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There is big news coming from one of the biggest shakers of coins that generated from the Ethereum code base. PIRL announced yesterday that there are new features to their Poseidon suite including two new types of Masternodes.
Poseidon was released and is the core foundation to PIRL’s vast list of new features. The PIRL development team has included a basic block explorer. The development team also stated that the first steps have been implemented to start developing the PIRL payment gateway.
Wait, did you say two new types of masternodes!?
I did, and they’re pretty unique in what they do for the PIRL network. The first type of new masternode is the “PIRL Content Masternode”.
What’s a Content Masternode?
The PIRL Content masternode will utilize IPFS technology that hosts files for use on the Poseidon marketplace and decentralized applications. With this innovation, the marketplace and other dApps that make use of the PIRL block chain will be able to store files like images, video, and many other content types.
The second type of masternode will be a private solution for storage applications.
So what’s a storage masternode?
The storage masternode is a private storage application that opens new doors for the marketplace. PIRL states that “users will be able to offer digital downloadable goods directly on the marketplace”. People using the marketplace will be able to purchase media directly which will allow those that create the opportunity to put their work for sale on the marketplace in exchange for PIRL without the need for a middle man.
Another real world application for the private storage option is backups. Almost everyone now days has a backup of something. Whether it be personal photos, a digital copy of a purchased movie, music, you name it. PIRL aims to offer a decentralized, redundant, and encrypted backup solution that will tempt businesses towards the PIRL platform.
Currently, a “PIRL Premium Masternode” is the only node in beta testing. You can grab a premium masternode for only 20,000 PIRL and the additional necessity of a dedicated server with a dedicated IP address.
A premium masternode will run all three node binaries (main, collateral, and storage). The rewards for a premium masternode is 1 PIRL per block mined and the respective rewards for both of the other nodes. The return on the other two nodes (content and storage) are based off of bandwidth and storage space used.
The other two nodes come in at 10,000 PIRL each for collateral and have the same requirements of a dedicated Linux server as well as a dedicated IP address. The only difference in these two masternodes other than price is the fact that you will only run the respective node binary (content or storage) and only be paid based off of disk and/or bandwidth used.
The Pirl team states that the current server specifications to run any masternode are the following:
- 4GB Memory
- 20GB Hard Drive Space
- 3TB Data Transfer
While I believe the bandwidth requirement is sufficient starting out. I do not believe the required disk space will be sufficient at a later date. I would expect the development team to further increase the server specification requirements at a later date. While 20GB may be enough for small static files, they should also think ahead for those business applications that need very large storage applications.
As there are currently 161 masternodes online and given the promise of redundant file storage, if 161 masternodes are running with 20gb we’re left with 1.6TB (I cut the total in half if we’re mirroring files to offer redundancy). This could be quickly filled by a business application.
While most dedicated server providers offer a cheap 1TB drive in raid even on the low end of things, I think that is a good starting point. After all, the masternode is a quintessential part of the PIRL networks’ stability, we should probably put a little more scrutiny in what hardware we’re using for a masternode.
While I understand we’re not needing a server with the processing power of a CIA Intelligence super computer and only basic CPU and Memory is required, the storage space requirement needs a second look.
Full Masternode Rewards Have Been Launched
In their release, PIRL developers also stated that they will “roll out full masternode rewards … midnight, February 7th”. As of right now, all masternodes are currently getting full payouts from their masternodes which is a huge leap in the right direction.
I remain excited and positive in all aspects of the PIRL project and am happy to see them progressing steadily towards the end goal of real world applications and have an abundance of faith in the developers behind the PIRL cryptocurrency.
So what do you think, do you think that PIRL presents a real world use application? Let us know in the comments or on our discord by clicking the link at the very top of our website!