As it’s known, the decentralization of cryptocurrency is achieved by the fact that each node of the network is capable of validating transactions independently because of the storage of its own replica of the blockchain, that it can use without relying on other services.
Users can share their nodes for connection to others, which is important for network enlargement and speed of initial synchronization of new connecting nodes and speed of message distribution. At the same time, users do not have to do this, leaving the right to keep their node in a passive mode without publishing it.
One of the main problems that masternodes are called upon to solve is saving of a large number of public nodes on the network. Referring to the structure of the reward mechanism, holders of masternodes are motivated to provide guarantees of their increased accessibility.
Masternodes are the same high-grade nodes of the KZCash network, running at the same code as any user’s node. They also store a chain of blocks, provide relaying of blocks, transactions, and perform their validation on the same terms as any other network members.
In addition, masternodes can provide additional services, the appearance of which makes the KZCash network two-storing, rendering the processing of these services on a separate layer of nodes instead of loading all the network in total by them.
Any node can become a masternode.
The activation process takes place in two stages: first of all, it’s necessary to transfer to any available address of this node exactly 1000 KZCash with one transaction, not more or less. The transaction will get into the blockchain, and the whole network will make sure that this address is capable to rightful signing service messages as a masternode.
Initially, masternodes during installation send a one-time announcement about themselves to the network for all nodes connected to it, so-called "peers".
Those peers, in their turn, are checking the validity of the message, and if all is well, they relay the announcement to all their peers. Quite so the chain is distributed throughout the network.
From this moment, the network recognizes about the existence of a specific masterpiece.
For the correct operation of the provided services, as well as for the honest distribution of rewards from mining across all network masternodes, an untainted way is needed to agree on which of the masternodes will be required to undertake these tasks.
In KZCash this problem is solved by the algorithm of queue predetermination and the principle of achieving non-trusted quorum.
How Is InstantSend organized?
How InstantSend works:
The mechanism of InstantSend is relied on the generation of masternodes quorum according to the foundations described earlier: specificating the list of the nearest masternodes in the queue, and sending the InstantSend request to all of the nearest nodes in the 10-node queue.
The masternodes take a request to create a transaction lock so that the same input could not be used twice in another transaction, but only in the sending transaction, and only in it. The blocking extention of the transaction takes for about 4 seconds on the average.
Any subsequent attempts to send the transaction with the same output, but the output not inconsistent to the previous transaction id, will be perceived as invalid and will be ignored by the network until the confirmation of the previous already sent instant transaction.
Transactions InstantSend from the first seconds receive 5 confirmations at once out of the queue. This will be displayed both for the sender and for the recipient.
How is PrivateSend organized?
“PrivateSend” is a service of mixing payments, which is integrated into the client program KZCash.
PrivateSend mechanism includes a number of procedures:
- Preliminary denomination – payments are split into equal parts: 100, 10, 1, 0.1, which prevents tracking by individual amounts.
- Every part goes over it’s own stages of anonymization
- not all amount is anonymized, but only parts.
- Exclusively coinciding parts by the volume are being mixed.
- On each step a new mixing masternode is selected.
- Mixing happens preliminary. After mixing, the amount goes back to the owner for new anonymous addresses, and can be used when it’s needed.
The most interesting thing about the Masternodes network is that people can freely come and go, that’s why the success of this network is not depended to specific users. It makes the network a decentralized structure.
The main thing that you need to know about how to get a Masternode is: you have to invest in it 1000 KZCash, and not to use this money. It means that you shouldn’t withdraw, convert or even send this amount somewhere from your wallet. As soon as your balance falls below 1000 KZCash, you will lose the right to vote.
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