How To Guides Masternodes

COLX Masternode Install Guide v1.0 (Summary)

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1. For security, you should create a hot/cold setup with TWO wallets:
– One wallet for the masternode (24/7, so either a VPS or a server in your home). This will be the masternode. IT WILL CONTAIN NO FUNDS!
– One wallet on your pc. THIS WILL CONTAIN THE FUNDS. You can use it to start the masternode server and then close this wallet.

2. First install the masternode wallet.
– It must use the default port: 51572 (and ususally 51573 for RPC);
– Write down the IP address, you’ll need it later;
– Open ports, NAT, firewall if you need to;
– Start it. On linux: colxd –deamon
– Synchonize the blockchain.
– Stop it to make adjustments later. On linux: colx-cli stop
– The masternode wallet will stay empty at all times!

3. Then install your PC wallet:
– This is just a regular install of the wallet with a GUI
– Synchonize the blockchain.

4. Transfer the funds to your PC wallet:
– Create a new receiving account (File, Receiving Addresses, New), call it ‘Masternode 01’ or whatever you like.
– Transfer exactly 10,000,000 to that account (must be one 10,000,000 payment, not mulitple small amounts).

5. Check your payment:
– In the console (Tools Menu, Debug Console), use ‘masternode outputs’.
– For valid 10,000,000 payments, it will give you a transaction_id and a transaction_index (usually 0 or 1).
– Copy/paste these values to textfile, you will need them later.

6. Create a unique number for your masternode:
– In the console, use ‘masternode genkey’
– Save it to the textfile, you will need it later.

7. Enter your masternode details in your PC wallet:
– Click Tools, Open Masternode Configuration File (or open masternodes.conf)
– On one line, enter: some name without spaces like MN01 (space) masternode IP:port (space) generated_key (space) transaction_id (space) transaction_index
– Save the file and restart (I think)

8. Configure your masternode in ColossusCoinXT.conf:
– Add masternode=1
– Add masternodeprivkey={the key you generated}
– (re)start it. On linux: colx-cli stop / colxd –deamon
– The debug.log should say that the masternode is waiting to be started (from the PC wallet).

9. Activate the masternode from your PC wallet:
– Go to page ‘Masternodes’
– Click ‘update status’ to see
– Use any of the start buttons to register the masternode with the network.
– IF IT COMPLAINS ABOUT TXID: Use the console iinstead: ‘masternode start-alias MN01’

10. Check your masternode:
– The debug.log should say ‘Enabled!’.
– It will start Pinging the masternode system to keep its registration alive.
YOU CAN NOW CLOSE THE PC WALLET!
– If you open it, your masternode payments will appear (after block 10.080).[/vc_column_text][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” width=”1/6″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][/vc_column][/vc_row]

Author

Ciwox

Chief Compliance Officer for COLX. Got into crypto end 2016, passionate about everything that works binary. Polyglot, developer, gaming and football fanatic. Reponsible for Web-, Bot-, and Business Development and Marketing