Masternodes on SliceLedger Chain
SliceLedger Masternode is a server that contributes to SliceLedger Chain by creating, verifying and validating blocks of transactions on the SliceLedger Chain network. Masternode receives rewards in SLICE in exchange for its contribution.
SliceLedger Chain has total of 251 Masternodes running on Proof of Stake (PoS) mechanism combined with Proof Of Play (PoP) consensus to enables high speed transactions and lower fees.
Masternodes are chosen from the total Candidate Masternodes on the basis of total highest votes. In order to become Candidate Masternode, the participant is required to deposit 50,000 SLICE. Candidate will become Masternode when they are in top 251 most voted candidates during the epoch. Each epoch consists of 900 blocks.
The reward every Masternode operator receive is totally dependent on the number of signatures it signs during the epoch. Every transaction that take place and is validated, shares the transaction fees as rewards to the Masternode and its voters. Masternode operators and voters will receive rewards at every transaction.
Voters: Voters stake their SLICE with Masternode which makes higher chances for masternodes to be selected for becoming validators. Anyone with SLICE can become voters. The total amount of SLICE staked by voters makes addition to the masternode’s capacity. For example, if a candidate node has 15 voters with total of 15,000 SLICE then the masternode capacity is 65,000 SLICE. (50,000 SLICE Masternode deposit + 15,000 from voters) If a Masternode does not produce block during the epoch, it is penalized and will not be rewarded for next five epoch. These masternodes are flagged as Slashed nodes. Slashed nodes will start getting rewards only after it produce block in next epoch and if it fails to do so, it will still be in slashed nodes and does not get any rewards.
Transaction Rewards: Masternode receives rewards on each signature is sign. The expected reward a Masternode will get is 0.00002625 SLICE on every transaction (executed with 1 gwei).
Whenever a Masternode decide to resign, its deposit of 50,000 SLICE will be locked for next 30 days. Node operator address will only be able to move locked assets after 30 days.
Voters can earn reward by staking SLICE to the Masternodes. Voters are rewarded on the basis of their share in total staking amount of masternode. There are no limitation for voters to stake SLICE to a masternode. Voters can vote multiple masternodes at the same time to maximize their earning.