18th August 2019 represented a landmark as The Caelum Project migrated to its own blockchain. The model used by Caelum is similar to the successful Tomochain based network and in addition has an implemented mining network. Initially a masternode requires at least 50,000 CLMP to stake to create. I have mined CLM on the Ethereum network since the beginning and in doing so have managed to obtain enough to create a masternode on the Caelum Network.
Setting up a Masternode
Initially I was worried this process would be difficult. I am not technologically gifted and I have never ran a masternode outside of the Ethereum network. I have a basic home pc and was concerned I did not have the facilities to make it happen. Fortunately the Caelum Community are fantastic and a member created a simple video guide to help users like myself create a masternode. https://youtu.be/ydYFh3Xif60 In addition there always seems to be someone around in the telegram chat willing to help if you get stuck.
First stage involved purchasing a VPS (Virtual Private Server) to run the masternode from. There are plenty to choose from including Digital Ocean, Vultr and Contabo amongst others. Once purchased you will receive login details and from there the community video showed a simple guide of the code needed to enter to create the masternode. Finally using Metamask I was able to connect and transfer 50,000 CLMP to stake and kickstart the masternode.
Is it a bad time to get involved?
Absolutely not. Unlike Tomo at time of writing there is not 150 masternodes on the network and it will take some time for there to be 150 masternodes. Its also worth noting at todays price a Tomo masternode will cost in excess of $23,000 to obtain and thats assuming you receive enough votes. The only problem is attaining CLMP. However if you are already a holder of Tomo and Ethereum then you receive an airdrop soon. Also Caelum has plans to be listed on a reputable exchange in the not too distant future. It may be worth talking in the Caelum Telegram and set up a OTC if you want to get involved asap.
The great thing about using a VPS is that I do not need to leave my computer on. The process is pretty much automatic. The important thing is to keep the masternode within the top 150 with voting to ensure rewards are continuously collected. I can continue to check out my masternode at the following pages https://master.caelumfoundation.com/ and https://stats.caelumfoundation.com/
Other Important Links
Telegram announcements: http://t.me/caelumproject