What is a masternode?
Masternodes are a feature of newer generation cryptocurrencies, whereby those with holdings meeting a minimum requirement (e.g. 1000 DASH) are able to commit those funds to perform work for the network, verifying transactions, in return for regular rewards.
They are a series of servers that underpin a blockchain’s network and are responsible for processing specific functions, such as creating block and ledger records, increasing transactional privacy, enabling a decentralized governance system, and more.
Masternodes were first introduced by Dash in 2015. Dash is an open source peer-to-peer transaction coin and is the most established cryptocurrency with functioning masternodes, with a market cap of ~$1.6bn.
Spirit currently operates Horizen Securenode (ZEN-42) nodes.