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The Crown Platform uses highly secure servers called “nodes” to host user applications, facilitate CRW payments and provide cryptographic proof of data integrity. By creating and running one of these servers, you can help our community grow while consistently earning Crown tokens as a reward.
Nodes are dedicated servers that connect to a blockchain network. These nodes can benefit the parent network by hosting applications, validating cryptocurrency transactions and enabling the blockchain to act as an instant payment service. By utilizing thousands of nodes to validate blockchain entries, application platforms like Crown become virtually impossible to manipulate or “game.” Nodes complete many vital functions for the network at large, but their most important role is to provide peerless security.
Crown Proof of Stake Consensus System [MNPoS]Crown uses two primary types of nodes to build and protect its network—Systemnodes and Masternodes. Each of these dedicated servers are unique and provide vital infrastructure. Here’s a brief description of each:
Crown nodes act as a home for various application services created by blockchain users. Members of the community can use these servers to host any legal economy application.
Crown nodes are capable of carrying out “InstantX,” an incredibly fast form of transaction. This feature allows Crown users to instantly send or receive CRW when transacting with others.
Crown nodes work in unison to help verify all CRW transactions. This collaborative approach ensures that the network is kept secure even if a node operator attempts to manipulate it.
Crown Masternodes are dedicated servers that provide continuous security services and additional functionality to the network. These nodes supply substantial computing power to the Crown Platform, and have copies of the ledger stored and ready to distribute to the network if needed. Think of Masternodes as the stabilizing force behind Crown; they help us keep the network secure and running smoothly by tracking the ledger and confirming transactions at lightning speed with InstantX. A Masternode requires 10,000 CRW collateral to run.
One of the central reasons to run a Masternode is that you receive a vote in the Decentralized Governance Proposal System (DGPS) for each one you own. Moreover, as the operator of a Masternode, you receive 45% of each Crown block reward. These payments enable you to quickly amass Crown tokens to trade or spend on real-life goods and services! A Masternode can be hosted on any PC with an uninterrupted internet connection with 512 MB of RAM and 20 GB of hard disk (VPS Recommended).
Crown Systemnodes are empty-shell servers that are tasked with hosting specific services for the Crown network other than transaction verification. The Crown Platform will use Systemnodes to host new economy applications created by members of the community, connecting them to the Crown Platform through an API (application program interface). Unlike Masternodes, Systemnodes are highly flexible and will act as an interface between users/businesses and the blockchain. A Systemnode requires 500 CRW collateral to run.
As of now, Systemnode owners do not receive a vote in the DGPS. However, as the operator of a Systemnode, you still earn a substantial portion (10%) of each Crown block reward for your service in maintaining the network. Systemnodes require significantly less CRW than Masternodes, making them easier and less expensive to set up. A Systemnode can be hosted on any PC with an uninterrupted internet connection with 512 MB of RAM and 20 GB of hard disk (VPS Recommended).
Regardless of which Crown node you want to run, the setup process is very straightforward and almost identical. In fact, it’s so simple that we’ve broken it down into just four basic steps.
Before establishing a Crown node, you’ll need to put up either 500 or 10,000 CRW as collateral. You can easily purchase CRW tokens through an exchange using conventional fiat money or cryptocurrency, such as bitcoins. Also, bear in mind that you will need to install the free Crown wallet software to store and protect your CRW before investing it in a node.
To operate a Crown node, you will need to set up a VPS (virtual private server). We recommend looking into a partner like NodeSupply, Node-VPS, CrownVPS, NodeHub because they can host your node for only a few dollars each month and automatically update to the newest Crown protocol. However, it is possible to rent your own VPS as well.
Once you have a virtual private server, you will need to run the Crown Wallet. Once you have gone through the installation process, the VPS will be tied directly to your Crown wallet through a remote, and CRW tokens will automatically be added to it as it runs.
Now that your Crown node is up and running, all you have to do is maintain it and enjoy your well-earned CRW! Our nodes do not require operator input to run, so all you have to worry about is ensuring that your machine’s internet, parts and electricity supply aren’t compromised. It’s as simple as that.