Top 5 Areas Where You Can Apply Blockchain

Top 5 Areas Where You Can Apply Blockchain

If you’re reading this, it will probably mean you are part of the revolution, or you are about to go down the rabbit hole. Within the blockchain community, there are many people that have been calling for the revolution for years. People have been speculating about all the industries that will be disrupted with the use of blockchain.

In 2017 we have seen dozens of companies raise from the grounds that all promised to disrupt each and every industry. We have seen people promising to bring blockchain to the dental industry, pets industry and whatever other industry you might think of. In some cases though, it does work. We will look at the top 5 of the areas where the application of blockchain technology actually makes sense.

5. Real Estate

Within the trade of  real estate, or in fact any estate, it’s always important to have all your documentation in check. The moment a transfer is made, from one owner to the other, the name on the documents changes and the owner of the property changes as well. In most cases, this all goes like it’s supposed to, but sometimes it can go wrong. We have seen it happen before where people claim to be the rightful owner of a property that belongs to someone else. Both parties claim to have the proper documentation but no one know which party is lying and which party speaks the truth.

Blockchain can solve this problem by simply offering the option to verify any transaction. A notary office can use blockchain technology to verify the documents and the ownership of the property will be recorded on the blockchain. At the moment of a transaction, the people that own the property will be able to back up their claims with the use of the blockchain.

4. Politics

One thing that history can teach us, is the fact that things don’t always go the right way. Within politics, it can go extremely wrong whenever there’s one person in charge of a country, where usually this person wishes to stay in charge for a long time. To battle the competition but not to raise any suspicions, the person will simply rig the voting mechanism to stay ahead of the competition.

We have seen it happen before in underdeveloped countries where the same leader will stay at power for many years because this person has full control over the votes. With blockchain technology, each vote will be recorded and verified on the blockchain. Any vote will be recorded on the blockchain, making it impossible to alter the result of the votes. In this case, the real winner of the election will come out of the race, not the one that has the most power at that point.

3. Legal Industry

As we have mentioned earlier in this article, blockchain works perfectly with verifying documents. The real estate industry is just an example of how that would work, but we can take it up a notch. In the legal industry right now, there are fortunes being made off forged documents by fraudulent parties. To battle this, blockchain technology can serve as the middle-man that trusts no one. It can simply be the person that checks each and every document to see if things went fair. Just some examples of where we can apply blockchain to make sure things go as is fair;

  • The inheritance of property and wealth by means of a will
  • The documentation of legal cases in criminal procedures
  • Documentation of employee contracts in case of any disputes

We make contracts in order to stay ahead of any disputes, but sometimes this is not enough. Contracts can still be altered when they are not verified properly. The use of blockchain can create an ecosystem where contracts can not be altered.

2. Logistics

This is one of the industries that is betting big on the implementation of blockchain. In the logistics sector, every single detail is being documented to make sure that everything goes according to the plan. It might sound simple, you want to get a product from place A to B, but in between, there’s a whole process. The product is being made in a factory, then it’s brought to a warehouse for storage until an order is placed by a buying party. Then, the product goes onto a ship, plane or truck to be brought over to the party that bought the products. From that moment, the product will be shipped to the consumer.

This is a complicated process that involves many different parties. The moment something goes wrong, everyone starts pointing fingers at each other. In reality, nobody knows where it went wrong. The moment you start using blockchain technology to verify each step in the process, you know immediately whenever something went wrong, and where it went wrong. No more lost packages, wrongfully packaged products, wrong deliveries or extra illegal cargo on board of container ships. 

1. Banking

The industry that has been getting disrupted for many years since the invention of Bitcoin, is the banking industry. It’s an industry that needed some shaking up after the 2008 crisis. We saw people unable to reach their money in Cyprus and because of that, an alternative to the traditional system was created. Bitcoin and the technology that came with it makes it possible for people to have full control over their own money, not the banks. Let’s have a look at some of the benefits;

  • Full control over your own money
  • Borderless transactions in a matter of seconds
  • Very low transaction fees
  • A currency that can not be affected by inflation

There you have it, the benefits of blockchain technology. It can bring a lot to many industries, we just have to open up our arms and welcome the technology.


What can you do when holding your tokens?

What Can You Do When Holding Your Tokens?

Anyone that has been around for a while has seen the prices of many coins go up and down. A conservative trader might not trust the cryptocurrency industry and will not find it a suitable asset class to invest in, but many of the younger generations saw the fortunes coming their way. In reality, loads of people did profit from this new industry but others have lost quite some money over time. The thing is, if you don’t sell it’s not considered a loss, right? There are a lot of people who have invested big amounts into projects that have turned out to decrease in terms of price. That moment you either sell all your tokens for a big loss or you hold the tokens in the hope that the price will gradually increase over time. In the second option, there are some opportunities to benefit from the fact that you’re holding the tokens. You do not have to simply hold them in a wallet and wait, there are more options. 

Staking

The first option you have is staking. It totally depends on what kind of project you are supporting, but nowadays many projects offer the opportunity to stake your tokens with a financial reward as a return. They do this as their network is built using the Proof-Of-Stake mechanism, having these coins partake in the process of verifying transactions and securing the network. The easiest way of staking is by simply depositing your tokens into a wallet and the rest is done by the network. With others, you should deposit your tokens into a specific smart contract that will then have your tokens locked up for a set period of time. The returns can be pretty good, totally depending on what project you support. 

Some numbers say there is over 7 billion in token value being staked right now as of today, that’s around 5% of the total market cap the entire industry holds. That’s big, but it’s easy to understand with an average rewards rate of up to 12.5% for a dozen different projects.

Lending

In the case of staking, you basically let the network use your tokens in order to keep functioning. With lending, most of the time you lend your tokens to other people that want to use your tokens. There are several forms of lending that can be done, both varying in complexity and the amounts of rewards.

Marginal lending

Have you ever heard about margin trading? It’s simply trading with funds you do not possess. Let’s say you have $1000, but you are so confident about the trade you are about to make, you would like to add a little extra money to it. Then, you can choose to increase your position by using a margin. In some cases, these marginal options go up to 125 times the amount that you own yourself. So in the example, you would put $1000 on the line to then be able to trade with $125,000. The money that you are trading with that is not yours, is coming from someone else. That’s where lending comes in. This person gets a reward for letting you use their funds in order to make your desired trade. Do note, the moment you do margin trading, there’s always a risk of losing your entire position. In this case, you buy a position of a trade, you do not own the asset that you are trading on. 

Lending in the name of the word

As we all know, in this world you can loan money from other people or institutions if you do not have the money yourself. In the traditional world, this usually goes through banks. As we operate in an ecosystem that is building an alternative to banks, the loan-industry is actively being utilized in the cryptocurrency industry. There’s the option to loan FIAT currencies by putting your cryptocurrency up as collateral, or the other way around. It’s also possible to do peer-to-peer lending through several platforms. This industry is big and it’s growing even. With the use of smart contracts, there is no need to trust the other party, the contract does it all it has to do, no middleman required. When you are the one that is loaning the funds, you can earn some money with the interest the person who loans has to re-pay you. 

Social Mining

A couple of months ago a new concept was introduced in the cryptocurrency industry. We have seen before that lots of projects are dependant on the performance of their social media channels. The community plays a big role in the marketing of a project in a positive or negative way. Social mining has found the perfect way of putting your community to good use and rewarding them at the same time for the hard work. All you need to do is put up a number of tokens into the social mining platform and start generating content. After that, the other users of the platform can upvote your content and every set period, rewards are paid out to all the contributors on the platform. 

Some successful and upcoming projects like Elrond, Ferrum, LTO, and 2Key have integrated Social Mining as a way to boost the activity of their community. When searching for these projects, you will find loads of community-generated content from translations to memes to entire reviews. It’s impressive to see what a community can do in order to boost a project. 

Masternodes

The alternative to all of the options above is running a masternode. In this case, you’re basically staking your tokens but at the same time, you are a core part of the network. By running a server and dedicating RAM memory, bandwidth, and processing power to the network you’re supporting the network. You keep it stable, keep it secure and decentralized. This does come at a price. There is usually a big investment required before you can start your own masternode. For some projects, this investment is a couple of hundred dollars, but big projects like DASH, require an investment of close to $70,000. In return, you do get some big rewards that can go all the way up to thousands of dollars per year. It’s the most complex and expensive way of putting your coins to work for you, but in most cases, it is the option that brings the biggest rewards.

As you can see, there are many ways of putting your coins to work for you. You can earn some passive income by doing so. Whatever you choose to do, always make sure that you do some proper research before you decide to loan out your tokens, stake them in a smartcontract or initiate a masternode. All these options require some thoughtful decisions to be made and a general dedication to the project of your choice. Be aware that in some cases you take away the opportunity for yourself to sell your tokens whenever you want, you might be stuck in a smart contract that does not allow you to do anything with them for a long period of time. So whatever you do, always do your research first.


A description of what masternodes are, how you can benefit from them and how you set up your own masternode

Masternode. A Guide for Beginners.

If you have been active in the blockchain industry for a while now, it’s quite possible you have heard the terms ‘mining’ and ‘nodes’ before. These are the two parts of the core technology behind a blockchain. A blockchain is basically a huge network consisting of many different nodes with miners contributing to these nodes. The miners get a financial reward for contributing to the network, whereas in some cases nodes do not. This changes however when we start speaking about masternodes, a simple variation that many projects have introduced in order to stabilize and secure their network. There is financial compensation for running your own masternode, but it does come at a price. We’ll have a look at the fundamentals for what a masternode is, what can it bring you and how could you start running your own one. 

What is a masternode?

So this is slightly different for many of the blockchain projects out there, but in general, a masternode can be described as a server on the network. If you understand the concept of blockchain, you have heard of nodes and you should be aware of their functions. If not; a node is the core validator of the network that carries a copy of the entire blockchain in order to constantly validate the blocks on the network. The most popular blockchains consist of several thousands different nodes across the world. There is no financial reward for running your own full node.

A masternode, however, is slightly different. You could call it a full node on steroids, or simply add ‘master’ in front of it for the same effect. A masternode does everything a node does, but it has to remain up and running 24 hours a day and usually has to carry more than double the capabilities in terms of memory and bandwidth in comparison to a regular node.

To enable a masternode, usually, a large portion of the tokens connected to the project should be locked away. This takes quite the investment in most cases, but it does bring a reward with it for keeping the masternode running. The required investment and the potential rewards vary per project, but it can be quite interesting, to say the least.

Why would I run my own masternode?

That’s what you might be wondering, why would I go through all the struggles of locking away a big chunk of my investments, setting up a server and keeping it running throughout day and night? Money. That’s as simple as it gets. Where a full node is simply there to support the network of your favorite project, with a masternode there’s a financial incentive. The amounts can range into thousands of dollars every year, but there is one thing that is important here: 

When you run a masternode, you dedicate yourself to a project. The rewards are paid out in the currency of the project, so if you do not trust this project or do not believe in the long-term value of the currency, do not set up your masternode. It’s equal to simply acquiring coins from the project, you do not buy anything without doing proper research before. With a masternode, that research should be ten times more thorough since you’re committing your time and money to this project. 
Anyhow, the returns can get pretty interesting;

  • Zcoin — approximately $664 annual (14.49% ROI), required investment – 1,000 XZC = $4,588;
  • Dash — approximately $4,500 annual (6,32% ROI), required investment – 1,000 DASH = $68,538;
  • Energi — approximately $14,500 annual (58.59% ROI); required investment – 10,000 NRG = $24,677.

As you can see the investments can be pretty high to start your own masternode. The reason for this is why most parties usually team up in order to divide the costs of setting up a masternode. Not everyone can simply cough up tens of thousands of dollars in order to host their masternode. The moment you do though, as you can see, the rewards get interesting pretty quick.

Whereas Zcoin and Dash are both more established projects, Energi is a newer project that has not been around as long as the others. It has been around since September 2018 and has dedicated a large portion of the tokens as rewards for the masternodes. This shows the potential of running your own masternode, how lucrative it can get. 

How do I run my own masternode?

You might have gotten interested in hosting a masternode yourself. That’s possible, but you do need some time to figure out how to get started. Running a masternode requires a computer to be running all the time, whether that is your own computer or the more preferred option, a cloud computer. That’s basically a server that’s constantly running for you, in exchange for a couple of dollars every month. There are a few steps you can take on your road to your own masternode;

  1. Pick the coin you want to start your own masternode with.
  2. Do your research on the project to find out if you can trust the project.
  3. Acquire the required amount of tokens to start your masternode.
  4. Find out what the requirements are for running a masternode.
  5. Host your own masternode or pick the service that does so for you.

Note that hosting your own masternode can get quite technical and tricky. There are costs that come along with hosting it, plus the initial investment is generally way higher. We at NowNodes, recommend people to start the masternode adventure by simply trying one of the established services to see if running a node is something of your interest.

At NowNodes, we are constantly analyzing the market and searching for the best projects out there that we wish to support. By doing so, we’ve created a gallery of different nodes that we decided to support. Take into consideration that we do not get any rewards for hosting these nodes, we do this solely to support the network and keep it as secure and decentralized as it currently is. To collaboratively do this, we take the first step and invite everyone to join us on our journey. How do you connect you might ask?

We’ve listed the available nodes that we host on our website and an extensive list of documentation to get you started. For those who are aware of nodes and have no problems working this out, all you simply do is an HTTP request to your preferred node and there you go. You have now joined our journey to proper decentralization and security for the networks that we love the most. 

That’s one of the considerations you should make when thinking of starting your own masternode. Are you looking for a source of passive income along the way or are you looking for ways to support the network and keep your funds secure? That’s the question that you should ask yourself, both options are reasonable and open for anyone. One thing we should all remember, if no one is running nodes, the network will not be secure. That moment, the funds that you hold might not even be yours for much longer. Always make sure you take your part in contributing to this beautiful ecosystem we have created all together the past couple of years.


Making Money with NOWNodes

Making Money with NOWNodes

Nowadays we witness the unbelievably flourishing crypto boom. It seems like everyone has gone bonkers about mining coins and making the most of cryptocurrencies. As you may already know, cryptocurrency is not just about mining, and there are multiple ways of profiting from crypto. One of these methods is setting up and launching nodes on NOWNodes.

Nodes: How Do They Work?

There are three main functions of nodes: accepting and rejecting a block of transactions, storing them and broadcasting transaction history to other nodes.

It is important to mention that there are two types of notes: full and lightweight. Full ones store a complete transaction history of the coin and are available 24/7 while the light nodes are responsible only for downloading and keeping block headers of the blockchain.

Ways to Start Earning with NOWNodes

NOWNodes is a 24/7 service provided by ChangeNOW which gives you simple, fast and secure access through RPC to various nodes.

NOWNodes is easy to use as you do not have to control the nodes – everything is done for you. Masternodes, which are used in NOWNodes, maintain network operations and increase transaction speed. Moreover, they guarantee the stable and secure work of the network.

How to make money from masternodes? Simply speaking, getting profit from nodes means you are rewarded with some amount of cryptocurrency with the creation of every new block of a transaction.

All you need for starting making a profit is just a computer with a static IP address and a cryptocurrency wallet that should stay synchronized with the blockchain 24/7. It is very convenient to use the advantages of NOWNodes as you don’t have to create a new masternode – it is already provided to you by the service. You can choose any masternode you wish according to the cryptocurrency you hold like Bitcoin, Dash, and even Callisto.

Making Money with NOWNodes

NOWNodes allows you to connect to the blockchain via a public full node. Moreover, you don’t have to pay a fee. There’s a wide range of the most famous cryptocurrencies. The service is known for the unlimited access to German-located full nodes of these cryptocurrencies and providing safe and reliable connection via RPC protocol. 

Final Words

It is easy to get a stable income without sparing too much effort using masternodes. You can have a stable passive profit and don’t think of buying and launching a rig or going trading. Still, setting up a node can be quite expensive, but having a decent plan in your hands and using a reliable service like NOWNodes gives you a solid chance of getting sensible profit running a masternode.


Everything You Need to Know About Nodes in Blockchain

Everything You Need to Know about Nodes in Blockchain

If you imagine beads, you will see that they are made of countless elements. One of those elements in terms of computer science is called a node. Nodes are fundamental units of a data structure containing data and linking to other nodes.

A node can be represented by any electronic device as long as it possesses an IP address and connected to the Internet. One of the easiest ways to connect to most popular nodes is using NOWNodes service.

Everything You Need to Know about Nodes in Blockchain

How Are Nodes Related to The Blockchain?

Nodes’ main function in Blockchain is supporting the network by storing a copy of a block. Sometimes they are used to process transactions. It is significant to mention that each cryptocurrency has its own node which allows it to keep track of tokens.

Basically, the functions of nodes come down to the following:

  • Nodes control the validity of transactions and are capable of accepting or rejecting them;
  • Nodes store blocks of transactions which refer to blockchain transaction history;
  • Nodes distribute transaction history to other nodes which may be necessary for synchronization with the blockchain;

How Are The Protocols Used for Connecting to Nodes?

Speaking of protocols, it is important to emphasize that they are a set of rules that governs how a system operates.

The main purpose of a protocol in blockchain is telling nodes how they should interact with each other. There are some particular protocols like Proof of Work, Proof of Stake, Ripple and etc. which operate in different ways yet come to the same result.

A node can be a communication endpoint or a point of communication redistribution, which links to other nodes. All the nodes on the network are thought to be the same, yet some nodes possess different roles in the manner in which they support the network and according to a protocol’s role. For example, not every node keeps a transaction history or a block copy.

What Are Full Nodes and Supernodes?

A full node is an outright list of all the transactions which have been implemented on a particular blockchain. The full node is designated to help cryptocurrency preserve the blockchain and keep the ledger distributed. Full nodes are usually compiled of smaller elements called light nodes which contain only partial history of transactions.

On the other hand, supernodes are specific features of some current blockchains. Besides validating and transmitting transactions, they can carry out other exercises like the execution of protocol operations and compliance with rules of a blockchain. Supernodes are usually always online and provide much more memory than full nodes.

How to Use Nodes in Practice?

Using nodes in real life is quite easy. All you need is a Bitcoin core client or any other and around 100 GB on your computer. For example, starting out with running a full node using NOWNodes means you will get full security and reliability. It sounds like an amazing way to find out if you like working with blockchain without putting much time and energy into creating your own cryptocurrency full node. But you have to know that keeping a multi-currency wallet requires maintaining a big number of special nodes to track the history of all possible transactions. However, it is quite easy to pick one currency you prefer or all of the listed ones without wasting time on constructing nodes for each cryptocurrency. 

Sum Up

Nodes play a substantial role in cryptocurrency protocols. All full, light and supernodes are equally essential to the safety and productivity of a cryptocurrency. If cryptocurrencies continue to grow rapidly, more and more people will switch from fiat money to cryptocurrencies. It means that more nodes will be needed to carry out a stable, safe and fast operation of blockchain transactions. If you need any help in setting up your full node or just would love to consult a support manager, we advise contacting us by email: [email protected] and not postponing this process.  Let’s drive crypto mass adoption together!


NowNodes are happy to introduce a new node – CLO!

NowNodes Is Happy to Introduce A New Node – CLO!

What is CLO?

СLO is a cryptocurrency owned by Callisto Network, a decentralized open-source crypto platform based on the go-Ethereum source code. The Callisto project acts as an Ethereum cold staking solution, which makes CLO the world’s first cold staking coin! 

What is cold staking then? Cold staking can be thought of as a form of passive income on your investment. You get the coin, and then you receive interest for holding it. You do not have the right to generate blocks or confirm transactions. 

The cold staking contract receives 20% of all mining rewards per block and distributes this amount among cold stakers in direct proportion to their stake.

The aim of the CLO coins is to provide full financial transparency and security, along with a contribution-friendly environment for further developments and improvements. NOWNodes is glad to provide fast and easy access to the nodes with such good goals! 

Also, NOWNodes, have the following advantages:

  • We provide access to over 15 top blockchain nodes 
  • Our service is fee-free
  • Our top-notch API tools grant secure and reliable access to the blockchain


Litecoin Full Public Node Is Supported on NOWNodes!

Litecoin Full Public Node Is Supported on NOWNodes!

NOWNodes is an innovative modern user-friendly platform that gives its customers unlimited access to major full public nodes. Today, we have a great announcement: We started to support the Litecoin full public blockchain node!

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone, anywhere in the world. NOWNodes is excited to support Litecoin’s full public node for the people of the community!

Right now, we support nodes for BTC, ETH, XVG, DGB, DOGE, GRS, XZC, BSV, DASH, RDD, BTG, ZEN, KMD, and DCR! Our goal is to support as many nodes as we can and we are excited to welcome LTC node to the NOWNodes family!

As for the details on LTC node: the servers are located in Germany and the node will be available 24/7: non-stop, fast, and reliable. The connection speed is the mind-blowing 1 GB/sec. The best part is that the connection is completely fee-free!

To get updates from us faster than anyone stay tuned: on Twitter, Reddit, and Discord.


Running a Masternode

Running a Masternode

Nodes And Mining

In our recent posts, we have already talked about what nodes are and how we can use them for coin mining. Basically, a node is any device with an IP address that participates in a blockchain. Full nodes are online most of the time and store the copy of the whole blockchain, while light ones don’t. It is well known that a crypto user needs to be running a full node to be able to mine coins.

However, mining coins aren’t the only way to earn money in the blockchain field, and sometimes it’s seen as quite ambiguous. After all, crypto coins do have high volatility, and if a coin’s price suddenly significantly falls, a situation can occur, where your expenditures on hardware and power bills would exceed the total value of the coins you’ve managed to mine. Luckily, there are other ways to make money and stay in the crypto lane. In this article, we will be talking about masternodes and how to use them.

What Is A Masternode

To run a masternode, you won’t have to worry about renting a place for all your hardware and installing cooling systems. Basically, a masternode, just like a regular full node, is a server or computer with a static IP-address, fully synchronized with the blockchain and working non-stop. It accepts transactions and provides decentralization. Their functions might differ depending on the cryptocurrency: DASH masternodes, for example, help carry out instant transactions. Other masternode tasks include, but aren’t limited to increasing privacy, governance and voting control, and enabling budgeting and treasury system in cryptos.

Then again — just like a regular node, a masternode can be run by anyone. However, there are certain barriers and limitations to make sure the system doesn’t get malicious. First and foremost, to run a masternode, you’re going to have to deposit a certain amount of your target coin. This needs to be done, so that you, as a masternode operator, have something valuable at stake and therefore are less likely to cheat. The minimum amount of coins differs from crypto to crypto (for example, 1000 DASH units for Dash, 10000 PIVX units for PIVX). Should you want to stop running your masternode, you get your deposit back.

Earning Money With A Masternode

Running a Masternode

After that, you’re going to need a VPS or server to host your wallet, as well as an IP address and some storage space. The question is, now that you’re all set, how exactly are you going to earn money with your masternode? In fact, it’s really easy. Once you launch the masternode, as soon as it starts performing its tasks, you’ll be getting rewarded by the network. The whole thing can be seen as receiving interest on your holdings. The incentive model depends on the cryptocurrency you’re working with, so it might be a good idea to do some research to figure out which coin will bring you the most money.

It’s important to remember that not all cryptos have a masternode system. As of summer 2019, the four most promising coins with a masternode system are Dash (DASH) with a minimum masternode amount of 1000 units, PIVX (10000 units), Blocknet (BLOCK, 5000 units), and Zcoin (ZXC, 1000 units). The amount of money you can earn from owning a masternode in these blockchains varies from $5 to $55 daily and from $2000 to $20000 annually.

Running a Masternode

Have we convinced you to set up your own masternode? Great! You can always obtain the desired cryptocurrency on our other platform, ChangeNOW: we offer fast and secure service, 24/7 customer support and most favorable exchange rates. Not so sure yet, but would like to try getting into blockchain anyway? Then NOWNodes is what you need: we provide access to full nodes of most promising and popular cryptos, allowing the user to try working with blockchain without having to set up their own full node – let alone a masternode. Join NOWNodes now and find the blockchain that works best for you and decide whether you want to set up a masternode for yourself!


How to partner with NOWNodes

Partnership with NOWNodes

NOWNodes is a modern user-friendly platform from the creators of ChangeNOW that offers secure access to full nodes of various cryptocurrencies. This can be quite useful for someone who would like to get started with cryptos but has no desire, time, or resources to run their own full node.

The full nodes NOWNodes supports.

At the moment (September 18th, 2019) NOWNodes offers full nodes of 13 cryptos, including Bitcoin (BTC), Ethereum (ETH), DigiByte (DGB), Dogecoin (DOGE), Verge (XVG), Groestlcoin (GRS), Zcoin (XZC), Bitcoin SV (BSV), Dash (DASH), ReddCoin (RDD), Bitcoin Gold (BTG), Horizen (ZEN), and Komodo (KMD). The platform is open to further partnership, and in this article, we will describe the steps you need to take to become our partner as well.

First off, you’re going to need to set up a full node of your target crypto for other users to have access to. There are various guides on how exactly it is done, the details differing from one OS to another and from one crypto to another, but generally the first thing you need to consider is getting yourself some strong hardware: otherwise, there will be issues. After downloading the software you need and synchronizing your new full node with the existing network, time to move on to the next step: opening P2P or RPC ports. What’s next? After that, you should find a proper explorer for your cryptocurrency. NOWNodes supports transparency and disclosure, which is why it is important to have access to all information regarding the blocks.

How to partner with NOWNodes.

Example of an explorer

Onto the next step: once you’ve taken care of the technical questions, it is now time to think about your future customers. Invest in marketing: promote your cryptocurrency and your full node, collaborate with other well-known platforms on the blockchain market, make sure people know about your product. It is crucial to pay attention to the growth of crypto adoption, especially regarding your target crypto. Learn about your potential customers’ needs, listen closely to what they have to say, adapt to their demands to attract new users. Contact NOWNodes at [email protected] once you feel like you have the customer base you are satisfied with, and the platform will be happy to discuss a potential partnership. 

If you’d like to use someone else’s full node, feel free to contact us as well. We’re open to everyone in the blockchain community, amateurs, and pros: should you want to launch your wallet or use a full node in some other way, and not know where to start; or just have any other partnership ideas — message us. Same goes for explorer and blockchain software owners — message us and we’ll figure something out. You’re a crypto newcomer and want to try our nodes — message us for documentation.

Don’t hesitate to contact NOWNodes if you feel like you have unanswered questions. Say, in case you would like to use your crypto/full node for commercial purposes, message us on email, Telegram, or WeChat, and we will gladly discuss that as well. Since its creation, NOWNodes has attracted lots of partners, most being very well-known on the blockchain market. Join the mutually beneficial partnership, keep up to date with the latest blockchain trends, gain profit and enlarge your customer base with NOWNodes.


crypto mining

Nodes And Mining

As we already know, a node is an electronic device with an IP address that is connected to blockchain — that is, a computer, a laptop, or even a smartphone. Bound together, nodes form a decentralized network that works without a server, all information being stored on nodes directly. There are different types of nodes that vary by technical characteristics, the amount of time spent online, and visibility. In this article, we will be talking more about how nodes work and how to use them for cryptocurrency mining.

To understand the concept of mining, we need to remember how blockchain works. Basically, blockchain is a growing list of blocks — data records — all of which are connected, forming the said ‘chain’. Due to every block storing some data from the previous block and the following block, the whole chain is immune to external data modification, which makes the network very secure. To maintain this security, the transactions are expected to be ‘validated’ by the members of the chain — full nodes. Lite nodes don’t carry out validations, due to them being vulnerable to data modification themselves.

As a full node starts generating hashes looking for vulnerabilities in the network, once a vulnerability is found, the node is rewarded with coins. This process of obtaining cryptocurrency is called mining, and basically exists to stimulate blockchain users to contribute some of their computing resources to the network. Once bitcoin —  the first modern cryptocurrency — was launched, mining used to be easy, and almost every user could do it. Nowadays, bitcoin mining needs a lot of dedication, costly computers, and Internet bills. Why is that?

In fact, mining difficulty is the actual official term rather than a subjective assessment. Like we mentioned above, nodes, while mining, generate hashes in order to detect blockchain vulnerabilities. For every node, there is a set number of how many times per second a hash can be generated —  this is one of the fundamental node characteristics, hash rate. In other words, the hash rate of a node expresses its computing power. To mine successfully, you’re going to need high capacity devices, the hash rates of which being above 10 megahashes per second (MH/s).

What about the difficulty though? It is a parameter expressing how difficult it would be to be rewarded with a coin, which depends on the hash rate of the whole network and on the time spent on finding the previous blocks. The higher the hash rate, the more participants in the network, the shorter the amount of time spent on mining a new coin, the smaller the chance you’ll be rewarded — and, last but not least, the more electric power you spend. It is important to know the difficulty of mining to spot the most effective devices and to redistribute the resources you spend if needed.

The fact that mining popular cryptocurrency is becoming more difficult and demanding, can be illustrated by another fundamental characteristic of any blockchain — block height. Roughly speaking, a block height is an amount of all the blocks (which are effectively just bunches of transactions) that have been created since the launch of the coin. For example, every ten minutes a new block is generated by the Bitcoin protocol. The generation rate is even higher in the Ethereum protocol: once in every fifteen seconds. Even though the block height is a worse security indicator than the hash rate, it is an important parameter, for it demonstrates how quickly popular cryptocurrencies are being spread. 

In conclusion, we would like to mention that despite the fact that running a full node is serious business nowadays, it doesn’t mean you shouldn’t get into cryptocurrency at all. NOWNodes provides access to full nodes of the most popular cryptos, making your blockchain experience easy and fun.