GINcoin the turnkey masternode coin
GINcoin Overview GINcoin, with its GUI-based Masternode deployment platform enables crypto investors to set up their own Masternodes regardless of their technical skills and experience in working with servers and programming languages.
Foreword About GINcoin, cryptocurrencies and Masternodes
Foreword What is a cryptocurrency? What are Masternodes? A cryptocurrency or crypto currency is a digital asset From a technical point of view, a masternode is a designed to work as a medium of exchange. computer server with a publicly available IP address. Cryptocurrencies use cryptography hence the name A Masternode is simply a cryptocurrency full node or to secure transactions, control the creation of computer wallet that keeps the full copy of the additional units, and verify the transfer of assets. blockchain in real-time. The control mechanisms of cryptocurrencies are Masternodes are active members in a coin’s decentralized and managed through a blockchain a transaction network that meet certain criteria, the form of public transaction database that works as a most important of which is a set amount of collateral distributed ledger. capital locked in a dedicated wallet. The decentralisation aspect is what sets them apart the most from most other types of currencies especially fiat currencies .
Foreword - What are Masternodes? Wallets Similarities to savings Nodes vs Masternodes accounts Throughout their short history, Masternodes are considerably There are types of wallets that masternodes have been compared different in their functionality than can be used: to savings accounts - they play an normal nodes. ◎ Hot wallets important role in the coin network Apart from keeping a copy of the Hot wallets are stored on the and those who create and full blockchain in real-time and server itself and are connected to maintain them get rewarded for relaying blocks/transactions, just the internet. This makes them their efforts - much like a bank like a full node does on the Bitcoin more susceptible to being broken offers savings with varying interest network, Masternodes fulfill other into than cold wallets. rates to encourage people to hold functions as well: their money with it. ◎ Cold wallets ◎ Increase the privacy of If a wallet is stored on a computer transactions that’s not always connected to the ◎ Enable users to instantly internet or on a storage device like send funds to one another the Ledger Nano ◎ Participate in governance/ voting ◎ Some serve the role of a treasury in some coin networks
Foreword - Why are Masternodes good for Crypto? Increased decentralisation Decreased energy costs Better security Through the functions mentioned On top of all of this, Masternodes Because Masternodes require above, Masternodes ensure are useful because they capital to be deployed, their cryptocurrencies remain as compensate for proof of work’s owners are directly interested in decentralised as possible, POW limitations and ensure a keeping the network as secure as counterbalancing the inherent network’s security with much possible. As such, Masternodes are centralisation mining pools lower energy costs. In a sense, a designed to keep miners in line - introduce. At the same time, POW-based coin that supports for instance, Dash Masternodes Masternodes help increase the Masternodes is a mixed breed keep a close eye on the POW scalability of the network and can between a pure POW one and a network the miners and reject/ be used as a means of voting on a POS proof of stake coin. orphan blocks if they don’t match coin’s developmental decisions - the current version of Dash or if much like what happens in your they detect reward tampering. usual corporation when shareholders are asked to weigh in on policy or direction changes.
State of affairs Market caps & growing interest
State of affairs - market status and size After a bumpy start of the year, the cryptocurrency market sits at USD , , , according to CoinMarketCap.
State of affairs - market status and size (Masternode-ready coins) At the time of writing, MasterNodes.online estimates placed the total worth of existing MasterNodes around USD , , , and a marketcap of USD , , , after a very recent drop of roughly %.
State of affairs - interest in Masternodes At the time of writing, MasterNodes.online estimates placed the total worth of existing MasterNodes around USD , , , and a marketcap of USD , , , after a very recent drop of roughly %.
The problem(s) Masternodes and people are complex machines
The problem(s) GINcoin aims to solve two big issues that are currently The two problems force investors to rely on Shared holding Masternode coins back and impeding their Masternode groups and schemes, usually lead by a rightful ascent: developer willing to do the work in exchange for a share of the Masternode or its generated rewards . This forces a trustless-system to work in a . Deploying and running a Masternode requires trust-dependent way, and not few are the cases where significant technology know-how: ill-intentioned individuals scam investors and keep the a. Deep understanding of the blockchain collateral for themselves. b. Launching & maintaining a server c. Setting up of masternode software . Setting up a Masternode requires considerable financial efforts and, as detailed below, trust
GINcoin Trustless, Codeless Masternode Deployment
GINcoin - Trustless, Codeless Masternode Deployment Overview Masternodes PrivateSend GINcoin was built as a direct Similar to Dash, GINcoin uses a At its core, PrivateSend is a service consequence of the problems two-tiered network - miners, the that mixes users coins with others’ stated before. With its GUI-based first tier, handle creating new coins before sending them to a Masternode setup, the only hurdle blocks, whereas the PrivateSend, wallet, to ensure their anonymity. investors may be faced with when InstantSend and Governance It is based on CoinJoin, to which it looking to own a Masternode functions are handled by the adds multiple modifications such remains the financial one - second tier network made up of as relying on masternodes rather securing enough collateral to Masternodes. than on a single website, chaining actually deploy the node. However, by mixing with multiple not even that will remain a valid masternodes and restricting the problem for much longer - our Masternodes require , GIN as mixing to only accept certain roadmap includes shared collateral to prevent sybil attacks denominations, and passive mode. Masternode support for all partner wherein a peer-to-peer network’s The maximum allowed for a coins. reputation system is compromised PrivateSend transaction is by entities with forged identities . GIN just like with Dash . The collateral can be spent at any GINcoin is a peer-to-peer time, but that subsequently cryptocurrency that, on top of eliminates the masternode from Bitcoin's features, supports instant the network. transactions InstantSend , private transactions PrivateSend and Masternodes. It is based on Dash.
GINcoin - Trustless, Codeless Masternode Deployment InstantSend Blockchain technical information Reliant on the Masternode network, InstantSend is allows for near-instant transactions - through it, inputs Mining algo. Neoscrypt ASIC can be locked to specific transactions and verified by resistant consensus of the masternode network. Conflicting Block time min transactions and blocks are rejected. If a consensus cannot be reached, validation of the transaction Block reward GIN % MasterNodes / % occurs through standard block confirmation. miners InstantSend solves the double-spending problem without the longer confirmation times of other Masternode collateral , GIN cryptocurrencies e,g,: Bitcoin . Total supply . M GIN
GINcoin - Trustless, Codeless Masternode Deployment A GUI-based Masternode Deployment Platform The coin itself is a close sibling of Dash’s. Where GINcoin truly shines is its codeless masternode deployment platform. The platform itself is web-based and relies on open source technologies such as Docker, Kubernetes, Node.js, Angular.js and Linux. Setting up a Masternode is simple and straightforward, as shown in the screenshots below, which cover the first two steps.
Internal economy Self-sustaining Beneficial to other coins The coin itself will derive value from the platform that As such, GIN not only relies on other it maintains. Aside from free trades on exchanges, GIN Masternode-compatible coins, but also helps them will be used by our community to cover: grow faster by enabling investors from all walks of life to create, maintain and invest in Masternodes. ◎ Masternode hosting fees ◎ Masternode setup fees ◎ Shared masternode setup fees
Roadmap for GIN your masternode assistant Just weeks after its official launch, GINcoin has already covered most of its core-features roadmap.
1. GINcoin Masternodes ✔ The GIN network is the first implementing our one-click masternode setup technology Feb 8
2. Platform and User Interface ✔ Online graphical UI for creating, managing and monitoring MNs for the different supported coins. Mar 8
3. 3rd party Masternodes ✔ Other blockchains with masternode technology will be welcomed on-board Mar 8
4. Daily Rollouts Start of Daily rollouts of new Masternode coins Mar 8
5. Shared Masternode support Platform support for shared masternodes setup facilitating participation in expensive masternodes e.g. Dash Aug 8
Our Mission & Vision GINcoin aims to provide cryptocurrency investors with an easy way of creating and deploying their own masternode s - regardless of their technical abilities. Our ultimate goal is to democratise the way masternodes are created and, as an effect, prove crypto is here to stay - by making it more secure and more user-friendly than paper money.
Let’s do this! You can find us on: ◎ [email protected] ◎ https://discord.gg/RTgVNxR ◎ https://twitter.com/gincoin_crypto