Ulord Launches the Second Batch of Ulord Masternode Election

In the Ulord network, the masternode system forms a backbone network to guarantee communication and real-time verification of transactions, and constructs a massive distributed resource pool to satisfy the content distribution mechanism, ensure high-quality network storage, and provide better data flowing service.

Ulord consensus masternode, based on the Ulord sidechain UOS, is responsible for transaction verification, transaction bookkeeping, block packing and confirmation of the sidechain network. It has the right to vote for the modification of chain parameters and system contracts.

Ulord encourages the Ulord masternodes to build their own communities, so that each community can develop to enrich the Ulord ecosystem. Meanwhile, the Ulord masternodes are supervised by the Ulord community.

On Aug 30, 2018, more than 490 Ulord masternodes were born and now Ulord Foundation has launched the second masternodes election with a total of 39 masternodes.

Welcome to join us.

These are the details of the second election.

I. Plan

Considering the early stage of the project, too many masternodes will cause resource waste. Ulord launch the masternode election in batches.

Ulord Foundation plans to launch the second masternode election, and the number of the masternodes are 39.

a. Honorary masternode:

Number: 29

UT requirement: 10000 UT

Hardware requirement:

a server:4C16G, 100G SSD, 2TB storage, 5M bandwidth; Public network IP

b. Consensus masternode:

Number: 10

UT requirement: 100000 UT

Hardware requirement: 1 server: 4 cores > 32G memory, data disk > 200G, SSD system hard disk 100G, 2M bandwidth; (no public network IP required)

1 server: 4 cores > 32G memory, data disk > 200G, SSD system hard disk 100G, network 5Mbps; public network IP

II. Responsibilities and Interests of Masternodes

The rights of masternodes are mainly reflected in the revenue incentives of the system. The responsibilities of masternodes are mainly reflected in the obligations and effects on the system.

Incentive:

Every month, 260,000 UT, 50% of the developer community budget as 520,000 UT are given to the consensus masternodes as motivation. Among them, 20% of the 260,000 UT are allocated according to the proportion of votes obtained by the consensus masternode (UOS holders vote), and 80% of the 260,000 UT are allocated according to the proportion of the blocks generated by BP nodes.

Responsibilities:

(1) Provide server nodes to ensure the normal operation of the nodes;

(2) Node server collects transactions in the network;

(3) The node verifies the transaction and packages the transaction into the block;

(4) The node broadcasts the block, and the other nodes add the block to its own database after verification;

(5) Promote the development of Ulord;

(6) Ensure the stable operation of the UOS chain and respond to emergencies efficiently;

(7) Provide consensus services to other blockchain systems.

2. Honorary masternode

Incentive:

Starting from the block height of 57600 to 210239, the masternode revenue in each block is 52 UT, and the block time is consistent with the PoW common block.

Monthly incentive: 52UT / block * 576 / day * 30 days ÷ number of nodes

Starting from the block height of 210240 to 420479, the masternode revenue in each block is 76 UT, and the block time is consistent with the PoW common block.

Monthly incentive: 76UT / block * 576 / day * 30 days ÷ number of nodes

Responsibility:

(1) Obligations to the Ulord system

Review the resources and sites within the Ulord system to maintain the healthy and orderly development of the Ulord ecology; evaluate the developers’ proposals and promote the community contribution to Ulord. Since Ulord is a decentralized system, the fulfillment of both obligations is done by voting.

(2) Obligations to the Ulord project

Promote the Ulord project, such as meetup, community building and online event organization to expand influence.

III. The process of Ulord masternode election

Step 1. Node candidates post their election declaration

1. Post Time: Jan 18 — Jan 26

2. Post content:

(1) Personal profile;

(2) Post the analysis of the Ulord project and the understanding of the Ulord masternode;

(3) The project support plan as masternode;

(4) The Ulord registration link or QR code should be posted in the declaration.

3. Post channel:

Publish on Ushare or other influential online platforms.

Step 2. Masternode election application

1. Application time: Jan 19 — Jan 26

2. Sign-up channels:

Login the Ulord Developer Community website (https://ulorder.one/) to apply.

First register the website, then open the node management to enter the masternode application page.

Fill in the application materials according to the prompts, click Submit, and complete the registration of masternode.

Step 3: Pass the masternode nomination

1. Nomination time: Within 24 hours after the masternode application is submitted, from Jan 19 to Jan 27.

2. How to get: View it on the masternode management of the Ulord developer community website.

Step 4: The hardware and software preparation and construction if you are selected.

1. Time: Jan 19 — Jan 27.

2. The candidates with the masternode qualification prepare the hardware and software resources such as UT and related servers.

3. The candidates build the masternode system under the guidance of the Ulord staff.

4. The construction and operation of the consensus masternode need professional staff to operate (we will release the construction tutorials later).

IV. Masternode elimination rule

1. The masternode qualification period is 1 year;

2. If the masternode violates any of the following rules, the qualification will be cancelled:

(1)Honorary masternode must have more than 10000 UT and consensus masternode must have more than 100000 UT;

(2) The owner does not fulfill his commitment to the support program;

(3) Masternode has misbehavior.

3. The consensus masternode elimination is decided by voting and penalty mechanisms of nodes.

If you are willing to promote the application of blockchain technology and the Ulord project, welcome to join the Ulord ecosystem.

The final interpretation is owned by Ulord Foundation.

Ulord is a peer to peer value transfer public blockchain.