In this lecture, we will talk about nodes, testnets and ambassador programs.
Cryptocurrency nodes are a node in the network that processes or produces transactions. It can be any server or computer connected to the blockchain network. Blockchain network node that you can run on your own machine or rented server.
The essence of nodes is decentralization. If, say, in some country, access to the Internet is completely blocked, for example, in China, then nodes in other countries will contain the entire history of the blockchain.
Nodes are divided into regular and master nodes. Not all blockchains have master nodes. For example, there are no such things in Bitcoin, but there are in the Dash blockchain. In turn, ordinary nodes (in the case of Bitcoin) are divided into full and lightweight ones.
At the moment, there are two consensus, these are Proof Of Work and Proof Of Stake. We talked about Proof Of Work and Proof Of Stake in previous lectures.
For testing networks developed on the Proof Of Stake protocol, are needed people, who can raise a node on their servers, get a demo coin and become a test network validator. This allows developers to test the operation of the network or its individual features.
A testnet or test network is a kind of “sandbox”, almost identical to the main network, which allows developers to test the necessary functionality without using real cryptocurrency and without any risks for the mainnet.
The best testnet participants, validators who maintain a good server uptime and update the system on time, receive a reward in the form of coins.
Benefits of participating in testnets:
We receive rewards for participation in the testnet in the form of coins or money. You do not have to become a validator, you can participate in the testnet, get tokens and merge them on the exchange.
You can receive a delegation from the project and become a validator, or delegate coins to a large validator and receive interest.
We can keep the node in the main network and be a validator.
Almost always guaranteed allocation to Coinlist.
Constant training and pumping.
Types of testnets
Technical testnet. This is real network testing with load testing, scripting and so on. As a rule, they are closed and no more than 200 people participate.
Ambassador programs. This is pure marketing, the purpose of which is to promote the social activity of the project and its popularization. These are translations of articles, posting on social networks, creating video, photo and audio content about the project. You get test tokens which are then converted into mainnet tokens.
Mix of technical testnet and ambassador programs. You need to install a node, run scripts, post videos or content on social networks. This is the most common type of testnet.
The coins received from the project are usually not enough to stake and validate the network, or with this amount of coins, your node may not produce a single block in a year. In fact, you will not receive anything for a year on the main network, because in order to make a profit on the main network, you must have enough coins. While it’s easy to get them on the test network, you already need to buy them on the main network. And it often costs money.
It is more profitable, sometimes not to participate in the main network, but to delegate your money to a large validator and receive profits in proportion to the money invested. This is sometimes much more profitable than setting up a node yourself.
To raise a node, you only need servers and their smooth operation. The cost of a validator comes down most often to renting a server or paying for electricity if you have your own server or PC that can be converted into a server for a node.
In addition to the technical side, you will need to register in the project chats and be an active user. You also need minimal knowledge of Ubuntu. It’s not difficult, manuals for raising the nodes of various projects will be in the «Nodes and Testnet» section of the site. Most often, it all comes down to copying a single line of command into the terminal.
The cost of the server depends on the node you want to raise. Each node has its own minimum requirements for server resources. It is most likely impractical to buy a physical server or PC for test nodes. But if you have it, then you can put it to work.
The easiest way is to rent virtual servers, it is not expensive, but you will be sure that these servers will not disappear anywhere. Internet and electricity will not disappear there
The cost of a server for raising a node ranges from $10 to $40 per month on average. It all depends on the requirements of the project.
How much and how can I earn by raising a node?
Earnings from raising a node depends on the project and the time of your participation in the test network. A lot also depends on the perspective of the project you choose.
The most optimal strategy would be to participate in as many projects as possible at the testnet level. However, in the best projects where you have received the most rewards, you can go to the production network or mainnet and become a validator of the production blockchain network, as mentioned earlier.
Ambassador programs.
Ambassador programs are one of the most unusual earnings in the cryptocurrency market. In order to earn, you do not need to invest a single cent.
The Ambassador Program is a collaboration between a cryptocurrency company and ordinary users at the very start of the project. In other words, a cryptocurrency project that is just starting to enter the crypto market offers volunteering. Users can voluntarily participate in the development and PR of the project, for which they can later be credited with tokens of this company (which have not yet been released for general sale on exchanges).
Often such programs do not guarantee any earnings or even a drop of tokens. That is, you simply voluntarily agree to work for the company and perform diverse marketing tasks.
What do ambassadors do?
1) Translations of websites and articles into different languages.
2) Creation of graphic content (memes about the project).
3) Video reviews about the project.
4) Creation of a community in Telegram.
5) Community moderation.
6) Coordination of other ambassadors.
Usually you can find all the tasks in the Discord of the project or in special tables where the ambassadors and all the tasks of the project are managed.
Volunteers have no guarantees of earnings, in most cases, after a certain period of time and, most importantly, based on the results of hard work, the project decides to reward volunteers with its own tokens.
And given that they are given to ambassadors for free BEFORE the project is fully listed on various exchanges, these tokens can be sold for very good money and get dozens of “X” profits. And this happens quite often.
It is important to remember that if a company does not announce any awards for work, there really may not be any. This is just a game of roulette, and generosity depends only on management.
You can find ambassador programs in thematic chats, groups, google.
There are also special tools that you can use to search for program ambassadors. For example, the Dropsearn service allows, among other things, to receive information about new ambassadors.
You can also become a project ambassador by being active in chats or Discord channels, creating memes or answering questions.
After finding a project with an open program, you will need to fill out a Google form or simply send your email. If you are approved according to the answers in the Google form, you will receive an invitation to a special server in Discord by mail.
This direction is not yet developed so much, but it gives a good profit, and this should definitely be used. The only thing you need to keep in mind is that this is really more like a real job, and you need to allocate a certain amount of time for it. Sometimes even a lot of time.