Xgalaxy is a diamond and still quite unknown, the current ROI on masternodes is amazing and their tiered system for rewards will keep it that way for some time, not to mention they already have real use cases and platform for it. Setting up a XGCS Masternode is simple, here are a few things you will need:
2.) A VPS to run your Masternode on, we have you covered on this one 🙂 Buy A Masternode VPS (the V512 is perfect, and choose Ubtuntu 16.04)
3.) A XGCS wallet and 20 minutes of your time
XGCS Masternode VPS Setup
Login to your VPS with SSH and issue the following commands:
git clone https://github.com/officialXGalaxy/XGCSMasternodeSetup.git
When asked “Do you want me to generate a masternode private key for you?” type y and hit <enter>. This can take a few minutes and you will be prompted a few times for an answer, just hit <enter> each time. It is possible you run into an error like:
If this happens simply reboot your VPS and run the install again:
It should complete without issue after that and you will see:
Press any key to continue x 2, copy your private key and back to your VPS 🙂 (yeah I know my GIMP skills are amazing)
XGCS Wallet + Collateral Setup For Masternode
Open your wallet and generate a new receiving address, label it something you will recognize and identify the VPS with, such as “mn1”.
Now go and send exactly 1000 XGCS to that address. When you paste in the address you will notice the “Label” field automatically fills out the label you gave it, this confirms the address is correct. Once sent go to Tools > Debug Console. Type “masternode outputs” without the “”, copy the output and put it in your text editor.
Go to Tools > Open Masternode Configuration File. Now check the example:
Format: alias IP:port masternodeprivkey collateral_output_txid collateral_output_index
Make sure there are no extra white spaces or it will cause you all types of head scratching! Now make sure to backup your wallet, you did after all just create a new Input 🙂 Restart the wallet let it fully sync and you will see a new tab called Masternodes. Click it and you will see your new Masternode listed, right click it > Start Alias. It will ask for your password which is normal and you should see after that a popup saying it was successfully started.
Back at your VPS hit cntrl + c and issue command:
xgalaxy-cli masternode status
“status”: “Masternode successfully started”
Woohoo you are ready to rock. It can take close to 24 hours before the rewards start rolling in. This script installs as a service so if the VPS reboots it will automatically start up again. If you have any questions or need help don’t hesitate to join me on Discord