There are many different ways to set-up a masternode. This method requires a Virtual Private Server, eliminating the need to run your own computer 24/7. Your funds are also safely stored on your local wallet, not the VPS.
The following requirements are needed to set-up a Masternode using this guide.
- A fully synced local wallet – download from https://snowgem.org/#wallet
- 10,000 XSG + 1 XSG for transaction fees (I recommend having the funds in your wallet from the beginning)
- A Virtual Private Server (VPS). Any VPS should work. Windows 10/Windows 7 is good – I recommend to purchase from: https://www.vultr.com/ or https://billing.time4vps.eu/
An XS VPS (from time4vps.eu) or 5 USD (from vultr) server is enough for 1 masternode.
1 Masternode will work on 512 RAM or more, 1 Core CPU, 20 GB or more HDD.
- Download and install Putty from: www.putty.org
- Desktop Notepad for record keeping
- An ability to follow instructions 🙂
Create a MasterNode Address (ALIAS) & send collateral
Open the Simple wallet, copy collateral address to notepad (do not use z address).
Next you will need to send the collateral (EXACTLY 10000 XSG) to this address. If you have “bad-txns-oversize” error when sending the coin, please following the guide from https://snowgem.org/faq
Go to Masternode tab (On the wallet which you received 10000 XSG) and click on “Get MN Priv Key” button, then copy the private key to notepad
The privakey looks like this: 5JJaWWprqeNLwEYd5JucbUne68m51yumu5Peen5j5hrg4nrjej4
Click on “Get Outputs” button, then copy outputs to notepad
The outputs looks like this: 8b70363be7e585dde357124e67b182da25053d2f45c8454t4t45e4r5edddgdr4 0
Click on “Configure Masternode” button then put your data here – Alias name must not contain white space
Then Click on Configure. A restart message will be appeared and you need to restart your wallet to apply the new configuration.
Excellent, you’ve just done the local setup, your MN will be listed under Masternode tab.
If you use Windows 7, download .NET 4.5 here and install: https://www.microsoft.com/en-us/download/details.aspx?id=30653
Download the wallet and open it.
Go to AppData folder: https://www.howtogeek.com/318177/what-is-the-appdata-folder-in-windows/
Go to SnowGem folder (if it’s not exist, create it).
Next, open “snowgem.conf” (if it’s not exist, create it) with Notepad and add the following: (change the text in bold)
rpcallowip=127.0.0.1 rpcuser=ANY_LONG_USERNAME rpcpassword=ANY_LONG_PASSWORD server=1 listen=1 port=16113 masternode=1 txindex=1 masternodeaddr=VPS_IP:16113 externalip=VPS_IP:16113 masternodeprivkey=PRIVATE_KEY
Open file “masternode.conf” (if it’s not exist, create it)
Add a line below the text containing this information: make sure to include the port after the IP address (:16113)
ALIAS VPS_IP:16113 PRIVATE_KEY TRANSACTION_ID INDEX_ID
Open Wallet and waiting for syncing process.
Go to Masternode tab, waiting for all masternodes or wait for the counter back to 1 (about 60 secs).
Choose mn1 row then click on “Start MN” button, the success message will be displayed.
Then click on “Start Alias” button, , the success message will be displayed.
Wait for some seconds then click on “Refresh” button, your Masternode will be listed here. At the beginning, the active time maybe negative.
If you want to run multiple MNs from 1 wallet, please follow this guide: Setup Multiple SnowGem Masternodes