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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

Cryptography
A discipline or field of study which practices using cryptography to convert human-readable information that can only be deciphered by individuals who have the knowledge to.
Validator
A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
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