Are masternodes by their nature always "hot"?

eerygarden

eerygarden

Member
The first thing that I learned when I entered the cryptosphere was that the only truly secure way to store your cryptocurrency was cold storage. If I wanted to run a masternode do I have to accept that cold storage is not an option?
 
Your masternode does not hold your funds. They are in your local wallet, i.e. cold storage.
 
from what I gather it needs to be in Dash-QT but doesn't this need to download the entire blockchain and if so how can this be cold storage?
 
To run a masternode you need:
1. On your local computer: Dash-QT safely holding your 1000 Dash
2. On a remote VPS: dashd (Linux version) remotely started by your local Dash-QT. This is the masternode.

Both have a full copy of the blockchain. The blockchain has nothing to do with the "cold wallet" label.
 
daf said:
To run a masternode you need:
1. On your local computer: Dash-QT safely holding your 1000 Dash
2. On a remote VPS: dashd (Linux version) remotely started by your local Dash-QT. This is the masternode.

Both have a full copy of the blockchain. The blockchain has nothing to do with the "cold wallet" label.
Click to expand...

Hmmm. Does my copy of dash-qt need to keep up to date with the blockchain and remain on permanently?

At what point do i create the wallet? After it has synced? Before? If i store the wallet offline can i run/do i need to run qt without the wallet opened?

Please forgive my ignorance.
 
eerygarden said:
Hmmm. Does my copy of dash-qt need to keep up to date with the blockchain and remain on permanently?

At what point do i create the wallet? After it has synced? Before? If i store the wallet offline can i run/do i need to run qt without the wallet opened?

Please forgive my ignorance.
Click to expand...

No problem, I've been at the same stage before. ;-) And welcome to the community.

After remotely starting your masternode, your local QT wallet can be closed.

For your other questions, please read the excellent (but lengthy) Tao's guide for masternode setup:
https://www.dash.org/forum/threads/taos-masternode-setup-guide-for-dummies-updated-for-12-1.2680/
Most people, including me, learnt what a masternode is and how it works by reading this guide.
 
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