The Open Network use the principle «Proof of Stake». This requires the use of masternodes. TON masternodes allow instant confirmation of Toncoin cryptocurrency transactions. Third-party developers (validators) are owners of Masternodes. Сreators of TON blockchain aren't owner nodes which guarantee the decentralized principle of the system.
Masternode is a server on decentralized network that has special advantages. Masternode’s key task is the realization of instant and anonymous transactions. Since The Open Network’s blockchain works by principle of PoS (Proof of Stake), the base of its operation are just the same master nodes, that allow to support a stable network function.
TON masternodes are privileged servers that participate in realization of transactions in the network, for what their owners receive a commission from those who make these payments. Not each person can become owner of TON masternodes. It’s necessary to fulfil 2 main conditions for it:
With it the network gets the necessary stability, by the reason masternode’s owners are forced to support it in a functional condition all the time, otherwise, they will receive a penalization or their server will lose the master node status completely, giving place to network participants who can guarantee greater stability of their server.
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In order for your server to become a masternode, it’s necessary to get into the TOP-100 of TON blockchain’s servers by the coins number located on them. That are very large quantities, which are available at this moment only to investors of the closed ICO Telegram Open Network. That’s why masternodes are owned by the investors or strange developers, who took for themselves the responsibility of support a powerful and stable server, and then attracted large amounts of Toncoins from primary investors in order to reserve them in the system.
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Masternodes allow their owners to earn by the confirmation of transactions in TON network. In addition to the possibility of earning, master nodes also bring the risk of losing coins, which masternode’s owner reserved as a deposit in TON network. If his server is unstable and periodically falls out of the network, he will begin to receive penalizations, that may exceed his earnings. That’s why it is extremely important when calculating the potential earnings on TON own master node also to apply here the risks of failures and partial loss of your capital.
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Masternode’s owner must have the possibility to reserve enough quantity of TON coins to get into the TOP-100 of the largest servers of TON blockchain. The second important factor is the stability of the server, which will protect the masternode’s owners and their nominators from the potential loss of their capital part because of server failures.
Nominator is an investor, who is ready to give masternode’s owner a loan of his Toncoins in order to, in the future, receive a commission from transactions, that will check master node. To become a nominator, it is enough to have TON coins minimum required amount on your wallet in TON blockchain and choose master node, which you are ready to delegate your Toncoins.
To be able to become one of the first nominators, subscribe to the Telegram channel of our project: TON News. You can find more information about how to delegate Toncoin to Masternode in Telegram channel Give me Gram!.
Masternode has 2 key characteristics:
More often, if a masternode has a long history of stable work, then the commission in it will be lower, what is logical, because of delegating to it, you have less risks to lose part of your money due to failures in its work. Conversely, if the masternode’s owner offers more profitable percent than the average for the market, then most likely he has a short history of work or he had already have failures in the past. Everyone is free to choose between the risk, that he is ready to take, and the profit, that he wants to obtain.
You can find a lot of useful information graphics about the risk balance and profitability for a nominee in our Instagram account.
