Exactly at 9:00 PM EAT, Thursday, April, 2020, The cryptocurrencyacademy.info team had conducted a webinar on zoom meeting and averagely 20+ attendee were present with Guest Nathaniel LUZ (Lead, Dash Nigeria) and Josh ERHIGA (Lead, QNG Nigeria). The academy moderator was Brian ADAMS (Lead, Cryptocurrency Academy Kenya).

The meeting started with great audience as Brian addressed and followed by Nathan, but for network congestion and interruptions Josh couldn't participate adequately and later was un-reached.

For those who missed the webinar, I felt writing a lay article will give some expression to the sessions I (Josh) could not cover. And with great respect, to my co-guest (Nathan), I must say that I enjoyed your sections on DASH prior to the networks interruptions.

With regards to my sections, I have prepared some answers with regard to questionnaires sent in from the academy. And since am to speak on Qnode project, I will just do well to answer them here on this post.

Q#1. What are masternodes?

First, a brief meaning to what a node is. A node can simply be understood as a computer that plays a part in ensuring the integrity of a network.
And, A Masternode is therefore a crypto full node (i.e. a computer wallet) that supports a network by hosting an entire copy of a coin's blockchain.

What then are masternodes on Qnode Blockchain?
Masternodes (MN) on the Qnode Blockchain are the chief coin producer elements of the network. It likely easy to say that MN is a privately owned savings account (where a user put 41,200 Qnodecoins as collateral into an address as fixed deposit), and in return the address is rewarded with regular interest. And this node therefore helps in the consensus to secure the community and relay transactions across the network.

Note: QnodeCoin is a fork of PIVX and enjoys the hierarchical improvements from Bitcoin core to Dash core to PIVX core and now Qnodecoin core. So, am indirectly explaining the PIVX chain, with modifications deployed to the Qnode blockchain. The Qnodecoin is a PoS - Proof of Stake consensus type of chain. It support masternodes and staking.

Coin specifications
Coin name: QnodeCoin
Ticker symbol: QNC
Algorithm: PoS (QUARK)
Block Reward: 10 QNC
Block time: 60 Seconds
Pos Maturity: 120 Minutes
MN collateral: 41,200 QNC
Total Supply: 412 Million QNC
Premine/SWAP: 1.22%
Subunits: 0.00000001 nodelet
RPC/P2P Port: 17021 / 17022

Consensus Rules (PoW/PoS)
POW-Blocks: 1-1000
POS-Blocks: From 1001 Onward
Block Share: 100% (POW); 85%/15% (POS)
Avg. Block Per Day: 288 (POW); 720 (POS)
Avg Spacing: 5mins (POW); 2mins (POS)

Q#2. Why Run a Masternode?

Consensus decentralization is primarily the grand reason to deploy nodes, but there are several other reasons why people would want to run a masternode beyond consensus:

#1. Every Masternode Blockchain is Decentralized.

Any Blockchains that features masternode supports are usually decentralized in a unique sense. That is, No central government. Coins can be forged by anyone who meets the requirements. So, the Developers does not hold the total supply and gives to anyone they prefer. The nodes performs the governance in this case. Whereas, there are premines which are determined either for swaps or initial offerings and development. And shouldn't go beyond 2.5% depending on supply.

#2. Minimized Risk of investment:

If anyone is looking forward to a future investment to put money in, in other to harvest handsome rewards, then consider masternodes investments. but consider their peculiarities before you invest. Do not just jump at them. DYOF

#3. Passive earning is the initial drive that led to masternode mining.

Everyone likes passive income. If you like making passive income look into it. Your choice coin may gain global recognition, soon. Dash, PIVX, ZCOIN has already gain global presence. But QnodeCoin is new, with potentials to do great in the market. I do not mean you jump into Qnode, DYOF

To understand crypto currency mining easily, this is a good illustrations on bitcoin mining.
The Bitcoin network is being secured by over 10,000 fullnodes. And the network forges 1800 bitcoins daily in 144 blocks. That means 0.18 btc goes to those 10,000 full-nodes averagely. so, it a handsome reward if the node is owned by an individual or a corporation. Meaning that averagely 5.4 btc is forged by these 10,000 full-nodes monthly. But, It's quite difficult to set up a Bitcoin full-node individually now, so there are partial nodes (not full-nodes)
This also applies to Dash in typical sense, but unique technology and their likes. And because their market price has soared, it now relatively expensive to acquire collateral for a node, hence DASH very lucrative. Except an individual owns 1000 DASH, they cannot deploy a full node for self. Although there are shared nodes in the DASH Chains and the likes. So, people can host nodes on shared hubs. Indeed DASH is very promising and lucrative.

Q#3. MN Requirements on Qnode Blockchain

The basic requirements to own or set up a masternode on the Qnode Blockchain are as follows:
#1. - - You need exactly 41,200 QNC as the collateral for 1 Masternode
#2. - - You need a PC (Personal Computer e.g laptop or a Desktop)
This computer holds the wallet, where you want to store your coins and control the masternode remotely. And this PC do not need to be online all the time. We usually call this PC-Wallet.
#3. - - You need a VPS (Virtual Private Server) with Ubuntu Server 18.04 Installed: The VPS is the second computer with Ubuntu Operating system, and that will act as masternode server. The VPS runs on the internet 24/7. We call it VPS Wallet. We recommend you register for a VPS account on VULTR or DIGITAL OCEAN. If you use the link on our site to register anew account, you get pre-loaded with $100 free for 30 days on vultr

Q#4. What are the utility cases of Qnode?

Primarily, Qnode blockchain is built as digital payments coin and mining. But we explore for more utilities.
#1. Masternode Mining
With a Masternode on Qnode Blockchain, you earn 85% block rewards. Every block carries 10 coins. This means MN earns 8.5 QNC per block.
👉 Qnode BC is fast and forges a minimum of 720 blocks per day

#2. PoS staking

Not everyone can afford a masternode, But can still participate in consensus by staking their wallets and earn 15% block rewards. Since every block carries 10 coins, it means stakers earns 1.5 QNC per block and rate of earning is dependent on the wealth of coins held in the wallet. We encourage you hold a minimum of 500+ coins to stake and mints new coin from a PC wallet.
Staking is enabled only on PC Wallets#3. P2P Digital Payment
Currently, we develop the Qnode (Electrum) Wallet for Android phones. The purpose is for storage, portability and p2p payments.

#4. Vendors Adoption

We are building a vendors community and hope to achieve vendors adoption, with a reserve in the future.

#5. Instant Swap and Quone Exchange
From our mobile app, we shall implement instant exchange for swap. And We are already building a native Exchange for Qnodecoin. QnodeCoin will be the major denominator in the native exchange for trade pair, listing fee etc. This, we hope to impact price & volume via Quone Exchange and Android Wallet.
Qnode (Electrum) Wallet currently holds 8 extra coins. Soon, there are partnership request to list to our mobile wallets. This, we will allow partners to pay in QnodeCoins… In the future, we seek to implement more usage beyond payments, mining & staking.

A FINAL WORD FROM YOU, JOSH

A final word from me to my readers and listeners in Africa (particularly), The Qnode Project is not the work of stardom. Its completely a Non-Ico, Sometimes, if you cannot create something new, then improve on existing solutions. Africans has always been left behind in blockchain technology & adoptions. But I say to my self and team that, as open source let avail ourselves for service to solve a problem or improve on existing solutions. The Quantum Node Group behind this project has enjoyed some support from our Indonesian counter-part and open source contributions. Let support our own, Africa.!!
My profound gratitude goes to the Academy and Brian Adams

Visit us today:
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How to deploy Masternode on Qnode BC
Qnode (Electrum) Wallet for Android on Playstore

Exchanges/Markets
Qnode Blockchain is just 2months old with 2 exchange listed and 6 markets
NANU.EXCHANGE
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Our Gift:
We are sending 1000 QNC to all participants of today's webinar. This is enough for you to stake and earn rewards. Simply reply to crypto-academy on mail with your wallet addresses to claim your gift after you download a wallet suitable for you.