#404 MetaNode - SmartNodes Made Simple

By josephjconnor

Summary

MetaNode is a platform that provides secure, reliable and fractional masternode hosting. By allowing users to put their tokens to work right away, MetaNode will become the on-ramp for crypto users to quickly and easily create masternodes. If our proposal is accepted, we plan to offer SmartNodes as the initial product for our pre-alpha and alpha launch. By building our product around Smart from the very beginning, we will position Smart to quickly grow its user base as our company’s user base increases. A win-win outcome for all.

In addition to increasing the number of Smart users, we believe our platform will provide value to the Smart community in the following ways:
• Easy and Hassle Free SmartNode Deployment
• Increased Institutional Interest in Smart
• Increased Long Term Value of Smart
• Helpful Analytical Information for Current SmartNode Owners
• Increased Security for the Smart Network
• Outsourced SmartNode Support
All of these benefits are explained in greater detail below. Most importantly, Smart users will have the ability to shape a growing and innovative cryptocurrency platform from the ground up. Our team will work hand in hand with Smart users to gather feedback and implement changes quickly.

A full PDF of the proposal (including graphics) is located on our website: https://metanode.io/Smartcash_Proposal.pdf

Description

 

Introducing MetaNode

We plan to use the initial funding ($36,685.38) to build our product and roll it out in two stages: (1) a soft launch of our pre-alpha product and (2) an alpha launch. We will offer both the soft launch and alpha launch exclusively to the Smart community. The pre-alpha product will allow a user to launch and host SmartNodes on our platform. Subject to legal and regulatory review, the alpha product will add additional features including the ability to pool Smart tokens with other users to launch and host a SmartNode, the option to automatically transfer payouts into additional SmartNodes and access to our portfolio of tools to analyze the performance of their masternodes.

The funding from the Smartcash community will be used to invest in four key areas: (1) security (2) reliability (3) regulatory and (4) customer experience. Our investment in security means that we will adhere to the best practices of web application security (“OWASP”), user authentication, data encryption, backup, and disaster recovery. Our investment in reliability means that there will be no downtime for your masternodes because our state of the art distributed cluster architecture will allow for virtually zero service disruption. Our investment in regulatory means that we will differentiate ourselves from competitors by maintaining compliance with all pertinent regulations and laws. MetaNode intends to comply with applicable state money transmission laws, federal Money Services Business registration, KYC and AML statutes, and any relevant foreign licensure requirements. Our investment in customer experience means that we will design the site to be intuitive so that it becomes the number one consumer facing masternode hosting site.

Ultimately, we believe that our team’s focus and deep expertise in security, engineering, legal and product issues will help us drive user growth both in the Smart community and the masternode community as whole. Right now MetaNode has the team, timeline and vision in place in order to build this platform. Funding is the missing piece of the puzzle to build this exciting platform and it is the reason why we are before the Smart community now.

Benefits for Smartcash Community

We believe that an early partnership between MetaNode and Smart would provide a number of benefits for the Smart community, including:

Easy SmartNode Deployment: Running a masternode involves technical knowledge that the average token holder, let alone crypto newbie, does not possess. By completely automating the process, MetaNode will make masternode deployment as easy a single click. Think Amazon’s “1-Click Ordering”, but for masternodes instead of USB cables.

Increase Smart User Base: MetaNode will become the on-ramp for crypto users looking to quickly and easily create masternodes. By building our company around Smart from the very beginning, we will position Smart to quickly grow its user base as our company’s user base increases. Economists call this a WIN-WIN (technically they call it an integrative negotiated agreement, but let’s not get bogged down in the details).

Increase Long Term Value of Smart: We intend for MetaNode to become the gold standard for masternode creation and management service providers. As we attract more users to our platform, we believe this increased interest will most likely result in a long term increase in the value of Smart.

Increase Information for Current SmartNode Owners: MetaNode will allow users access to a portfolio of analytical tools that will allow them to better analyze their masternodes, as well as make informed financial decisions. Less HODL and more STAEK.

Help Secure the Smart Network: SmartNodes play a vital role in protecting the integrity and efficiency of the network. By automating the setup process, MetaNode will help to further increase decentralization. This in turn will help secure the Smart network from malicious attacks and stagnation. Similar to how the Black Panther’s Dora Milaje protect Wakanda from avaricious outsiders looking for its vibranium…and now back to the proposal.

Outsource SmartNode Support: MetaNode understands that Smart developers spend a significant amount of their time on Discord helping new users launch and maintain SmartNodes. By providing 24/7 support to SmartNode owners, we will relieve the burden on Smart developers and let them do what they do best: SHIP EPIC CODE!

Timeline, Deliverables and Funding

Timeline: 9 weeks

Deliverable One: Soft Launch of MetaNode Platform

  1. Timeline: 4 weeks
  2. Goal: Pre-alpha product rolled out to a small group of Smart community users.
  3. Features: Users will be able to:
    1. Launch and host individual SmartNodes.

Deliverable Two: Alpha Launch of MetaNode Platform

  1. Timeline: 5 weeks
  2. Goal: Alpha product rolled out exclusively to the entire Smart community.
  3. Features: Users will be able to:
    1. Launch and host individual SmartNodes.
    2. Pool Smart with other users to launch and host a SmartNode.
    3. Automatically transfer payouts into additional SmartNodes.
    4. Utilize our portfolio of tools to analyze the performance of their masternodes.

Funding

  • Engineering Costs: $22,275
  • Legal Costs: $13,500
  • Operational Costs: $910.38
  • Total Cost: $36,685.38

Amount ($)

Amount (Smart)

Description

$22,275

TBD

Full stack developer working 45 hours a week at $55/hour for 9 weeks.

$13,500

TBD

Attorneys at Ourboros LLP researching and providing legal advice at $650/hour for 20 hours.

$584

TBD

Testing 40 virtual machines for 730 hours at $.02/hour.

$219.4

TBD

LastPass subscription

$52.98

TBD

Metanode.io domain purchase

$38.11

TBD

G Suite

$15.89

TBD

Adobe Acrobat Pro DC Subscription

 

Frequently Asked Questions

What is the MetaNode platform?

MetaNode is a secure and reliable masternode hosting site that allow users to launch individual masternodes or pool tokens with other users to access masternode dividends.

What coins will MetaNode host?

MetaNode is committed to working with the Smart community to increase Smart’s user base, adoption and long term value. In order to reach that goal, we think it is vital to create a dynamic platform that offers different options to match our user’s interests and demands. A decision to host other coins will only happen after a number of steps have been taken.

How will pooling work?

Pooling will work automatically. Instead of having to scroll through dozens of masternodes, users will deposit their tokens into a contribution pool. Once the staking requirement has been met, the user is notified that he/she is a fractional owner of a masternode. Their masternode network fee share will be proportional to their contribution.  

Is there a minimum amount needed for pooling?

No. Unlike other services, pooling will not be limited to a minimum amount. If you have only 1 Smart token our system will still accept it.

Can I host an individual masternode?

Yes. Our platform allows you to host an individual SmartNode too.

Is it a difference process for running an individual masternode vs. a pooled masternode?

No. Our intuitive interface makes it so that you can deposit any SMART amount and our system will automatically generate as many SmartNodes as possible. Any remainder Smart tokens will be directed to a contribution wallet that will launch a SmartNode as soon as the wallet contains enough Smartcash.

How much does the service cost?

MetaNode will keep a small transaction fee from the distribution of Smartnode rewards in order to maintain our service. We are still working on finalizing the fee amount, but it will be competitive with other services.

Where are the masternodes hosted?

Masternodes will be hosted in data centers located in multiple regions across the globe by a leading cloud service provider. Hosting masternodes in multiple regions ensures redundancy if a single region goes offline. This strategy has the added benefit of preventing centralization of masternodes in a single region.

How will MetaNode track masternodes?

Our state of the art telemetry and diagnostic solution will be monitoring each deployed masternode as well as the whole platform. This solution will track performance, availability, security events and usage. In the event of an anomaly or a potential system failure, the MetaNode self-healing system will trigger an alert and deploy the fix. Our team of highly skilled Site Reliability Engineers will be involved in any issues that directly affect the users or masternode rewards. As advocates for transparency, the MetaNode team will be sharing masternode telemetry data with our users.

How will MetaNode mitigate service disruptions?

MetaNode’s state of the art distributed cluster architecture will allow for virtually zero service disruption. Due to the containerization of our masternodes, we can rapidly redeploy nodes as needed. If an extended downtime is detected or expected, we will have the ability to quickly re-establish masternodes on other servers/regions, assuming the outage is centralized to clusters or regions and not 100% of the cloud provider’s services. Users will be able to track the health status of their masternode through an intuitive telemetry dashboard. Additionally, users will be able to set up notifications to alert them of rewards or other events.

Team

Joseph Connor: CEO

LinkedIn: https://www.linkedin.com/in/joseph-connor-b6a96a16/

Nick Streit: COO

LinkedIn: https://www.linkedin.com/in/nick-streit-72123797/

David Selinger: CIO/Lead Dev

LinkedIn: https://www.linkedin.com/in/david-selinger-06789336/

Dmitrii Fotesco: CTO

LinkedIn: https://www.linkedin.com/in/dmitrii-fotesco-aa43b94b/

Experience

Our team has diverse experience as crypto miners, traders, investors and masternode owners. Nick is a co-founder of a limited partnership for cryptocurrency mining and trading, a long time masternode investor and an active member of the Smart community. Joe is a practicing attorney in the United States at an AML Top 100 Law Firm who brings his legal and business experience to the project. Joe primarily provides counsel to enterprise software companies and has been involved in crypto since 2014. Both Nick and Joe are loyal SmartNode owners. Our engineering team consists of two engineers. Dmitrii is a Blockchain Engineer at Microsoft Finance. David is a former Senior Surveillance Technician for the U.S. Air Force and a Senior Full Stack Engineer with diverse experience in multiple industries and a deep passion for blockchain technologies.

Smartcash Payment Address

SibmttbuNfiJu4DdSaTZUj4C5KgBoXk6PA

Pre-Proposal Link

https://forum.smartcash.cc/t/metanode-smartnode-investing-made-simple/3969/12

A full PDF of the proposal (including graphics) is located on our website: https://metanode.io/Smartcash_Proposal.pdf 

 

 

 

 

Categories

Technology

Milestones

Date Amount (US$) Amount (Σ) Description Status
June 19, 2018 12,228.34 261,307.85 * Soft Launch of MetaNode Platform - Pre-alpha product rolled out to a small group of Smart community users. -
July 24, 2018 24,457.04 522,623.39 * Alpha Launch of MetaNode Platform - Alpha product rolled out exclusively to the entire Smart community -
* Estimated

Requested Amount

  • Total USD: 36,685.38
  • Estimated SMART: 783,931.23
  • Estimated BTC: 5.67566212

Schedule

  • Created Date: Wednesday, May 9, 2018
  • Voting Deadline: Wednesday, May 23, 2018 02:34:00 UTC
  • Payment Date: Payments will be made in accordance with the delivered milestones

Status

  • Not Funded

Votes

27.95%
Yes (231324.540380859)
72.05%
No (596339.816138124)
0.00%
Abstain (0)

Voting Audit

Address Voting Power Vote Is Valid

Comments

  • mastin 05/14/2018 11:09

    Make it 10 times cheaper and the community probably would vote yes. No one likes to pay for your bureaucracy. And 3.5K for such a project is possible in some countries. Apart from that the priority of the project itself is rather low. The current number of nodes proves it.

  • cryptodog 05/22/2018 15:06

    I agree there needs to be an easy way for novice users to get involved with a method to host a masternode with ease and this interesting concept but the pricing doesn't reflect the idea. It also seems there is no working product. The website claims to be coming in 2018 - that's a wide date range. Not enough substance for me to get excited by this.