Stratis announces first ‘Master Nodes’
Stratis Group Ltd. has just revealed initial details of the upcoming Breeze Nodes infrastructure release. The blockchain company, that has created one of the most innovative cryptographic tokens – Stratis ($STRAT). Will soon be offering an economic incentive to node operators to participate in securing different types of on-chain and off-chain transactions for the Breeze Wallet. As well as for blockchain apps and services for corporate clients.
The first iteration of the Breeze Tumbler Node (often referred to as a “Master Node”) will see their application supporting the Breeze Wallet, where they will help execute Bitcoin and Stratis TumbleBit transactions. These will have hybrid functionality running both Bitcoin and Stratis full nodes that provide additional services to the network.
There will be future releases of other forms of Stratis Nodes providing functionality, such as:
- Payment Node – Payment Channels
- Side-Chain Node – Hybrid Side chain special features
- Identity Node – Identity management node
A Breeze Tumbler Node can be operated by anyone that meets the minimum protocol requirements. Some of those requirements include:
- An operator will be required to sign a transaction with an account that has 250,000 STRAT or more.
- For BTC tumbling transactions, an operator will also need to have 5 BTC or more held in reserve to be able to process payments. The more bitcoin held in reserve, the more payments theoretically can be processed.
- Server hosts will need to provide a minimum amount of storage capacity (details TBA). It is recommended that your Breeze Node be available 24×7 in order to opt for the most transactions and potential fees.
Breeze Tumbler Nodes will operate in a totally decentralized and trustless manner, meaning that no one can steal the funds trusted to the network. Additionally, the STRAT required to operate a node can be stored on a Ledger Wallet or on offline backup. The private key to the users STRAT address is only required during registration with the Stratis Node network.
The BTC in reserves will need to be in a wallet on the node, as it is required to sign the transactions when processing the tumbler transactions.
Full instructions and documentation will be released in due course and made available via the Stratis Wiki. The intention is to make it near one-click, so operators do not have to deal with configuration files. Our developers will be ready to assist you with any issues you may encounter.
Rewards to the Breeze Node operators will be paid in the form of a transaction fee (estimated at 1%) paid by Breeze users directly to the Breeze Node that processes their TumbleBit transaction. This fee amount and its distribution may vary for specific implementations of the Breeze Node depending on the type of applications and services.
Depending on the operator’s jurisdiction there may be legal and tax related specific requirements and/or restrictions. We highly recommend all operators seek proper advice before operating a Breeze Node. This is a decentralized network not managed, controlled or administered by Stratis Group Ltd.
The Breeze Tumbler Nodes are expected to go live before the end of Q2 2017, by the time of the release to production of the Breeze Wallet.