Zoinode is the term used for Zoin masternodes. Masternodes are computers that run a Zoin wallet and help secure the network by completing special tasks on the blockchain and ensuring quick transactions. To set up a Zoinode, you must have dedication, support, specific hardware, and lock up a certain amount of Zoin as voted on by the community. Details about setting up a Zoinode will be available once development is complete.
The primary purpose of Zoinodes are to benefit the network. Although it is a perk to get Zoinode rewards, they are being implemented for the benefit of the network. Therefore, the development team asked the community to consider the following for masternode voting decisions:
- About 150-300 Zoinodes are required to secure the network.
- The development team recommended that the community votes for a Zoinode cost of 25,000 Zoin. This will provide enough availability of Zoinodes to secure the network, while not allowing for more than what the network will benefit from.
- Comparing the Zoinode implementation to other coins masternodes is pointless, as each coin has varying supply and goals.
Currently, the team plans to have 65% of the block reward go towards Zoinodes and the remaining 35% towards mining.
More details about Zoinodes will be provided as development progresses.