Stage 1 of the reboot: migration (update 1)

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The migration of the current masternodes will be done this weekend, but what does it mean? With this article we would like to inform you about the details of the migration and what kind of impact it has.

What does it imply?

The migration of our current masternodes enable new features for those masternodes. These new features involve daily payouts, withdrawals (collect your rewards) and dismantling. Migrating these masternodes will require us to move the current stake from one wallet to another wallet. This movement of coins (including the pending rewards) is what you will see in the blockchain as well. A new setup of a  masternode will also require it to wait a bit longer for the new initial reward to come in which may impact the ROI a bit.

When the masternode has been migrated, we will move the pending rewards to the wallet of the masternode as well to be able to process those rewards in the new system. This means your rewards will be send to your "in-between" withdrawal wallet which is setup by us. When the coins are in your withdrawal wallet, you are able to collect those coins and send them to your own wallet or exchange.

Please note: collecting your coins is currently not in the existing dashboard. It will be part of the new dashboard. However, we will use your currently setup wallet to send the coins to in an automated way until the "collect your rewards" button is available. Users that have set an ETH payout address or users that have not set any wallet address, will collect their coins in their withdrawal wallet for the specific masternode.

What will change?

However, the migration also means that some things will change in how we currently report the rewards. At this moment we have a few separate ways of storing information regarding rewards: we've got the statistics and the transactions which are two separate entities within the Goldnode architecture.

This situation is not sustainable and therefore, with the upcoming daily rewards, we've decided that we will report on incoming transactions/rewards only. Incoming transactions are considered the daily payouts. Outgoing transactions will still be shown and will now be considered withdawals (when you're submitting a request to collect your coins). By using a single point of truth, we're making it easier to understand and the graphs that we're currently showing will make more sense.

I would like to add that because of the current migration and us sending the currently pending rewards to the wallet of the masternode, you can expect a initially higher payout to the withdrawal wallet as the first entry in your graph/transaction overview.

Conclusion

Quite a few things will change with this migration but they're all focussed around the possibility to give the user more control and make things easier. If you have any questions don't hesitate to reach out to us.

 

Shared Masternodes by Goldnode

Goldnode offers services for splitting/sharing and managing Masternodes. Masternodes are servers that operate blockchain technology and gets rewards by doing so. Get your seat and join in on the rewards!

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