In this Tutorial we will describe you step by step how to setup one/multiple Masternodes with a so called HOT (local) and COLD (virtual) Wallet setup. The big benefit of a setup like this is that you have your Coins stored localy and the Masternode Wallets on your virtual Server are empty Wallets using just a config file. We will also show the possibility how to setup multiple Masternodes on one virtual Server.
- minimum 2000 $MONK on your local Wallet
- rent a Ubuntu 16.0.4 virtual server
- A tool ( for example Putty ) to connect to your Server
DEPLOY AN UBUNTU SERVER
HOST SERVER ON VULTR
We recommend to use VULTR instances for our Masternodes since they can be terminated 24/7 whenever you decide to stop your Masternode Server payments stop.
First you have to Deploy a new Server on your VULTR web interface using the button in the top right corner.
Please make sure you select Ubuntu 16.04 x64 as Server. Depending on the Number of Masternodes you want to host you have to select the size of your Server.
1-5 Masternodes can be hosted on a 5$/mo Server. 5-15 Masternodes require a 10$/mo Server.
As a final step you simply have to define any name you like for the Server and then you can start the Service.
PREPARE LOCAL HOT WALLET
CREATE A MASTERNODE ADDRESS
Navigate to File > Receiving addresses.
Create a New Address. Copy this Address by right clicking on it.
SEND 2000 $MONK TO YOUR NEW ADDRESS
Navigate to your SENDING Tab and enter your new Address as Receiver.
Make sure you send exactly 2000 $MONK to your new Address. Wait for at least 6 confirmations before you move to the next step.
PREPARE THE MASTERNODE.CONF
The last step on your HOT Wallet is the preperation of the masternode.conf. Please use the Menu “TOOLS” – “EDIT MASTERNODE.CONF” and open the masternode.conf file.
Leave this File open and go back to your MONKEY Wallet. Now open “TOOLS” – “DEBUG” and navigate to the Console.
Type masternode outputs
Copy paste this values into your masternode.conf with the following structure:
alias IP:port masternodeprivkey collateral_output_txid collateral_output_index
MN01 127.0.0.2:8710 masternodeprivkey 2bcd3c84c84f87eaa86e4e56834c92927a07f9e18718810b92e0d0324456a67c 0
alias has to be replaced with any name you want to use to identify your Masternode
IP:port has to be replaced with the virtual Server IP you rented at CHECKLIST. You can use every port you like. We use 8001 for our Tutorial.
masternodeprivkey has to be replaced with the key generated after your Masternode is installed. The script will generate it for you.
collateral_output_txid is the txhash info your masternode outputs
collateral_output_index is the outputidx of your masternode outputs
The final Result on our Tutorial will look like this:
Once you entered this information you can save the masternode.conf file and your HOT Wallet is prepared.
You can restart your HOT Wallet now and you will see that 2000 $MONK are locked at Coincontrol:
You will also see Masternode at the MASTERNODE Tab of your Wallet now:
Please don’t start it now. We first have to prepare the cold Wallet.
MULTIPLE COLD WALLETS ON ONE SERVER
CONNECT TO THE VIRTUAL SERVER
Use Putty on Windows or Termius on Mac (or any other ssh client)
Enter the IP of your Server and press connect.
Enter your login credentials when asked for. Default username is root. Password can be found on VULTR.
When you connected successfully you will see a shell similar to this:
Now you have to download our automatic install script to your ubuntu machine.
First of all you got to use a wget command – just copy paste this in your shell:
wget https://raw.githubusercontent.com/MONKEYPROJECT/Guides/master/monk.sh -O monk.sh && chmod 755 monk.sh && ./monk.sh
The script will be fetched within a very short period of time.
Script monk.sh contains some useful tools to install, analize and repair your masternode from a command line menu.
Next step choose 6. INSTALL NEW NODE (type 6, press ENTER).
This step is important depending on if you already installed a Masternode before, or not!
If its your first time you host a Masternode on the Ubuntu Server, please type y – if you installed a Masternode before and only want to add a new one you can choose n.
In the next step the script will ask you how many Masternodes you want to setup. In our Tutorial we will choose 1 but you can put up to 8 on a 5$ Server and up to 15 on a 10$ Server of VULTR.
Then you have to answer if you want to automatically start your masternode wallet if server reboots, if you choose n then you will have to start your wallet manually if vps restart:
In the next Step you can define an unique alias for each Masternode, its recommended to number those.
Now the script will
- Install wallet using bootstrap
- Create CLI script for executing commands in command line (for example getinfo, masternode status so on…)
- Generate masternode priv key
- Set port and RPC date (user, password, port,…)
- Restart wallet
! VERY IMPORTANT !
At the end when you finish to setting your masternode (or more of them) the MAIN MENU will reappear but above you will see data that you have to put in your HOT WALLET masternode.conf
Copy this text into masternode.conf in hot wallet
Replace txhash and outputidx with values from your hot wallet using masterndoe outputs command in console.
OTHER COMMANDS IN SCRIPT
- LIST ALL NODES – show all nodes
- CHECK NODES SYNC – check if wallets are SYNCED
- RESYNC NODE OUT OF SYNC – check wallets and if finds any that is not synced (on wrong chain) will automatically resync it with newest bootstrap.
- RESTART NODE – will execute command to start wallets or just a specific wallet
- STOP NODE – will execute command to stop wallets or just a specific wallet
- INSTALL NEW NODES – will install a new cold wallet or more of them
- CHECK NODE STATUS – will execute command masternode status on wallets
- EXIT – will empty script.