How to setup ChainCoin masternode on a DigitalOcean VPS

in #chaincoin7 years ago

Hello guys, today I am sharing a very important lesson with you, as we know, ChainCoin is all the hype, and so are masternodes!

First of all, this guide is a reference! I take no responsibility for any lost coins or anything, be extra cautious when sending big amounts of coins, they can't be retrieved back once sent to wrong addresses!

Donations can be made to ChainCoin address:
CJHRbAZ2WRiBgMrrRT1qsKAThsEncYA9p8

There's also a YouTube video to go with this guide so feel free to watch it too at

So let's figure out how to setup a masternode inside DigitalOcean VPS!

To help me with my server costs, please use the following referral link to get free 10$ on your DigitalOcean registeration: https://goo.gl/LqLtj5

When you've registered and signed in to DigitalOcean, first step is to create a Ubuntu 16.04.02 x64 droplet

To employ a small cost saving tricks, choose the cheapest, 5$ droplet at first. Due to memory constraints ChainCoin wont build with this machine, but we'll solve that problem in a bit!

When the droplet creation is completed, power off the machine!

Resize the machine to the 80$ machine, or the 20$ machine at least, because else the building will fail!

Power the machine back on!

Download putty from http://putty.org

and run it!

Open a mail containing your crendetials to the droplet

and use the ip inside the email as host address

Login with the credentials and change the password as guided. Inside putty the pasting is done by right clicking on the window

Now lets begin getting the dependencies for the installation!

First add bitcoin repository

add-apt-repository ppa:bitcoin/bitcoin

Then run an update

apt-get update

Install the dependencies

apt-get install git build-essential libtool autotools-dev automake pkg-config libssl-dev libevent-dev bsdmainutils libboost-system-dev libboost-filesystem-dev libboost-chrono-dev libboost-program-options-dev libboost-test-dev libboost-thread-dev libdb4.8-dev libdb4.8++-dev -y

Clone the repository

git clone https://github.com/chaincoin/chaincoin.git

Open the directory where chaincoin was cloned into

cd chaincoin

run autogen.sh

./autogen.sh

run configure step

./configure

build.. this will take a while!

make

and finally install

make install

Now for the cost saving trick!

Power off your droplet

Resize it to the smallest machine!

Power it back on and sign back in using putty!

run chaincoin daemon to generate credentials for you

chaincoind --daemon

Copy the rpcuser and rpcpassword generated for you

edit the configuration file

nano /root/.chaincoin/chaincoin.conf

paste in the credentials created for you by right clicking

CTRL + W

save file

CTRL + X

close editor

Start the chaincoind daemon

chaincoind --daemon

See blockcain synchronization progress

chaincoin-cli getinfo

Compare the 'blocks' count to one listed in ChainCoin explorer

When the numbers are same, its completed!

Get the accountaddress to send the coins to

chaincoind getaccountaddress 0

Save the private key in case of disaster, dump it using the following command. Replace YOUR_ADDRESS_HERE with the result of previous command 'getaccountaddress'

This private key is secret and never to be shared with anyone! Keep it secure!

chaincoind dumpprivkey YOUR_ADDRESS_HERE

Generate the masternode private key using

chaincoind masternode genkey

edit the conf once again using

nano /root/.chaincoin/chaincoin.conf

Paste in the following, and replace YOUR_MASTERNODE_PRIV_KEY with the result of 'chaincoind masternode genkey' command

masternodeprivkey=YOUR_MASTERNODE_PRIV_KEY
masternode=1

Remember!

CTRL + W

save file

CTRL + X

close editor

Now restart the chaincoind so the new configuration is used!

chaincoind stop
chaincoind --daemon

Use the following command again to find out the address to send your chaincoins to

chaincoind getaccoundaddress 0

Verify the address thousand times before sending anything!

Send exactly 1000 chaincoins to the address, if you send anything else it will not work!

use

chaincoind listtransactions

to verify that the coins have arrived

After the coins have arrived and been confirmed for 15 times, you can run

chaincoind masternode start

and we are finally done!

after the masternode is running you will receive chaincoins like so

the masternode generated coins take 100 confirmations before they can be spend!

When you're finally a millionare and ready to retrieve your coins use

chaincoind masternode stop

to stop your masternode

and

chaincoind getbalance

to find out your current balance

and send it using

chaincoind sendtoaddress YOUR_PRIMARY_WALLET_ADDRESS_HERE BALANCE_YOU_WANT_TO_SEND_HERE

enjoy your coins!

Sort:  

Great tutorial! thanks for the effort.

Perfect timing!!
A chaincoin masternode was next on my plate as soon as I pickup some shares at decent price points.
I've already scouted some "how to" info on this and with your pics this is the best tutorial in my opinion so thank you.
Question: Do you know if a chaincoin masternode can be run on a raspberry pi 3?

Yes you can run on a Raspberry PI 3. Just download Rapsbian lite and follow the tutorial. It should be similar.

Tuxic is right. However you will face one problem running raspbian, instead of Ubuntu based distro, it wont have Berkley DB 4.8 available from repositories, and you have to build it yourself, so you need to do a little research.

If this content receives good feedback, I might also make a raspberry PI guide, as I have couple of these laying around. :)

In that case I'll put it on one of our other PCs, thank you for letting me know.

This guide is very good, thanks!

thanks bro , and this method have profit ? you tested it ?

Yes I have. I've got 2 CHC per MN every ~24hr, so its.. ~4$ per MN/day

My blocksize stays at 0 what might be the problem?

How many connections getinfo reports? How long has this been?

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I've got chaincoin and HODLing :) I want a Masternode

I have had some Ubuntu upgrade issues that I need help with. I am already running a chaincoin masternode. Do you know how I could employ someone to help me as I am not tech savvy enough to follow the advice in ask Ubuntu. the masternode was running beautifully before the update then I encountered libboost errors. I assume because of the size. Anyway, would appreciate your advice

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