ColossusXT Masternode Setup

The process of setting up a remote COLX Masternode may seem daunting but you only need to follow a few steps.

Start with the checklist and work your way through the steps.

Step 0 – Checklist

You will need the following.

  • 10,000,010 COLX coins. You only need 10,000,000 for your masternode, but do need a bit more to make the transactions.
  • Latest version of the COLX wallet – check the ColossusCoinXT website for the official version
  • 10 minutes of your time

Step 1 – Create a new address

We need a brand new address to set up the masternode.

Open your wallet and select Receive. Enter a new address Label and click on receive and copy the newly created address.

Step 2 – Transfer funds

Now you need to transfer 10,000,000 COLX to this address. Do not alter the amount of 10,000,000 COLX and send the amount in one single transaction.

Simply double click on the address you created in Step 1, and copy it.

Then switch to the SEND tab, paste the address (note how the label changes accordingly) and fill in the amount.

Click Send – a screen will pop up to confirm the transaction fee. Confirm the fee and transaction.

NOTE: If you have a masternode already set up, you MUST use COIN CONTROL (see Step 5 on how to activate it) so coins are not sent from an existing Masternode.

Step 3 – Sign up for NODEshare hosting and send through your address

Now you have completed the first part of setting up the Masternode. You can now purchase a NODEshare subscription and then reply to the email with the address you generated in step 1.

We will then set up your node and send through a masternode configuration file. This file will allow you to start your masternode.

Step 4 – Configuring your Masternode

NODEshare will send through a configuration file for you to put into your ColossusCoin folder. This folder is in your %APPDATA% directory. From your start menu, enter %APPDATA% into your search box. Or open a Windows Explorer as in the image below.

If you can not see APPDATA – use this link on Microsoft for help. If you use an OS X wallet your directory will be in ~/Library/Application Support/ColossusCoin.

Here you will need to paste the masternode.conf file that you receive via email.

Copy and paste the masternode.conf over the existing one and confirm that you want to overwrite the existing file

Then re-open your wallet.

Note: if you already have a masternode running please advise the NODEshare Team

Step 5 – Enable Coin Control

In order to start your masternode you will need to unlock the collateral amount you transferred in Step 2. You will need Coin Control to do so.

Go to Settings, select Options, Wallet, and tick Enable Coin Control. If you are using an OS X please check our FAQ to see how this is done on there.

Step 6 – Start your masternode

Before starting, verify that your wallet is unlocked. This is important, else your Masternode will not start.

Go back to the Send tab, click on Coin Control and then unlock the 10,000,000 collateral as shown in the image below.

Open the debug console and start your masternode by running the following command:

masternode start-alias ALIAS

The ALIAS of the Masternode will be provided by NODEshare as part of the masternode.conf. It is the first letters and numbers before a space of the masternode.conf, typically COLX1367 or similar.

A message will appear that the Masternode was started successfully. Happy Dividends!