Upcoming: Stratis Announces Sidechain Masternodes
Proof-of-stake network, Stratis, announced the launch of masternodes for the Cirrus sidechain about a month ago. They will be adding two new so-called low-tier masternodes on Cirrus, a sidechain attached to the main Stratis network.
The new addition will allow token holders to operate two types of nodes on the sidechain – the Cirrus Chain Federated Masternode and the Multi-Sig Masternode for a start. The idea behind building sidechains is to promote scalability and as a private blockchain for businesses.
The Federated Masternode allows block production earning transaction fees from smart contracts executed on the chain. The collateral for operating this type of node is 10,000 STRAT. Multi-Sig masternodes perform the same function of producing blocks in addition to creating multi-sig addresses for added security. The collateral for a Miulti-Sig masternode is 50,000 STRAT.
There is a downside to the Cirrus sidechain, and that is the fact that the team has made provision for only 101 masternodes in this initial phase. What this means is that the probability of getting selected as a masternode operator is quite slim.
The signup for Masternodes have already started since March 6 and coin collaterals will be held in a special wallet on the sidechain.