A new to masternodes

A

Anewdashy

New member
Hello, I have a question regarding MN, As a paranoid person and as I understand you need to send the 1000 Dash to the newly generated MN Address, And then If I run the VPS I have to leave the privatekey of the running core, What If the VPS Is hacked will my dash be at risk?
And i've read online that MN funds will be locked, I'd like to understand what's that suppose to mean
as If I can't send for a period of time?
Sorry for the newbie-questions.
 
To be secure, you put the 1000 dash on a hardware wallet (such as a trezor). The private key never leaves the trezor. You use an application called DMT (Dash Masternode Tool) to manage things, such as extracting payments.

The payment is not "locked", you just keep it there and don't move it. You can spend it anytime, but then you'd lose your masternode status.
 
You don't send your private key anywhere. There is a key that is generated for the MN, but that is not your private key for the wallet.
Nothing that could be used to steal your Dash is present on the VPS.
 
Thanks a lot guys for the Insight,
I've seen many tutorials, It's saying that I should generate a new MN address and then send all the dash there so I can get a collateral tx and Index, Sorry confused here If I send the dash to the MN address will they be able to hack It with MN private key ?
 
Hey there,
the private key to the address holding the 1000 Dash collateral and the masternode private key are NOT the same keys. A masternode private key can only be used to start/stop a masternode (just the dash daemon, a piece of software) and to cast votes for proposals. It can't be used to spend the collateral, so even if a masternode is hacked, the most a hacker can do is turn off the masternode. The 1000 Dash is NOT stored on the masternode, it remains in your hardware wallet.

See here for more details: https://dashpay.atlassian.net/wiki/spaces/DOC/pages/33947684/Understanding+masternodes
 
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