Masternodes and the Future of Crypto Mining
Blockstake is pleased to share this conversation we had with our all-world lawyer alan baldachin about masternodes and the future of cryptocurrency mining.
Whether you are new to crypto or an seasoned vet (“OG”), you will want to listen to this conversation as we discuss:
- What is a Blockchain?
- Origins: Early P2P Networks (Napster)
- Proof of Work vs. Proof of Stake
- The Business & Economics of Mining
- Blockstake: The What and Why Behind the Business?
- What Does Crypto Look Like in The Future?
As blockchain technology evolves, more and more blockchain networks are adopting a “proof of stake” concept with respect to operation and governance as opposed to a “proof of work” concept. But what does this mean, and why is this important? And, further, how should we think about these two modalities in terms of the broader blockchain ecosystem whether it be from a technical perspective or from the perspective of an investor.
In this episode of The Medium Rules, Alan Baldachin sat down with two of the four co-founders of the New York City-based startup Blockstake, Inc. to canvas a variety of topics related to the blockchain in general and proof of stake mining in particular.
Blockstake is a crypto mining startup solely focused on blockchain networks based on proof of stake, whereby network participants can earn rewards in the form of more network tokens based on “staking” a certain amount of tokens up front.
In exchange for staking, these trusted network participants earn the right to run “masternodes” which perform a variety of functions on the network, including transaction verification as well as governance.
Tom McLaughlin is the CEO of Blockstake and David Wodka is the COO, and both Tom and David bring a wealth of enthusiasm and expertise to bear in a lively and wide-ranging discussion covering the basics of blockchain technology (hint: think of a decentralized version of the early aughts Napster network), masternodes and proof of stake mining versus proof of work mining, as well as the origin story of how Blockstake got its start.
At the end of the podcast, we try and take a step back and look into the future to identify long-term trends with respect to the blockchain, as well as emerging projects that are of interest to Tom and David.
You can also find this conversation on iTunes (link direct to episode).
Resources to Learn More About Masternodes & Stake Mining
Blockstake Content
The Masternode Manifesto — Why Masternodes and Stake Mining Matter. Published by Blockstake CEO Thomas McLaughlin.
Masternodes and the Future of Crypto Mining — iTunes Podcast.
Research & Analytics
Masternodes.live — ROI, Supply & Key Data on Projects. Track your node rewards.
Masternodes.online — General Trends for MN projects, tracking statistics.
Bitcointalk — Best place to start research on any project.
Telegram — Free flowing conversation for community. Research token channels.
Discord — In depth conversations about projects. More structured than Telegram.
Stake & Nodes — Framework for masternode projects. Best in class educational materials for an investors considering proof of stake projects.
Influencers & Media
Cliff on Crypto — Top Commentator on Masternode Projects, All content non-sponsored
Masternode Related Twitter Handles — @blockstake, @needacoin, @cryptomocho, @cryptocliff, @masternodeL
Set-Up Tools
Gin Platform — One Click Masternode Set-Up & Hosting
Apollon — Similar to GIN, main platform launch Q3 2018
Sublime Text — Text Editor to Help With Set-Up
“Simplest Guide to Setting Up Masternodes” by Panama Crypto
VPS Hosting — Virtual Private Server (“VPS”) Hosting
Exchanges
Binance — Top crypto exchange in terms of volume.
Cryptopia — Many of the mid-tier (by volume & market cap) MN tokens are found here.
Cryptobridge — Many of the smallest (by volume & market cap) MN tokens are found here. Generally prior to listing on Cryptopia.
Bittrex — Top crypto exchange, security always been top priority.
