MasterNode Setup Guide

Setting up a MasterNode have never been easier. See our guide below that includes everything you need to know.

Coins Acquisition

What is needed to own a MasterNode?

RentalChain MasterNode is the pillar of our blockchian infrastructure. It requires initial collateral of 99999 RNL cCoins to have it operational. A node is defined as any computing device (computer, phone, etc.) that is maintaining a network. A masternode is more than just a node, is the second layer of security of the blockchain.

Not every method of earning money from the cryptocurrency market needs to be hands-on. In fact, passive income is an increasingly important part of the ecosystem picture. One of the passive income makers gaining popularity is by becoming a masternode for the RentalChain blockchain. Hosting a masternode can not only be profitable and bring you a good revenue annually; it also contributes to the overall health of the blockchain and decentralization of the communications.

Do you have difficulties in configuring your Masternode?

Check out our community Masternode setup services. Fast. Secure. Reliable.
Full setup with server included.

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Let's get into it

How does it work?

Masternodes, which are also known as bonded validator systems (we’ll stick with masternodes or MN), are servers that provide additional services for the blockchain that can’t be accomplished using Proof-of-Work.

A masternode can be thought of as a “super node” , a touchpoint that keeps a full copy of the blockchain network in real-time. It’s one of many such masternodes on any particular blockchain network.

Masternodes serve an important function for the smooth running of the network, with special functions including increasing the privacy of transactions, maintaining network security, etc. All the masternodes are connected to each other, and it is this that makes the blockchain decentralized. In other words, the integrity of the network is never at risk from one single point of failure. Those owning and maintaining the masternodes get rewarded for doing so because their service maintains the function of the cryptocurrency.

How much do I need?

Great, how do I get a masternode?

The good news is that anyone can have a RentalChain MasterNode. All you need to start is 99999 RNL Coins of the network. The network must maintain its integrity, but also keep the value of itself, so we are the first blockchain limited by the number of masternodes for running and rewarding the community.
The first 30 MasterNodes have GUARANTEED ROI!

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Full Requirements

Here’s what you’ll need to continue:

  • A number of 99999 RNL Coins for the collateral deposit.
  • A stable VPS server on which you host the masternode wallet, and this must be online 24/7.
  • A dedicated IP address
  • Sufficient storage space for the entire blockchain.

By running a masternode you’re a pillar of support that ensures our particular blockchain runs smoothly, transactions go through in double-quick time and everyone is, therefore, happy. But you’re not going to put in that expense and time for nothing.

So you effectively get paid, in gold, real gold.

Other cryptocurrencies have different ways of rewarding their masternode operators. And the best bit is, once you’ve done the initial legwork, you can sit back and do very little. It’s a cool passive income or coins you can make while you sleep. The reward is paid for every validated block, the first 30 MasterNodes have Guaranteed ROI.

Operating The MasterNode

How long do I operate the MasterNode?

While your masternode is active, your RNL collateral is ‘locked’ meaning you can’t access them for any other purpose, like making purchases or simply using them for blockchain services such as e-mail or chat. If you want to stop hosting your masternode, you can do so, but only after 6 months from the moment, you placed the exact amount of RNL coins in a wallet. After 6 months, there is a few days window when you can move your coins and use them after for any other purpose.

If you purchased the initially required collateral to set up a masternode, we are here to share with you the technical skill to do so (there is also our intuitive guide available), then it could be a great opportunity for you.

Hardware Requirements

Hosting Requirements

What do you need to do to host a RentalChain Masternode?

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Ubuntu 18.04.1 LTS

+ KVM or OpenVZ (KVM preffered)

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2 Core x64 CPU w/SEE

(4 Core Recommended)

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4GB+ RAM

(8GB+ Recommended) 4GB Swap File if under 8GB

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80GB+ SSD Hard Disk

(100GB+ Recommended)

Software Requirements

Installation

Would you like to learn more about how to setup a RentalChain Masternode? Check out our official guide which includes an easy-to-use install script, or join our Discord below.

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Buy RNL Coins

+ KVM or OpenVZ (KVM preffered)

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Get a Server

(4 Core Recommended)

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Install Wallet

(8GB+ Recommended) 4GB Swap File if under 8GB

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Send RNL

(100GB+ Recommended)

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Get Rewarded

(100GB+ Recoffmmended)

Our Project

RentalChain Video Project

Click below to watch a full video of the RentalChain Project.

Installation

Single masternode on Linux VPS + cold control wallet on local PC

This guide is for a single masternode, on a Ubuntu 16.04 64bit or on Ubuntu 18.04 64bit server and will be controlled from the wallet on your local computer.


First the basic requirements:


99999(masternode collateral + fees) RNL


A main computer(Your everyday computer)


Masternode Server(The computer that will be on 24/7)


A unique IP address on masternode server for EACH masternode The basic reasoning for these requirements is that you get to keep your RNL in your local wallet and host your masternode remotely, securely. For this guide, I’m going to refer to your main computer’s wallet as the main wallet, and the masternode wallet as the masternode wallet.

I. Deploy VPS and configuration

Get a VPS server with min. 1GB RAM and Ubuntu 16.04 or Ubuntu 18.04 as operating system

Get PUTTY for your operating system from https://www.putty.org

Always use mouse selection for COPY text from PUTTY to WINDOWS

Always use right button click for PASTE text in PUTTY from WINDOWS

RUN script bellow(select from below, COPY, PASTE in Putty and press ENTER): wget -qO- https://bitbucket.org/rentchain/rnl-core/downloads/rnl_installer.sh | bash (It may take 2-3 minutes. It will automatically install and configure masternode wallet for your masternode server!)

Note VPS_IP:PORT and Masternode Privatekey(this will be the masternode’s privkey) in Notepad(text file)! - We’ll use this later…

II. Install main wallet and configuration

Unpack it and launch RNL-qt.exe

Select "Use a custom data directory" and use D:\RNL\data as folder

SETTINGS -> OPTIONS -> WALLET and check "Show Masternodes Tab". Press OK and restart main wallet

TOOLS -> DEBUG CONSOLE and type the following command: getaccountaddress mn1

Send 99999.00 RNL* to this address.(Make sure this is 100% only 99999.00; No less, no more.) and wait for 15 confirmations

*Due to the technical solution which RNL relies, the amount of 99999.00 RNL must be sent ONLY to Masternode address! Please do NOT send this amount to exchanges or to any other address, as it will be locked for six months!!!

Still in the main wallet, enter the command into the console: masternode outputs (This gets the proof of transaction of sending 99999.00)

Still on the main computer, go into the RNL data directory(D:\RNL\data) Find masternode.conf and add the following line to it:



Substitute it with your own values and without the “<>”s

Example:
mn1 10.10.10.10:47002 6Kwq6EnAGtj6aNCo29XaQs8LQTE9oSsnBenH7ymHiZmLX2h7v4g e629899c90494cf2a0b8935bece819480db0749b59e0d65ffb55c9bffaed5f99 1 Still on the main computer, in same folder , open the RNL.conf file. Make it look like this:
rpcuser=RandomUsernameOnlyAlphabeticWithoutSymbolsAndSpaces
rpcpassword=RandomPasswordOnlyAlphabeticWithoutSymbolsAndSpaces
rpcallowip=127.0.0.1
listen=0
server=1
daemon=1
Make sure to replace RandomUsernameOnlyAlphabeticWithoutSymbolsAndSpaces and RandomPasswordOnlyAlphabeticWithoutSymbolsAndSpaces with your own.

Save it, close and restart the main wallet. Wait for full sync.

Masternodes tab -> Start all

Congratulations!

You have successfully created your masternode!

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More INFO

Rewards and rules

Masternode owners must deposit 99999 RNL to run a masternode. Each masternode also hosts a full copy of the blockchain in real-time alongside a full copy of the ledger, allowing the masternode to feed a secondary-level of services over a network and facilitate more advanced functions, like carrying out specific tasks related to block validation. For this, the owner will be rewarded with interest each year with an amount RNL Coins. The rewards will start to be paid immediately.

Once you made the collateral deposit, the coins will be deposited for the next 6 months, and you will be able to move them on a few days time frame after the expiration of the locking time. If you choose not to move them, the renew of the masternode will be done automatically by the blockchain. You must be very careful when you make regular transactions over the RNL blockchain because if you send by mistake the exact amount of 99999 RNL on a wallet, those coins will be automatically locked for the next 6 months, and one masternode wallet will be created using them.