Allnodes has grown to become a prominent name in the masternode hosting niche, with over 44,000 nodes under its management. In an exclusive interview, I had the opportunity to engage with founder and CEO Konstantin Boyko-Romanovsky in a discussion that delved into the intricacies of the masternode landscape.
Our conversation explored vital topics such as the evolving profitability of masternodes, navigating upcoming regulatory frameworks, and the strategic positioning of specific projects like Dash, Horizen, and PIVX within the ecosystem. Let’s dive right in…
Can you tell us more about Allnodes? What differentiates you from other masternode hosting providers?
Allnodes offers a versatile hosting solution with shared or dedicated VPS hosting for more than 70 different protocols, of which 20 are masternode cryptocurrencies. Our pricing is not only competitive but often more affordable, providing users with the flexibility to select a service that aligns perfectly with their requirements. Over the past five years, Allnodes has consistently demonstrated its commitment to stability, reliability, and security, establishing itself as a trusted platform for masternode hosting.
Allnodes was founded in 2017 during the height of the ICO era. How would you describe the transformation and changes in the cryptocurrency sector in the last five years?
The 2017 ICO boom was a game-changer, putting cryptocurrencies on everyone’s radar. From then on, it wasn’t just tech enthusiasts paying attention – big businesses, financial powerhouses, and even governments started to see the potential of blockchain tech. But the innovation didn’t stop there. With breakthroughs in technology, we’ve seen the rise of DeFi and NFTs, pushing the boundaries of what we thought was possible with blockchain. As we moved forward, staking and liquid staking started to make waves, adding a new dimension to the crypto landscape.
We look forward to what the future holds for our industry.
Allnodes recently reached the milestone of launching its 44,000th node. What would you say has been responsible for the platform’s success?
A significant part of our success at Allnodes comes from the simplicity we offer. Our platform is incredibly user-friendly, making the setup and management of nodes straightforward. We also prioritize security and reliability, providing our users with a sense of confidence. Additionally, we support a wide variety of coins and offer competitive pricing. But what truly distinguishes us is our commitment to customer service and community engagement. We’ve managed to build a loyal user base that continues to expand.
Let’s be honest, masternodes are no longer the hottest kid on the block. Is running a masternode still as profitable as it was? Given the declining patronage, do you think that the sector would slowly fade into oblivion?
Masternode, as a word, might have lost its buzz-worthiness. But that’s because there is another word you hear a lot these days – validator. That’s precisely the case with Ethereum, for example. Ethereum validator nodes are essentially masternodes with similar functions, collateral requirements, returns, and infrastructure requirements. They are more alike than they are different. Theoretically, Avalanche, Symbol, and Fantom nodes are also quite similar to masternodes, with the primary differences being that they allow delegations and do not require a fixed amount of collateral.
It is true, of course, that subtle distinctions between masternodes and validators exist, but it is also true that, in some cases, one word simply replaced another. The crypto world is a whirlwind of change and innovation. Despite the differences or similarities between a masternode and a validator, the former is still the backbone of many networks.
In March 2023, Allnodes partnered with MetaMask Institutional on the launch of the first institutional staking marketplace. Can you provide some details of the partnership and what it means for the staking and masternode community?
Our collaboration with MetaMask Institutional in March marked a pivotal moment for us at Allnodes, and it’s revolutionizing the way institutional investors engage with staking. This partnership has opened doors for these investors to delve into staking activities, offering them the familiarity and ease they expect in traditional markets. It indicates the increasing acceptance of staking as a credible investment avenue. It also highlights our role at Allnodes in bridging the gap between traditional finance and the world of decentralized finance.
Can you share some interesting masternode insights and stats from your platform with our audience?
Take Dash, for example, which is a well-known masternode blockchain offering fast, inexpensive, and private peer-to-peer transactions. Among the various masternodes, Dash stands out for its stability, reliability, and minimal issues. Moreover, when weighing the hosting expenses against the potential monthly returns, Dash emerges as the most lucrative masternode.
Dash is an excellent choice for individuals looking for a strong market presence, solid technology, and consistent returns. At Allnodes, our Dash community, fondly known as ‘Dashers,’ can expect a 7.70% APR on their Dash masternode. Additionally, they can host their masternode for just $4.5 per month. It’s worth noting that we proudly host 10% of all Dash masternodes worldwide.
Horizen stands out in the masternode landscape with its unique dual-node system, featuring both Secure Nodes and Super Nodes. Horizen Secure Nodes may not be the most lucrative when comparing the monthly hosting expenses to the potential monthly income. In addition, the Horizen nodes are very complex to set up—perhaps even the most complex. Yet, for those prioritizing transactional privacy and security, Horizen presents a compelling proposition.
The easiest masternode to set up is PIVX. It also comes with low collateral requirements when compared with other masternodes. It costs only 10,000 PIV, roughly $2,896 per masternode according to today’s prices, which is significantly lower than other masternodes such as Dash and Horizen.
These are just a few examples of our platform’s diverse range of masternode cryptocurrencies. Each offers unique features and benefits, allowing for various investment strategies depending on your goals and interests.
From your operations, what are the top five masternode projects?
From our operational perspective, the leading five masternode projects, ranked by the volume of masternodes we host on the Allnodes platform, are Horizen, FIRO, Syscoin, Dash, and PIVX in descending order.
Like the ICO era, many masternode projects are no longer operational. In your opinion, what is the reason for the demise of many projects?
It’s like any start-up scene when we look at why many masternode projects didn’t make it. Some projects got caught up in the hype without a solid plan for profitability. It’s like throwing a big opening party without knowing how you’ll pay the bills when the party’s over.
The crypto world moves fast, and you’ve got to keep up. Some projects couldn’t innovate or stand out from the crowd, and they just couldn’t keep people’s interest. So, it’s not just about having a great idea. It’s also about running a tight ship and staying ahead of the curve. The crypto world is a challenging but exciting place where only the fittest survive.
There’s been a lot of talk about regulation. Do you think the crypto market, and by extension, masternodes, should be regulated?
That’s a great question and a hot topic in the crypto space. When it comes to regulation, it’s about finding a balance. On the one hand, you’ve got the freedom and innovation that the crypto world offers; on the other, you need safety and protection for users. With regulation, we can bring some law and order, making it safer for people to get involved.
But we have to be careful. Applying traditional regulations to the crypto world is like trying to measure the speed of a rocket with a sundial. It’s just not designed for that kind of environment.
We need new regulations to navigate this exciting but often volatile landscape. These rules should be crafted with care, considering the unique nature of blockchain technology and cryptocurrencies.
The goal should be to protect users but also to support the blockchains themselves. Just as a gardener tames but also nurtures the growth of a wild garden, we need regulations that can guide this new financial ecosystem toward a mature and stable future without stifling its innovative spirit.
Are there any upcoming features, updates, or events that you’d like to talk about?
Our platform always evolves, with new features and protocols regularly coming online. The best way to keep track of all these exciting developments is to connect with us on Twitter and Telegram. It’s there that we share all the latest news and updates. We’ve got a vibrant community, and we love to engage with our users.
So, whether you’re already part of our community or just curious about what we’re up to, we welcome you to join the conversation. We’re excited about the future and hope to share that journey with you on our platform. Looking forward to seeing you there!
