Announced: October 6, 2016

Blockchain: Own Blockchain

Consensus: PoW (Proof of Work)

Block Time: 9 minutes

Algorithm: Lyra2Z

Masternode Support: Yes

Coins Required: 1000 XZC

Coins Rewards: 25% 

Total Coin Supply: 21,400,000 XZC

In short, Zcoin is the first cryptocurrency to implement the Zerocoin protocol. Moreover, this protocol ensures private transactions. Also, Zcoin has an anonymity set that encompasses all minted coins in a particular RSA accumulator. Further, its currency symbol in the markets is XZC.

In addition, Zcoin is the first full implementation of the Sigma Protocol. Moreover, this protocol ensures complete privacy via zero-knowledge cryptographic proofs. Furthermore, this digital cryptocurrency uses a unique Proof-of-Work algorithm. In particular, the algorithm focuses on ASIC-resistance and mining. 

Daily income: 

$3.3618

0.00036403 BTC

0.4236 XZC

Weekly income

$23.5325

0.00254820 BTC

2.9652 XZC

Monthly income

$100.8534

0.01092087 BTC

12.7080 XZC

Yearly income

$1,227.0497

0.13287063 BTC

154.6140 XZC

Zcoin (XZC) price stats

Source: Masternodes.online

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