EasyNode Coin (ENCO) Shared Masternodes v1.0: Features and User Interface

ENCO is an all-in-one Masternode Hosting and ASIC mining services provider that aims to become the leading platform in automated masternode hosting. The project has been growing at a rapid pace since its launch and within less than 1 month of it first becoming available on exchanges the platform was already supporting 20 different masternode projects. The project will continue to expand this roster and its goal is to support the vast majority, if not all, of the available masternode cryptocurrencies.

In addition to providing individual masternode services, ENCO has recently completed its public beta test for shared masternode services. We believe our shared masternode service is an essential component of the ENCO platform and by providing our users with this additional investment option, together with standard masternode hosting, coin holders can expand their portfolio even when they do not have sufficient collateral to run a node by themselves. There are currently 8 different projects available for users to participate in a shared masternode: ENCO, GIN, GTM, DEV, PAC, RUP, MIDAS, and LGS.

Benefits of Shared Masternodes

A shared masternode can be an excellent and cost effective way for a new user to learn the process of obtaining masternode rewards with only a fraction of the collateral usually required. This is extremely helpful for those that either don’t have the financial means to fully invest in a masternode or simply want to minimize their risk on a project. Users can also employ shared masternodes to help diversify their investment portfolio and, rather than going all in on a single project, they can instead participate in multiple projects and put their stake to work across a range of masternode coins. Participating in a shared masternode is a simple process that does not require any additional wallet management or upgrade by the user.

ENCO Shared Masternodes

A user can participate by joining any pool that is open in the shared masternode section.

Once a shared masternode that is currently collecting has been selected, the user will be provided with information such as the total amount of coins (collateral) still required to start the masternode and the number of users and their percentage of the total collateral currently joined in the pool.

To join a shared masternode the user simply choses the number of coins they wish to contribute to the masternode, which will then be calculated as a percentage of the total reward to be received when the node is activated.

To deposit the amount a user wishes to contribute, the platform will provide an address the user will need to send their coins to in order to participate. In addition, the user will be asked to provide a wallet address to receive their reward output once the masternode is up and running.

After the user has sent their contribution to the provided address, it will take the platform a few minutes (approximately 3 confirmations) to confirm the transaction and update the pool information.

When the total number of coins required has been gathered, the masternode will automatically start and the user can monitor the status of their node on the platform.

Fees for participating in a shared masternode are calculated based on the percentage contributed towards the shared masternode and this cost will be deducted from the users platform account.

ENCO Shared Masternode: User Interface

The user interface for shared masternodes on the ENCO platform provides a detailed breakdown for the user to monitor their investment, including:

- Your coins & owner %
- Overview # of seats in MN
- (Lifetime) Payouts summary
- Overview of received Rewards
- Overview of your ROI
- Overview of creation (payouts, address, seat dates, seat ID)
- Chart overview Free vs Occupied
- Total number of seats including %
- Transaction and Payout History

Frequently Asked Questions:

1: Can anyone start a shared masternode or does the platform control this process?

The availability of a shared masternode pool is automated by the platform. A new shared masternode is automatically opened when the previous node has been filled to allow users to continue contributing to the pool.

2: What happens when someone exits their seat in a shared masternode?

The seat will remain open and the masternode will continue to run for 7 days to allow it to be filled by new users. If after 7 days the seat has not been filled then the masternode will be disconnected and all users coins will be refunded to their wallet.

3: Who holds the shared masternode coin? What happens if there is a hack or the coins are lost?

All coins contributed to a shared masternode are held in cold storage by ENCO. In the unlikely event of a hack or loss the ENCO project will refund any lost coins to the user.

4: What is the cost to deposit and withdraw coins?

ENCO does not charge or profit from users deposits or withdrawals on the platform. Users are responsible for the transaction fee incurred on the blockchain when depositing or withdrawing from a shared masternode.

5: What is the cost to participate in a shared masternode?

Fees to participate in a shared masternode are similar to the individual hosting fee ($0.25 per day) but each user will only pay the amount equal to the percentage they hold of the shared masternode.

6: How many coins are currently available for shared masternode?

There are currently 6 coins supported as a shared masternode (ENCO, GIN, GTM, LGS, PAC, MIDAS, RUP and DEV).

Future Development:

The release of shared masternodes is a big milestone for the ENCO project. Although the shared masternode service is currently available for ENCO users, the platform is still in its early stages and further features that we are looking to implement into the shared masternode service include: Additional coins, multiple server sizes, reward conversion and reinvestment options and an updated UI to further improve the look and feel of the ENCO platform.

Official Links:

Website: http://easynodecoin.io/

Platform: https://platform.easynodecoin.io/

Explorer: http://explorer.easynodecoin.io/

Whitepaper: http://easynodecoin.io/lightpaper.pdf

Wallets: https://github.com/Easynodecoin/ENC/releases

Exchange: https://wallet.crypto-bridge.org/market/BRIDGE.ENCO_BRIDGE.BTC

Github: https://github.com/Easynodecoin

Discord: http://bit.ly/ENCDISCORD

Twitter: https://twitter.com/EasynodeCoin

Telegram: https://t.me/easynodecoin

Announcement: https://bitcointalk.org/index.php?topic=5026123