With the renewed interest in alt-coins, we are renewing our interest in Ethereum and Dash coins. As part of that we are sharing our guide on how to create a dash masternode. Much has changed since we originally launched our masternodes in v11 so we are trying to dust off our Dash knowledge and share with everyone how to get one going.
In order to get started, let’s make a quick checklist of what we need:
- 1,000 DASH
- The latest DASH wallet, which can always be found here: https://www.dashpay.io/downloads/
- An account with a VM provider (We will use Azure here)
For security purposes we are going to be running a cold wallet here. I know it is bothersome but it is the best way to keep your Dash safe having it on cold storage.
I. General Advice
Here is a list of general advices that apply throughout the guide through. Please keep them in mind as you work with your wallet and masternodes:
- Never copy Wallet.Dat when your wallet is running! Please use the Backup Wallet command from within your wallet instead.
- If your Dash wallet is running, it is good practice to shut it down before editing the masternode.conf file.
- Don’t forget to backup your wallet
II. Getting your Dash Wallet up and running
If you already have done this, you can skip this whole section. Basically we are going to do the following steps:
- Download the latest client ()
- Let the client sync
- Encrypt your wallet (Settings –> Encrypt Wallet)
- Backup your wallet (File –> Backup Wallet)
III. Getting your server up and running for your masternode
There are several options here, but we are going to focus on getting an Ubuntu server on a Microsoft’s Azure VM. We use Azure mostly as a personal preference. We already have different services with them so we are comfortable and familiar with their offerings. You don’t necessarily need to pay for a VM with Microsoft, there are others like Google, Amazon, Vultr, etc. you could use. We like Google’s sustained usage discount and Vultr’s ease of use if you want alternatives.
So let’s get on with it!
- Create a new VM based out of Ubuntu. Azure currently has the “Ubuntu Server 14.04 LTS” image at your disposal.
- Do some research on how to secure your server
Go to your Dash data directory.
If you see a masternode.conf file, open it with the text editor of your choice.
If you don’t see a masternode.conf file, create one with your text editor.