Blocknode

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Blocknode

Decentralised Employee and Customer Reward System

 

Blocknode is a masternode platform with a reward system. Investors will be able to invest their money in masternodes, paying minimum 100 000 BND tokens that will enable them to setup Blocknode masternode and start generating BND tokens as reward.

These tokens can be traded for Bitcoins or could be accepted by the business partners as discount. There is also another option to reward employees, customers and others with tokens that are received from masternodes.

Blocknode will be using a consensus method called proof-of-stake (PoS). In a proof-of-stake system, the coin holder gets paid transaction fees for validating transactions via their wallets. Blocknode is a modified Pivx fork.

 

Partner benefits

By partnering with Blocknode and rewarding employees with Blocknode tokens, you are eligible to have a custom wallet skinned with your company logo featured within the wallet.

 

Blocknode proposal system

The Blocknode proposal system makes it possible for Blocknode to fund its own development. While other projects have to depend on donations or pre-mined endowments, this project uses the block rewards to fund its own development. Every time a block is mined, 5% of each block reward is allocated to a central fund to independently support the Blocknode development. This means approximately 50,000 BND is available for funding at the end of each superblock. Blocknode community members can submit their own proposal and ask to receive funding for a project that they think will benefit Blocknode as a whole. A collateral transaction of 50 BND is required.

The proposal system entitles Masternode operators to vote for or against the submitted proposals.  Voting can be done on submitted proposals using the debug console of each wallet. The last possible date to submit a proposal is 3 days before the superblock.

 

 

Masternodes

Masternodes are essentially nodes on the network running the same wallet software on the same blockchain which provides extra services and features to the network and its users.

The primary services that Blocknode masternode provides to the network are:

  • Instant transactions
  • A decentralized governance
  • A decentralized budgeting system
  • Immutable proposal and voting systems

The reward for each POS block is : 80% to masternodes, 15% to staking nodes and 5% to governance. The BND tokens in your wallet needs to mature before they can be used for staking – tokens mature after 101 confirmations in your wallet

 

VPS specifications that are required to run a node (as on May 2018)

  • Ubuntu 16.04 VPS with dedicated IP
  • 1GB RAM (or 512MB + 512MB vSwap)
  • 10GB HDD

Required specifications may increase over time.

It is possible to run several nodes on one single VPS, but you need to have several ports on a server.

You will need one port for every node, one data directory for every node and to bind=(port) in config along with increased hardware specifications.

One more thing – it has to be one fixed external IP address to run locally.

 

Coin specification

Coin name: Blocknode

Ticker: BND

Time until max supply: Inifinte

Block time: 120 secs

Algorithms: PoS

Total supply: 470 717 206 BND +

Pre-mine: 20 000 000 (distributed)

Halving factor: 0.9 every 64800 block

Masternode collateral: 100 000 BND

Masternode reward: 80%

Staking (PoS) reward: 15%

Stake maturation: 12 hours

 

Roadmap

Q1 2018

Project development start

Early partnership with Blocknode legal work team

 

Q2 2018

Website

Whitepaper

Testnet deployed

 

Q3 2018

End of June – a release of the project

Social media announcements

Wallets for Windows, macOS, Linux Mainnet Genesis block

Pre-sale

Listing on first exchange

Listing on masternode websites

Marketing on multiple platforms

 

Q4 2018

Wallets for High Sierra macOS

Listing on more exchanges

Signing small to medium business

More exchanges & CMC listing

Raspberry Pi Wallets

Android wallet to track rewards

iOS wallet to track rewards

Bespoke wallet rollout

 

Q1 2019

Android wallet App

iOs wallet App

 

Q2+ 2019

BND atomic swaps

Enterprise level partnerships

Blocknode Foundation Launch

Full Zcoin privacy enabled

Side Chain development

 

 

Contact

e-mail: contact@blocknode.tech

 

 

Watch intro video below