How Masternodes fit into CryptoCurrencies?

The cryptocurrency market is diversifying the rewards systems. Masternodes launched in 2014 with the start of Dash being the first masternode to reward users for running a VPS that secures the network. The blockchain system consists of several computers, called nodes or known as Masternodes, across the world sharing a common ledger of data that they all agree on.

The data that goes into the ledger is structured in blocks & the method of how the computers agree to add the blocks is called a consensus mechanism.

Consensus methods are varied. The work that Nodes put in help make that Blockchain stay secured & to process the transactions. The nodes incur a cost in doing so. After all, nodes are computers running full speed to provide maximum network capacity to the blockchain. And computers need electricity and maintenance. Both can be expensive. Computer moving parts need to be replaced very frequently if nodes are running 24x7.

The latest security suites must be installed to protect the computer itself against malicious actors trying to take control of the node. It may appear to be slightly hostile & harsh. But the reason that the nodes are taking all of these risks is of course to be incentivized / rewarded by the community that benefits from experiencing a smooth, fast & full feature blockchain. These rewards are called various names depending on the consensus mechanism that the node is utilizing to stay synchronized with the rest of the blockchain nodes.

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