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HomeGlossaryMasternodes

Masternodes

By CoinGecko | Updated on Mar 03, 2020
Computers that are responsible for processing blockchain transactions and receive a reward when a block is mined. To create a masternode you need a large amount of coins from the cryptocurrency for which it is developed.

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Related Terms

Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
51% Attack
An attack on blockchain by a group of miners controlling more than 50% of network hash rate
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Hard fork
It is a permanent divergence of a blockchain into two blockhains. The original blockchain does not recognize the new version.
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