One of the biggest opportunities of Gen 3 is its potential to empower our community. As the project grows, we want to give everyone the chance to have a say in the direction the project takes. That’s why with Gen 3 we’re making it easier for more people to own an Energi masternode than ever before.
Let’s start with some background.
Masternodes are the pillars of the Energi ecosystem. Their primary role is to serve network stability by validating transactions across the network. Their secondary role is governance, which means helping our decentralized project to make decisions about treasury fund allocation and innovations to the protocol. As with a building, the more pillars it has, the stronger it is — and Energi is no different.
Masternode holders are Energi’s foundation and have been a fundamental part of our success so far. However, we know that the cost to own a masternode has been prohibitive for many who would otherwise want to help secure and strengthen our network. That’s why we’re asking the current masternode network to vote on a change for Energi Gen 3 to reduce the masternode collateral to only require 1,000 NRG — not the 10,000 NRG needed currently.
For the Community
This change will benefit the community immensely. Because it’s now cheaper to own a masternode, it’s more accessible to more people than ever before. Community members who could only dream of running their own masternode can now do it for real…
This will also benefit our existing masternode holders. Not only will they benefit from a stronger network, but they’ll also be able to increase the number of masternodes they own more quickly. In Gen 2, it would take approximately two years to gain another masternode. With Gen 3, operators will be able to gain an additional node in about one-tenth of the time (under three months) because only 1,000 NRG will be needed.
For the Network
This new structure also provides crucial benefits for the wider ecosystem. With a stronger masternode network, Gen 3 will be more decentralized than ever before, which ultimately lets us increase the security and scalability of the entire ecosystem. That’s a win for everyone.
And we’re improving the way masternodes are managed. With Gen 3, masternodes will be able to be run with any amount from 1,000 NRG to 100,000 NRG (in increments of 1,000). This will lead to a better experience for masternode operators by enabling masternode rewards to be accumulated more efficiently. All in all, it will let them do their jobs better — as well as improving the security and quality of the entire network.
One Last Thing
Thank you for taking the time to stay up-to-date on everything that’s happening with Gen 3. This is another important step in opening up the Energi project to more supporters. We hope you’re as excited about the future of the Energi project as we are!
If you would like to find out more about getting your own masternode, check out our awesome guide. 👇
Until next time!
The Energi Team