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Configuration procedure for a new masternode

This scenario is intended for those who are configuring their masternode from a clean start (or are not transferring the existing configuration).

Before describing the individual steps, the following prerequisites apply:

  • You have a server with a static public IP address, on which you have installed the Dash daemon (dashd) software.
  • The server is running a Linux operating system. While other operating systems may work, this guide will assume you are following best practices and using the most popular and supported system available.
  • You have access to the server over SSH.
  • dashd has been installed in the home directory of the user which you use to log in to the server.

Sending 1000 Dash to the address controlled by your hardware wallet

Step 1

The procedure to send 1000 Dash to a hardware wallet is described here.

Filling in the masternode configuration fields

Step 2

Run Dash Masternode Tool and click the New button to enter edit mode. If you don't have any masternode entries in the current configuration, edit mode is activated automatically.

Step 3

Fill in the fields:

  • Name: name/label of your masternode (can be any alphanumeric string).
  • IP: the IP address of the dashd server.
  • port: the TCP port number on which dashd is listening for incoming connections. You should use the value of the rpcport parameter from the dash.conf file. The default port value is 9999.

Step 4

Click the Generate new button on the right side of the MN private key field to generate a new masternode private key.

Masternode private keys. Some users think that the masternode private key is somehow associated with the private key of the 1000 Dash collateral, but in fact, they have no relationship. The masternode private key is generated independently and is only used in the process of signing the start masternode message and voting on proposals, and as such it is not particularly dangerous if it falls into the wrong hands. For this reason, the application includes a feature to automatically generate masternode private keys by simply clicking a button, thus avoiding a requirement to use Dash Core for this purpose. From a technical point of view, a masternode private key is a normal private key in the Dash WIF uncompressed format.

Step 5

Enter information related to the collateral as described here.
New masternode configuration steps

Changing the configuration of your Dash daemon

As part of the procedure described above, you generated a new masternode private key, which must now be transferred to your Dash daemon configuration file on the remote server.

Step 6

Log in to the server running dashd using your preferred SSH terminal client (PuTTY on Windows, for example), and then:

  • Open the ~/.dashcore/dash.conf file with your preferred Linux text editor, for example: nano ~/.dashcore/dash.conf

  • Set the masternodeprivkey parameter to match the masternode private key you generated in Step 5 . This key is the mechanism by which a link is established between the wallet holding the collateral and sending the start command, and the target dashd instance which should operate as a masternode.
    Masternode privkey

  • Save the file and exit the editor.

  • Restart dashd:

 $ cd ~
 $ ./dash-cli stop
 $ ./dashd

Next steps

Before you continue with the last step of the whole configuration (sending the start masternode message), make sure that the number of confirmations for the collateral transaction is greater than or equal to 15 (this can be verified in the Lookup dialog). If less than 15 confirmations exist, you will not be able to start your masternode successfully. Once this final requirement has been met, you can finally perform the start masternode operation.