The masternode and its coins are a group of servers that support a decentralized Blockchain network. Most Masternodes use the Proof-of-Stake or Hybrid Proof-of-Stake + Proof-of-Work consensus process.
How do Masternode coins differ from other cryptocurrencies?
For some cryptocurrency networks, masternodes provide security. Launching masternodes costs money; Therefore, Blockchain attack will require a lot of resources. Second, trying to disrupt a network secured by masternodes requires extensive planning. Not only does it take time to set up nodes before they work properly, but it often takes a long time to override the consensus mechanism of an existing master node-based network.
In other words, masternodes ensure the authenticity of the network. Masternodes must ensure that the Blockchain is correct and that attacks are impossible. In this article, let’s consider the best masternode coins to watch for high profits in 2022. Analyst Will Izuchukwu accompanies us on this.
Best Masternode coins for 2022 radar
Syscoin (SYS)
SYS aims to support smart contracts in the metaverse, Internet of Things, smart cities and future interplanetary economies. Syscoin is the only layer 1 Blockchain that scales with EVM functionality, according to their website.
Syscoin helps smart contracts by protecting transactions with a network of Bitcoin miners through PoW and federated mining. Additionally, Syscoin offers “finality” using Blockchain locks powered by paid masternodes. This certainty has some features besides perpetuating the established Nakamoto consensus and PoW. For example, it provides safer Defi by effectively removing the dangers of 51% attacks and long-range miner extractable value (MEV) attacks, to which Ethereum is still vulnerable.
SYS is currently trading at $0.1388, down over 6%. Earlier this year, it registered an ATH price of $1.31. It is now trading at a 90% discount from this level.
Flux (FLUX)
One of the latest projects of decentralized cloud infrastructure is Flux. With Flux, applications can be hosted and maintained on multiple servers at the same time. An interoperable, decentralized, AWS-like development environment is provided by Flux Ecosystem, a fully functional decentralized computing services and collection of Blockchain-as-a-service solutions.
The Flux ecosystem consists of the following components:
- Flux is a native GPU-minable POW cryptocurrency that provides incentives for hardware hosts, DAO management on the blockchain, and bad actor mitigation.
- Flux nodes run on Raspberry Pi/Home PC/Servers/VPS hardware from anywhere in the world.
- FluxOS An operating system running on Linux to manage the network by validating and benchmarking computing power, deploying, running and load balancing decentralized applications, managing XDAO governance and more.
- Parallel chain interoperability, a DeFi bridge providing access to large decentralized exchanges.
- Zelcore is the official Flux wallet, the leading multi-asset, self-storage wallet for PC and mobile.
Horizon (ZEN)
Horizen, on the other hand, is famous for its proficiency in zero-knowledge Blockchain technology. The team behind it has made numerous strides in cryptography in particular, including introducing one of the first zero-knowledge scalability solutions and the Ginger-Lib zero-knowledge privacy tool library.
According to its website, Horizen is powered by the most robust public infrastructure developed with multiple security slides. In addition, Horizen’s distributed node system ensures the scalability, reliability, security and speed of its network. Horizen also provides enhanced consensus assurance against a 51% attack.
At the time of writing, ZEN price is trading at $13.43. As quoted by Kriptokoin.com, $168.15 is 92% away from the ATH price.
Dash (DASH)
According to its website, Dash wants to be the most scalable and user-friendly crypto for global payments. The whitepaper of the project highlights that Dash provides enhanced privacy and faster transactions. He also states that he aims to improve Bitcoin (BTC).
Dash’s governance structure allocates 10% of the block rewards competitively and decentralized for the development of the project. DASH is currently trading at a discount of 97.28% from its peak of $1,642.22.
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