Masternode questions

[SuchDash]

I've been looking into masternodes and would like to double check that I understood things correctly. Are these points correct?

* A masternode is software that needs to always be online and is typically run on a VPS
* The masternode software itself does not have a wallet or access to a wallet (ie having the private key of one)
* In your wallet with 1000 dash, you enter info that links your masetrnode to it
* The wallet with 1000 dash, after initial setup, does not need to remain online for the masternode to function

 

[strophy]

Yes, your understanding of these points is correct. The link between the wallet (ideally a hardware wallet like Trezor) and the masternode is established through the txid of the 1000 dash funding collateral and a separate private key for the masternode, which also allows you to vote. You issue a start command from the address with the 1000 dash and then the wallet can be taken offline. For more information, see here: https://dashpay.atlassian.net/wiki/spaces/DOC/pages/33947684/Understanding+masternodes

 

[SuchDash]

Thanks a lot

One more:

* The masternode private key is generated in the wallet and only used in the dash config (.dashcore/dash.conf) on the box running the wallet. In other words, it never is given to the box running the masternode software.

 

[strophy]

No, the masternode private key must be in dash.conf (masternodeprivkey) of the masternode and masternode.conf of the wallet used to start the masternode. If using a hardware wallet, DMT takes care of most of this.