How to deploy a XinFin Public Masternode
This guide will demonstrate how to set up a single masternode for the very first time. You will need the following before starting:
At least 10,000,000 XDC with masternode holder to perform random delegated proof of stake consensus seamlessly.
Wallet to store XDC tokens, preferably hardware.
Dedicated and stable hardware environment.
Dedicated Static Public IP address.
100% network uptime by IDC network.
Minimum tier 3+ IDC environment.
(Optional, but highly recommended) Virtual Private Server (VPS).
For cloud based services, Amazon EC2’s m3.large VM size would be appropriate. Similar configuration is applicable for Microsoft Azure Cloud network.
This guide will cater to the following system configurations:
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About XinFin Masternode
XinFin’s token XDC supplants proof-of-work consensus algorithm (popularly linked with mining) with random delegated proof of stake consensus algorithm, fundamentally using the concept of “validators”.
Validators are special nodes used in the RDPoS consensus algorithm which validate each transaction occurring on the blockchain network. The result of this validation is to finally append the transaction on the blockchain. A transaction may be accepted by the validator or rejected. (Important: There can be multiple validator nodes in each network.)
Decisions made by these validator nodes are broadcasted through the network as messages which are signed (attested) using validated cryptographic public key. Every validator node running XDC protocol in the RCL network is responsible for deciding its Unique Node List (UNL). This list holds information about which regular nodes the validator cares about.
To set up a masternode, make sure your XDC protocol running node is publicly identified and has gone through the compliance process. Every Node Holder needs to upload KYC document (Proof of identity (Individual and Corporate) and address duly notarized by the Notary Public) and this detail will be visible to the public network.
Why set up a masternode at all?
It is necessary to set up a masternode to operate on XDC protocol because masternodes make the decentralised blockchain network self-sustainable. Deploying masternode is conducive to trusted, scalable decentralised network infrastructure. Such an environment facilitates greater stability and reliability on the network.
Functions of masternode
In random delegated proof of stake blockchain environment, masternode concept is cardinal to the functioning. A masternode validates each (or segment of transaction depending upon UNL) transaction and is also responsible for writing the transaction onto the truth ledger: the blockchain. As a consequence, this makes decentralised governance of the network possible.
Master node
Masternodes are full-nodes that create, verify and validate new blocks in
XinFin’s platform.
mXDC:- Let’s assume mXDC {mainNet-XDC} will be native crypto on XinFin
dPOS network. mXDC will be rewarded to MN Owners.
Epoch:- We can use epoch instead of hard date to distribute
incentive/rewards to masternode owners (1 epoch could be number of block, for
example {1 Epoch = 888 Blocks}
Masternode Candidate: Any account can deposit X mXDC using the official
on-chain governance d-app to complete KYC complaint to become a Masternode
Candidate. X’nos mXDC deposit can earn staking rewards. A Candidate can
resign, but the mXDC tokens will be locked for the next 30 days ( Let’s assume
we have new block in each 2 sec 1,296,000 blocks) after the resignation.
Becoming a Masternode: A Candidate becomes a Masternode when he/she belongs
to top 50 most voted Candidates in each epoch. A Masternode can resign, but the
tokens will be locked for the next 30 days after the resignation.
Reward: The reward a Masternode receives in each epoch is proportional to
the number of signatures he/she signs.
Restrictions on nodes which aspire to become masternodes
Nodes which possess any of the below mentioned characteristics may not qualify to become masternodes:
Anonymous entity on the network.
Intentions to fork XDC Software.
Entity or Individual with Criminal record in past.
Entity or Individual which does not comply with local law of land.
Incentives to set up your own masternode
Several reasons why setting up a masternode is useful are:
Reputation building within the network community.
Trust Factor enhances for your node particularly since network relies on your
node.
More Incentive gain as your node pushes more transactions on network.
Private blockchain is capable of running its own use case.
Important: Max number of Master node allowed in the network is 5000.
Incentives for all validator node: information required depends on Nos of Block created by validator node (incentive In terms of XDC)
Reward Cycle: Every 15 days.
FAQ
1. What is Masternode Node? Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain record in real-time.
2. What is Validator node? In XinFin, ‘Validator Node’’ are full nodes that incentivize node operators to perform the core consensus functions of running a DPoS based blockchain. Only Validator Node gets incentive to validate the transaction.
3. How to become a Validator Node? Under Xinfin RDPoS, XDC Stakeholder Node Act as Validator node rest node act as Backup node and Private node.
4. If there is no transaction fees on network then how validator gets incentive? Network generates additional coin to provide incentive to validator node. Nos depends on network load and numbers of transactions processed within the network.
5. How to get XDC ? XDC is listed with more then 20 Liquidity Exchanges, full list of exchanges is available at xinfin.io to purchase XDC from open market to stake under masternode.
6. How to get a Test XDC ? Test environment or Test infrastructure available at: http://xinfin.network (select "Switch to Testnet" Menu) to get TEST XDC. Generate A Test Access Token not only help to Setup Masternode but to test Web Wallet / Mobile Wallet, XDC Explorer within Test environment.
Hands on guide: How to Setup Masternode
There are two methods to choose from to set up the masternode:
DIY masternode environment set up
Delegate masternode set up to third party service provider
METHOD 1: DIY masternode environment set up
XinFin XDC Testnet
Prerequisite
Operating System: Ubuntu 16.04 64-bit or higher
Should be facing internet directly with public IP & without NAT
Tools: Docker, Docker Compose
Network Ports
Following network ports need to be open for the nodes to communicate
Port | Type | Definition |
8545 | TCP | RPC |
30303 | TCP/UDP | XDC |
Setup
Clone repository
Enter XinFin-Node directory
Step: 1 Install docker & docker-compose
Step: 2 Update .env file with details
Create.envfile by using the sample -.env.example
Enter your node name in the INSTANCE_NAME field.
Enter your email address in CONTACT_DETAILS field.
Step: 3 Start your Node
Run:
You should be able to see your node listed on this page: http://Xinfin.Network
Your coinbase address can be found in xdcchain/coinbase.txt file.
Troubleshooting
If you are having problems with Setup, the first step is to collect more information to accurately characterize the problem. From there, it can be easier to figure out a root cause and a fix.
Topic: Public discussions on the technical issues, post articles and request for Enhancements and Technical Contributions Slack Public Chat, Telegram Chat, Forum, GitHub
METHOD 2: Delegate masternode set up to third party service provider
Set up your Masternode using one of these 3rd party Masternode service providers.
DISCLAIMER: This list is provided for informational purposes only. Services listed here have not been evaluated or endorsed by XinFin and no guarantees are made to the accuracy of this information. Please exercise discretion when using third-party services.
List of service providers to Setup masternode
1. IndSoft.net
IPv6 and tor Supported
Global geographical locations
Fully Managed Network
Network attack prevention (DDoS)
One time Setup Cost: Free
Monthly: 250 USD (pay in XDC, Paypal, debit, or credit card)
Are you a Provider?
If yes, then Contact us to list your service.
Where to operate? Mainnet vs Testnet:
In XinFin, there are two networks where you can run XDC protocol: the mainnet and the testnet.
The mainnet is used to transact real XDC. The XDC’s value is tied to real fiat currency via cryptocurrency exchanges.
As developers, you do not want to run application tests with real money. That is what the testnet is for. We call the testnet XinfinTestNet.
Troubleshooting
If you are having problems with Setup, the first step is to collect more information to accurately characterize the problem. From there, it can be easier to figure out a root cause and a fix.
Topic: Public discussions on the technical issues, post articles and request for Enhancements and Technical Contributions Slack Public Chat, Telegram Chat, Forum, GitHub
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