for Webgames platform.
- Road Map
- Masternodes BULP
Users are also rewarded for running and maintaining special servers called masternodes. Thanks to this innovative two-tiered network, BulpCoin can offer innovative features in a reliable and decentralized way. Masternodes are used to power PrivateSend, InstantSend, and the governance and treasury system. Users are rewarded for performing masternodes: 80% of the block reward is allocated to pay for the masternode network. Masternodes are responsible for processing PrivateSend and InstantSend. The owners of Masternode must have 1,000 of BulpCoin, which they prove by signing a message and transmitting to the network. These coins can be moved at any time, but moving them will cause the masternode to fall out of the queue and stop winning rewards. Masternode users also receive voting rights in the proposals. Each masternode has one vote and this vote can be used in budget proposals or important decisions that affect BulpCoin. Masternodes cost money and effort to host, so they get a percentage of the bulk reward as an incentive, which is 70% of Block Reward.
PrivateSend offers real financial privacy by obscuring the origins of your funds. All the BulpCoin in your wallet is made up of different entries, which you can consider as separate and discrete coins. PrivateSend uses an innovative process to mix your entries with the entries of two other people without your coins coming out of your wallet. You keep track of your money at all times.
By using a two-level network, BulpCoin is able to quickly confirm transactions much faster than most other networks. Traditional decentralized cryptograms should wait for a certain period of time for sufficient blocks to pass to ensure that a transaction is irreversible and not an attempt to spend twice the money that has already been spent elsewhere. This process is time-consuming and can take from 15 minutes to an hour for the widely accepted number of six blocks to accumulate. Other crypto-currencies achieve faster transaction commit times by centralizing authority on the network to varying degrees. BulpCoin does not suffer from these limitations thanks to its second network of masternodes. Masternodes can be called to form quorums of votes to check whether a submitted transaction is valid or not. If it is valid, the masternodes "block" the inputs to the transaction and transmit that information to the network, effectively promising that the transaction will be included in the mined blocks subsequently and not allowing any further expenditure of those entries during the confirmation time period. InstantSend technology will enable encrypted coins, such as BulpCoin, to compete with near-instant transaction systems such as credit cards for point-of-sale situations without relying on centralized authority. The widespread acceptance of BulpCoin and InstantSend vendors could revolutionize the crypto-currency by shortening the delay on one-hour transaction confirmation (with Bitcoin) to just a few seconds. By using InstantSend, BulpCoin is able to compete with others.