Guide To Set Up XinFin Master Node

XinFin offers the first and only genuinely One-Click Masternode deployment. Our Masternode One-Click Installer has been heralded by many as the easiest solution for setting up a Masternode and earning XDC.

You can download the latest 64-bit stable release of XinFin One-Click Installer for our primary platforms below. Packages for all supported platforms, as well as development builds, can be found further down the page.

About XinFin Masternode

XinFin's token XDC supplants the proof-of-work consensus algorithm (popularly linked with mining) with a proof-of-stake consensus algorithm, fundamentally using the concept of "validators".

Validators are special nodes used in the XDPoS consensus algorithm which validate each transaction occurring on the blockchain network. The result of this validation is to finally append the transaction on the blockchain. A transaction may be accepted by the validator or rejected. (Important: There can be multiple validator nodes in each network.)

Decisions made by these validator nodes are broadcasted through the network as messages which are signed (attested) using a validated cryptographic public key. Every validator node running XDC protocol in the RCL network is responsible for deciding its Unique Node List (UNL). This list holds information about which regular nodes does the validator care about.

To set up a Masternode, make sure your XDC protocol running node is publicly identified and has gone through the compliance process. Every Node Holder needs to upload a KYC document and this detail will be visible to the public network.

Why set up a Masternode at all?

It is necessary to set up a Masternode to operate on XDC protocol because Masternodes make the decentralized blockchain network self-sustainable. Deploying Masternode is conducive to trusted, scalable decentralized network infrastructure. Such an environment facilitates greater stability and reliability on the network.

Functions of Masternode

In the XDPoS blockchain environment, the Masternode concept is cardinal to the functioning. A Masternode validates each (or segment of the transaction depending upon UNL) transaction and is also responsible for writing the transaction onto the truth ledger: the blockchain. As a consequence, this makes decentralized governance of the network possible.

Restrictions on nodes that aspire to become Masternodes

Nodes that possess any of the below-mentioned characteristics may not qualify to become Masternodes:

  • An anonymous entity on the network.
  • Intentions to fork XDC Software.
  • Entity or Individual with Criminal record in past.
  • Entity or Individual which does not comply with local law of land.

Incentives to set up your own Masternode

Several reasons why setting up a Masternode is useful are:

  • Reputation building within the network community.
  • Trust Factor enhances your node particularly since the network relies on your node.
  • More Incentive gain as your node pushes more transactions on the network.
  • A private blockchain is capable of running its own use case.

Important: Max number of Master nodes allowed in the network is 5000.

Special incentives for the 18th validator node: Information required Depends on No's of Block created by the validator node (incentive In terms of XDC)

Reward Cycle: Every Epoch.

Before You Begin

This guide will demonstrate how to set up a single Masternode for the very first time. You will need the following before starting:

  1. At least 10,000,000 XDC with Masternode holder to perform proof-of-stake consensus seamlessly.
  2. Wallet to store XDC tokens, preferably hardware.
  3. Dedicated and stable hardware environment.
  4. Dedicated Static Public IP address.
  5. 100% network uptime by IDC network.
  6. Minimum tier 3+ IDC environment.
  7. (Optional, but highly recommended) Virtual Private Server (VPS).
  8. For cloud-based services, Amazon EC2's m3.large VM size would be appropriate. A similar configuration is applicable for the Microsoft Azure Cloud network.

Troubleshooting

If you are having problems with Setup, the first step is to collect more information to accurately characterize the problem. From there, it can be easier to figure out a root cause and a fix.

METHOD 2: Delegate Masternode set up to third party service provider

Set up your Masternode using one of these 3rd party Masternode service providers.

DISCLAIMER: This list is provided for informational purposes only. Services listed here have not been evaluated or endorsed by XinFin and no guarantees are made as to the accuracy of this information. Please exercise discretion when using third-party services.

List of service provider to Setup Masternode

  1. IndSoft.net
    • IPv6 and tor Supported
    • Global geographical locations
    • Fully Managed Network
    • Network attack prevention (DDoS)
    • One time Setup Cost: Free
    • Monthly: 55 USD (pay in Paypal, debit, or credit card)

Are you a Provider?

If yes, then Contact us to List your service.

Masternode Tools

Where to operate? MainNet vs TestNet:

In XinFin, there are two networks where you can run XDC protocol: the MainNet and the TestNet.

The MainNet is used to transact real XDC. The XDC's value is tied to real fiat currency via cryptocurrency exchanges.

As a developer, you do not want to run application tests with real money. That is what the TestNet is for. We call the TestNet XinFin TestNet.

Download XinFin One-Click Installer (to setup Masternode) for Windows and Linux

Windows (64-bit)

Linux

MacOS

Video to Setup Masternode with just one Click

XDC Comparison Chart

Comparison Chart XDC Bitcoin Ethereum Dash
Maximum Supply 37.5 Billion 21 Million 100 Million 18.9 Million
Algorithm XDPoS SHA256 PoW EVM X11 PoW
Block Interval 2 sec 10 minutes 15 sec 2.5 minutes
KYC Compliance Yes No No No
TPS 2000+ 9 15 56
Privacy Yes No No PrivateSend - Has privacy issues
Instant TX Yes No Yes Yes
Masternode Yield 8 - 12 % No - ~6.3%
Premine 37.5 Billion XDC 1 Million BTC 12 Million ETH 2 Million Dash

This guide will cater to the following system configurations:

Operating System

CentOS or RedHat Enterprise Linux (latest release) or Ubuntu (15.04+) supported

Development

Windows (64-bit) or most Linux distributions

CPU

64-bit x86_64, 2+ cores

Disk

Minimum 300GB SSD recommended (500+ IOPS, more is better) for the database partition

RAM

32 GB

Hands-on guide: How to Setup Masternode

There are two methods to choose from to set up the Masternode:

  1. DIY Masternode environment set up
  2. Delegate Masternode set up to third party service provider

METHOD 1: DIY Masternode environment set up

CentOS or RedHat Enterprise Linux (latest release) or Ubuntu (15.04+) supported

Clone repository

git clone https://github.com/XinFinOrg/XinFin-Node.git

Enter XinFin-Node directory

cd XinFin-Node

Step 1: Install docker & docker-compose

sudo ./install_docker.sh

Step 2: Update .env file with details

cp env.example .env
nano .env

Step 3: Start your Node

Run:

sudo docker-compose -f docker-services.yml up -d

Your Coinbase address can be found in xdcchain/coinbase.txt file.

To stop the node or if you encounter any issues use:

sudo docker-compose -f docker-services.yml down

Upgrade

To upgrade please use the following commands

sudo docker-compose -f docker-services.yml down
sudo ./upgrade.sh
sudo docker-compose -f docker-services.yml up -d

Troubleshooting

If you are having problems with Setup, the first step is to collect more information to accurately characterize the problem. From there, it can be easier to figure out a root cause and a fix.

METHOD 2: Delegate Masternode set up to third party service provider

Set up your Masternode using one of these 3rd party Masternode service providers.

DISCLAIMER: This list is provided for informational purposes only. Services listed here have not been evaluated or endorsed by XinFin and no guarantees are made as to the accuracy of this information. Please exercise discretion when using third-party services.

List of the service provider to Setup Masternode

  1. IndSoft.net
    • IPv6 and tor Supported
    • Global geographical locations
    • Fully Managed Network
    • Network attack prevention (DDoS)
    • One time Setup Cost: Free
    • Monthly: 250 USD (pay in XDC, Paypal, debit, or credit card)

XinfIn (XDPoS)

You can set up master on windows server with one click installer or using docker-compose file for more details please visit XinFin Masternode setup page.

No, it's not necessary to run a Masternode on the server but we recommended hosting the Masternode on the server. Setting Up Masternode by staking coin gives the opportunity to mint additional coin as validators rewards.

Yes, you can run the Masternode on your Local machine but your node must have 100% uptime and must have a facing direct internet connection.

You can run as many Masternode you want to run at one time. But there are various conditions to run Masternode like for more details visit XinFin Maternode Setup page to learn about their requirements.

Coinbase address is the Masternode address and Masternode owner address is the address of wallet which you have proposed 10 million XDC.

The rewards will be received on the wallet which is the Masternode owner's address.

Rewards are distributed to Masternode owner after every epoch.

It takes around 50 minutes to complete 1 epoch.

Rewards for the Masternode come approx 10 %pa rewards for running Masternode. If the number of Masternode increases, the rewards will be reduced.

108 Masternode are selected randomly with a round-robin algorithm.

Currently, the Xinfin Network supports 2000+ tps.

It takes 2 seconds to mine a block on XinFin Network.

XDC wallet can be stored on XinFin web Wallet, XinFin E-wallet ( XinPay), or XDC Android Wallet .

For now, XinFin doesn't support hardware wallets but it will support them soon.

No, you can not store your token on the Masternode address on XinFin Network.

Yes, it is necessary to take the backup of your Coinbase address.

If you lost your Coinbase address your node will be down and you need to resign from the Masternode.

All your funds will get the lock and you will not be able to receive rewards and your 10 million XDC will also get lost. So it's always advisable to backup your Keystore.

XinFin Network is decentralized and no central place to store data so there is no chance to recover your token.

Yes, you can deploy your smart contract on the XinFin Betwork with remix or web wallet.

Yes, the XinFin Network is Ethereum compatible, so you can deploy any smart contract on XinFin Network.

Yes, you can create your own token on the XinFin Network with MyContract.
Read: How to Deploy own token on XinFin Network

XinFin Web Wallet

The recommended way to access the wallet is with Keystore.

Below your address just click on the print button you will find your private key.

For now, XinFin doesn't support hardware wallet support but it's under development and it will support soon.

As the Mnemonic phase doesn't support a private key so you will not get a private key.

The recommended way to access the wallet is with Keystore.

Yes, you can deploy your token on the XinFin network with a web wallet.

Yes, XinFin web wallet supports offline access.

The default gas price for a transaction is 0.00021 XDC.

The default gas price used for deploying Smart Contract on the XinFin network is 0.00021 XDC.

XinFin Masternode App

You need to login Masternode app with your web wallet private key.

Yes, it is compulsory to upload a KYC.

It is compulsory to upload KYC in pdf format.

The format for uploading KYC can be found on the Masternode app just click on a become candidate you will find the format.

Coinbase address is your Masternode address.

If the user uploads the wrong KYC 10 Million XDC token will get locked and his account will be resigned.

If the user resign from Masternode it takes 30 days to get your 10 Million XDC.

Please check your node is down so you can see your node is slashed.

It will check for 3 epochs and after that, you will become a Masternode.

You can see your rewards on your Masternode owner address or XinFin explorer.

All your tokens will be locked. So we always say to back up your private key.

The recommended way to access the wallet is with Keystore.

Important Links:

Follow XinFin on :