CEEK PoS Masternodes Beta is here.
Full support for private servers, Amazon AWS, Digital Ocean, Google Cloud and More!
Over the past few months we have been working diligently to build the CEEK Masternodes — a network of powerful servers independently operated by Ceekers that are looking to both enable the network and be rewarded for their efforts. Finally, we are excited to announce that we have come up with a reward structure and technical architecture that we believe will ensure reliable content delivery that is secure, protected, censorship resistant and throttle-proof.
CEEK GLOBAL INNOVATIONS (CEEK) is committed to delivering to Ceekers the best quality VR streaming from any event in the world to any location on the globe.
High quality content delivery is resource intensive and requires a distributed set of connected powerful computers to relay near-instant streams to all audiences. Enabled by groundbreaking blockchain technology Ceek is building a decentralized network of masternodes to ensure the best possible VR experience. The rise of blockchain technology enables Ceek to create such a distributed content delivery network that is maintained by people who have a vested interest in its successful operation.
CEEK uses a custom permission Blockchain with a simplified PoS consensus algorithm and masternodes; enabling control and architectural flexibility to meet developmental requirements. The masternodes will reward participants for staking their tokens on our platform. ERC-20 will be proof of transaction only.
What are Masternodes?
A masternode is a server that offers utility to a distributed network. The concept is specific to the blockchain space and is meant to represent the decentralized counterpart of the consolidated model employed by centralized solutions today. Traditional infrastructure relies on cloud hosted servers and network equipment, which are centralized in big data centers across the globe and offer good performance and availability at moderate costs and security levels.
The masternode network offers the same performance and arguably better availability, as there is truly no central point of failure, while the cryptographically secured infrastructure ensures the highest level of security, privacy and censorship resistance.
In order for the network to be secured and protected from malicious actors, masternodes operators are required to vest interest by locking up -or staking -a considerable amount of tokens for a long period of time, thus aligning their private interest with that of the network itself. Acting maliciously can result in seizing of a portion or of all the locked tokens.
The network rewards the operators with a periodic distribution of tokens that is proportional to the utility provided. These rewards are usually proportional to the amount of locked tokens and performance & availability of the servers.
CEEK has decided in favor of distributing its future content via such a decentralized network, so as to offer the best possible quality at the lowest price point and highest level of trust.
CEEK Master Nodes Explained
The CEEK distributed network will be initially comprised of 200 masternodes accounts with each holding up to 5 Masternodes for a possible total of 1000 Masternodes. These servers will be used to relay high quality VR content to CEEK audiences throughout the globe. They will require a fast CPU and sufficient memory and bandwidth to process and distribute the data stream as fast and efficient as possible.
To protect the best interests of CEEK customers and the CEEK network itself, masternode operators will be required to stake CEEK tokens as collateral. The staking mechanism is intended to both protect the CEEK network from malicious actors and also as an incentive mechanism for operators who get rewarded for running nodes.
There will be five grades of masternodes serving the same purpose but granting increasingly higher rewards with the amount of tokens staked.
· Grade 1 Masternodes will require 150,000 CEEK tokens to be staked, offering a reward of 5,000 CEEK tokens per month.
· Grade requirements increase in 150,000 CEEK token increments, with Grade 5 requiring 750,000 CEEK tokens.
Rewards will be awarded for all masternodes that meet the uptime requirement of 98.5% over a period of three months. Availability is measured by periodically challenging each node to perform a Ceek-specific computation. Failure to do so marks the node as unavailable for that respective period of time and degrades its availability by 0.5%.
To secure CEEK’s long term vision for the future of VR entertainment masternodes will be incentivized to commit their support for long period of times. Thus nodes can be committed for at least 1 year, with rewards increasing by 5% for every additional year of commitment, up to 3 years and 10% bonus.
A Few Highlights
CEEK Masternode Reward Calculator — Handy reward calculator for accessing PoS options.
Masternode Exchange — The CEEK Masternode Exchange gives users rights to trade their CEEK Masternode within the CEEK ecosystem. All other systems will not be authorized to stake and sell CEEK Masternodes.
Masternode Creation, Transfer and Deletion — Nodes can be created, deleted and transferred at any time. When deleting a node, the outstanding rewards will be claimed at the end of the reward cycle. If the node is deleted before the committed time period, the long-term bonus will not be awarded. Existing nodes can only be transferred to other node operators who have the option to bid for taking over a masternode from another owner. In case there is no interest in taking a node over, it will be deleted and the respective rewards will be claimed by the original owner.
Building a Masternode — Node operators can run servers that they either own and host themselves or rent out from cloud providers such as Amazon or Digital Ocean. Global coverage for the Ceek network is important so geographic distribution is encouraged.
Ceek masternodes will require a Linux operating system and a physical or virtual server with the following minimum configuration:
· 2 vCPUs
· 4GB of RAM
· 80GB storage
· 4TB traffic
Bringing Up a Cluster
A walkthrough of setting up a more realistic cluster is here. Let’s bring up 2 more nodes, so we have a 3-node cluster. That way we can tolerate the failure of 1 node:
This example shows each hraftd node running on the same host, so each node must listen on different ports. This would not be necessary if each node running on a different host. This tells each new node to join the existing node. Once joined, each node now knows about the key:
Thank you for your interest and continued support of the CEEK GLOBAL INNOVATION network. Access CEEK Masternodes from https://masternodes.ceek.com ONLY!!!
CEEK cannot access accounts, recover keys, reset passwords, nor reverse transactions. Protect your keys & always check that you are on correct URL. You are responsible for your security.