Syscoin Masternode Setup

The process of setting up a remote SYS 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.

  • 100,001 SYS coins. You only need 100,000 for your masternode, but do need a bit more to make the transactions.
  • Latest version of the SYS wallet – check the Syscoin website for the official version
  • Order Hosting from NODEshare
  • 10 minutes of your time

Step 1 – Enable Coin Control and Masternode tab

Even though not required to setup your masternode, it’s a good practice to enable coin control. It’s in the wallet’s settings. You can read more about using coin control in our FAQ

 

Step 2 – Create Receive Address

You need a new address to deposit your masternode collateral into. We generate this through the wallet.

Click Receive and type your masternodes alias into the “Label” field. The alias can be anything, we often go with MN01 or MN02. Then click Request Payment.

Copy the Address and close the pop-up window.

Step 3 – Transfer funds

Now you need to transfer 100,000 SYS in one single transaction to this address. The Syscoin wallet will add the fee automatically.

In the Syscoin wallet select the SEND tab and follow these steps:

  1. Paste the address from Step 2 in the “Pay To:” field
  2. Type 100,000 in the “Amount:” field
  3. Click “Send” at the bottom left
  4. Acknowledge the fees and click yes.

Step 4 – Email NODEshare your Address

You will receive an email with the title “Syscoin Masternode Subscription Confirmation”. Simply reply to this email with your address from Step 2 in the message and send it back to us.

Step 5 – Configure your local wallet

NODEshare will send you a masternode configuration that you will need to paste into your masternode file.

In your Syscoin wallet, click on “Tools -> Open Masternode Configuration File”. This will open the default configuration file. You can delete all its contents and replace it with the details received by NODEshare.

Please ensure to copy and paste the full details into your file without additional characters.

Step 6 – Restart Wallet and Start Masternode

Restart the wallet so the changes from the masternode configuration take effect.

Navigate to the masternode tab and you should see your masternode as missing. Click on “Start Missing” to start the masternode.

Happy Staking!

 

Step 7 – Troubleshooting

In case of problems see the following articles in our FAQ:

  • Make sure your wallet is fully synced
  • Double check your masternode configuration
  • Start your node using the debug console running the following command:
startmasternode alias 0 mn01

MN01 being the label of the masternode, which might be MN01, Sys101 etc.

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