The masternode craze has only just begun. Over the last year, countless people have become interested in masternodes and the passive income they deliver. The problem is…setting up a masternode can be more than overwhelming for most people. It requires advanced knowledge of Linux, servers, VPS, Shell etc. and that’s beyond the understanding of many crypto enthusiasts. To make things worse, most masternode crypto currencies have incomplete or even non-existing instructions on how to setup a masternode from the source.
To boost TRAID’s ecosystem and help with adoption, our team has developed a handy 1-click masternode setup script that will allow even the most tech-unsavvy people to set up a TRAID masternode with ease. This script will compile the source code, setup the VPS and start the node with all the required configurations. Basically, it will automate the entire process end to end.
This tutorial will teach you how to create TRAID masternode with a “cold/hot” setup. It’s the most secure setup as it doesn’t require you to have an active wallet with your collateral in it. The whole process is as follows.
1. VPS (Virtual Private Server) Running on Ubuntu 16.04 (We recommend Vultr)
2. Computer with either Ubuntu 16.04 Destop, Windows, or MacOS operating system
3. Network connection
LOCAL WALLET SETUP
* NOTE! < > quote symbols point out that the content inside < > is the command that you enter. Do not type < > in the window.
1. Visit TRAID platform’s official repository on GitHub and download the appropriate wallet according to your operating system.
2. After downloading the wallet file and running it you’ll need to wait for your wallet to get synchronized.
3. Once synchronization is done navigate to the ”Receive” tab, use the address you see in the “Receive tab” and send more than 60000 TRAID coins. We advise you to send 60001 TRAID coins.
4. Now create a brand new TRAID address and label it as you wish (MN, mn, masternode, masternode1, etc). Now copy the address and paste it into the text editor of your choice.
5. After you send 60001 TRAID coins to your default address and when the transaction gets 1 or more confirmations you can navigate to the “Send” tab and paste your “MN” address from your text editor into the “PAY TO” field, now the label should automatically change to the label of your address. Send EXACTLY 60000 coins and click “Send” located in the bottom right corner and then confirm by pressing “Yes” in the pop-up screen (you’re sending the masternode collateral to yourself).
6. Navigate to “Help -> Debug Window”, in the “Console” window you’ll need to type:
Then hit ENTER and copy the result (paste it into the text file where you stored your MN address). The console should give you the output similar to:
5dTjd1QpbisUWgtQhXAQbGDJBi6qDew1ask3lkfnvjdjH3h (this is your masternode private key).
7. Next you’ll need to type:
Then hit enter. The output should give you something similar to this:
45e5fb9086ded1efbd5523aa25fe08ebb23yh67c7283e78d87b3bf4f2bd29dbd(transaction id) : 0 (transaction index)
Copy it to your text editor where you already copied the outputs from previous steps.
* NOTE! If you get an empty message after using the masternode outputs command you’ll need to wait for at least 1 confirmation on the network.
8. Now navigate to “Masternodes” then “My Masternodes” and hit create button. Then you will need to enter the information from your text editor.
Alias: Your Masternode Label (can be whatever you like as long as it’s one word without spaces)
Address: VPS IP ADDRESS:53569
PrivKey: the result from masternode genkey
TxHash: the 1st part of masternode outputs
Output Index: the 2nd part of masternode outputs
RewardAddress: This option was removed in the last update so you leave it blank
Reward %: Since RewardAddress was removed this option should be excluded as well
Now press OKand lets proceed to VPS setup.
* NOTE! < > symbols point out that the content inside < > is the command that you enter. Do not type < > in the terminal window.
1. Log into your VPS with any desired ssh client.
2. Type in <wget https://github.com/TraidPlatform/traidcoin/releases/download/v22.214.171.124/traid-easy-mn.tar.gz> and press enter.
3. Type in <tar -xvzf traid-easy-mn.tar.gz> and press enter.
4. Type in <chmod +x traid-easy-mn> and press enter.
5. Start it by typing in <./traid-easy-mn>
The proccess is almost complete. Traid-easy-mn script now needs your VPS IP address as well as the masternode priv key, which you already generated on your local machine. Type in all the required info and you’re done. Traid-easy-mn script will build the Traid wallet from source and start your wallet.
After Traid-easy-mn script finishes it will start the wallet as shown in the output.
Congratulations! your VPS has successfully been setup!
Now complete these steps to finish setting up your masternode:
1. Restart TRAID wallet on your local machine.
2. Wait for your VPS to sync. You can check by typing <./traidd getinfo> to see if the block height matches the block height on our official explorer at https://explorer.traid.tv/
3. Once your local wallet is restarted, make sure you fully unlock it (not just for staking) and that confirmations of your transaction which includes TRAAID collateral exceeds 30.
4. Now go to the “My Masternodes” tab and click start-all.
5. Then go back to your VPS and type <./traidd masternode status> to see the status of your masternode.
That’s it, you are all set!
If you have any issues setting up your masternode, you can hit up one of the admins on our Discord https://discord.gg/tEUt4aX