Understanding Bulwark Masternodes
Masternodes are the post-offices of the Bulwark network.
Masternodes receive packages (transactions), check postage (validate them), expedite (SwiftTX), and make sure packages get where they need to go (secure the network). Masternodes receive payments from the network for this work.
Masternodes serve the Bulwark ecosystem by stabilizing coin supply, processing transactions, and securing the network.
In summary, Bulwark masternodes:
- Secure the network by becoming an always-online archival node.
- Give incentives to node holders for keeping them active.
- Comprise the backbone of decentralized governance, which allows a voting mechanism for investors.
Benefits of Running Bulwark Masternodes
Masternodes help you take control of your investment.
Masternodes offer the chance to participate in the project your are invested in. From voting and earning rewards, to securing the network, there are many benefits of operating Bulwark masternodes:
- Vote on governance proposals including budgets.
- Interface with a professional and engaging masternode community.
- Secure the network you are invested in.
- Receive a portion of all minted Bulwark.
- Currently, this is 65% of each block’s reward. Up to date ROI information is available from tracking websites, such as MNO.
Setting Up Bulwark Masternodes
Step 1: Gather Your Collateral
- The required collateral is 5000 BWK
- This can be purchased on any of our listed exchanges, or over-the-counter with Bulwark community members.
- You can also buy less than this, and stake your coins, to eventually have enough for a full Masternode.
Follow these steps to prepare for masternode setup. Prefer video? Here you go:
Step 2: Choose Your Platform
The simplest way to run a masternode is with the Bulwark Secure Home Node. You can also create your own SHN with a Raspberry Pi 3 unit. Alternatively, you can host your masternode with a VPS provider e.g VULTR. For those with multiple masternodes, you can utilize Docker containerized masternodes to speed up the process.
Step 3: Setup the Node
Secure Home Node Installation
We provide simple to use scripts that in only a few clicks will automatically setup your node. For these scripts, please see your SHN’s box or our guide on the Bulwark knowledgebase. These scripts can be audited on our GitHub repository by all.
The VPS you plan to install your masternode on needs to have at least 1GB of RAM and 10GB of free disk space. We do not recommend using servers who do not meet those criteria, and your masternode will not be stable. We also recommend you do not use cloud hosting for your masternode. See our Masternode Installation guide for details.
Docker Masternode Installation
The Docker Masternode Installation guide details the steps for installing and running a Bulwark masternode using Docker. The following setup is assumed:
- Server or KVM VPS running Ubuntu 16.04 or newer
- At least 1GB RAM and 10GB HDD/SSD per masternode
- One IPv4 or IPv6 address per masternode
The video guides you through Dockerized Masternode Containers:
For in-depth information about using Bulwark with Docker, please see this article.
Essential Bulwark Masternode Resources
The masternode setup process is easy for some and foreign to others, so it is important to reach out for help and education along the way in the method that best suits your style. Bulwark has video guides, written guides, scripts, and a responsive support team. Here are the best places to get assistance with Bulwark masternodes:
- Discord Chat
- Repository for Masternode Setup Script
- Bulwark Secure Home Node Software & Installation Guide
- Block Explorer
- Bulwark Stats
More questions? Stop by the Bulwark Discord channel to chat with our team and community.