As you all know, Pirl will soon be deploying masternodes, entering beta testing on December 11. Everyone has been very excited for this big step in Pirl’s development,and things are progressing nicely. While a lot of the specific information regarding the functions or Pirl masternodes is yet to be released, there are general purposes that can be applied to most masternode implementations:
- Rewards – For running a masternode, people are usually rewarded for providing resources to the network.
- Creating a stable network – Online 24/7, providing ample processing power and bandwidth, they form the backbone of the network.
- Performing Specific Functions – Beacause they are constantly online, and providing extra resources to the network, they can be used for more than just another peer connection. For example, other cryptocurrencies use them for decentralized governance, providing instant transactions, and also increasing privacy.
- Removing Coins From Circulation – In order to run a masternode, someone must offer up a certain amount of coins as collateral. This collateral must be present at all times, resulting in the coins essentially being removed from circulation (until the person decides to stop running the masternode).
A big question from everyone is what is required to run a masternode, so I’ll list the basics here, and also some links to vps providers to get you started. It is highly recommended that you don’t run your masternode off of your home internet connection. You will need a static, publicly accessible IP address on a dedicated server or VPS account that is online 24/7. CentOS is the recommended operating system, though other linux flavors can be used.
The resource requirements are 4GB RAM, 20GB Disk Space, and 3TB data transfer. This is, of course, the minimum that is needed. Take this into consideration: You have invested a lot of money into running a masternode, the purpose of which is to improve the Pirl network, while at the same time making some money. The better the specs of the VPS or server that you use, the more it helps the Pirl network. The better the Pirl network is, the more your investment benefits.
Below I have put together a list of VPS providers for those people wanting to get started. Keep in mind that the accounts and prices shown are only the minimum requirements. Take a look at other accounts as well if you want to provide more to the Pirl network. The price is listed in USD or equivalent.