Node40 Leaves Beta, Claims to Bolster Dash Governance – Altcoins Bitcoin News


Node40 Leaves Beta, Claims to Bolster Dash Governance

Blockchain service provider Node40 has announced the conclusion of its beta phase. The Albany, New York-based company hosts and assists the growing number of Dash Masternodes on the currency’s network.   

Also Read: Needham Downgrades GBTC Rating, But Predicts Bitcoin Rally to $848

Node40: A Masternode Hosting Platform

node40According to Node40, its beta phase has been successful, the company seeing significant business growth since Dash began rising in value this year. Node40’s services have a significant concentration on Dash’s blockchain governance.

The Dash protocol — in addition to its Proof of Work mining reward — pays users to host Masternodes, a “second tier” of the network that is essential to the network’s governance model.

Catering to Masternode hosts, Node40 uses its resources to assist people in setting up and administering Masternodes. The firm says it uses a network of computer hardware and software to help Dash investors receive a passive income.

In line with this revenue stream, the company claims it also helps by securing the cryptocurrency’s network.

“As long as a masternode is capitalized and connected to the network,” said Node40 founder Perry Woodin, “every month the Dash network pays our customers directly.”

Upgraded Interface Will Streamline Masternodes and Dash Portfolios

perry woodin node40
Perry Woodin, Node40 Founder

Woodin also detailed that, after months of development, the company has deployed a new user interface. Additionally, the firm provides step-by-step instructions, a wealth management protocol, and also monitors valuation.

In a month, the company plans to add additional features, such as a “Masternode Portfolio Insight.” Clients will be able to download monthly, quarterly, yearly, and ad-hoc reports of their portfolios.

Node40 said that during 2016, one-year-old customers have seen “triple-digit percentage gains.” Woodin claimed the minimum return has been 61 percent for these clients.

Rewards for owning a Masternode through Node40 can vary.

As well as hosting Masternodes, Node40 users can also participate in Dash’s governance system. The company offers a one-click voting platform for submitted network proposals.

A screenshot of the new Node40 user interface

Can Incentivized Nodes Lead to Digital Governance?

People have questioned the use of incentivized nodes, especially those hosted on centralized servers. Cornell Professor Emin Gün Sirer, for example, has stated in the past that altruistic nodes are a better method of network security.

Bitcoin developer David A. Harding said last year that he disagrees with rewarding nodes due to its vector risks. Harding explained that altruistic node systems offer more security and privacy.

People who’ve questioned incentivized nodes firmly disagree with them being held on centralized servers as well. Faults with this procedure include spoofing, botnets, or third-party server failures crippling the entire network.

However, some people — like Mike Hearn — believed Satoshi saw a future with incentivized Bitcoin nodes.

At press time, there are 4098 Dash nodes. The community has stated that nodes are satisfactorily spread between hosting services.

What do you think about Node40 coming out of beta? Let us know in the comments below.

Source: Press Release

Images via Shutterstock, Node40.

Tags in this story
Governance, masternodes, Node40, Perry Woodin

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Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about the disruptive protocols emerging today.

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