Dash introduced us to masternodes and Bulwark looks to take it a step further. This is the reason many people consider it to be the future of privacy focussed masternode based cryptocurrencies and here’s why it makes for a great investment.
What is Bulwark?
A fork of PIVX, Bulwark was initiated in December 2017 when the crypto market saw the biggest boom ever (at least so far). And one of the main reasons it attracted investors even at such initial stages was the idea of a masternode.
But masternodes aren’t the only defining feature. Bulwark in its whitepaper claims it wants to improve on the current foundation by using new technology to develop tools and space where Bulwark can be used in real life applications and if their actions are anything to go by, that’s exactly what it is. Here’s in brief about it
A Secure Home Node
A secure home node is a hardware every newbie looking to set up a masternode in quick-time needs. Available for just about $100 which is to be paid in BWK tokens, it can be easily purchased through the Bulwark store. With a good internet connection and a power outlet, setup takes just minutes.
Though before you plan for a masternode, make sure you have acquired the 5000 BWK tokens needed as collateral.
The Hardware Wallet
With ledger and Trezer ruling the roost when it comes to hardware wallets, Bulwark looks to make in-roads by overcoming the one biggest cons about both the wallets i.e. they are both closed source.
The open source nature of the Bulwark wallet means the community members have the right to release bug fixes etc. which displays great transparency and community involvement on Bulwark’s part.
The Onion Router or TOR is what helps secure your identity. Since the traffic is routed via the TOR or the I2P network you get 100% control over your privacy without compromising on the benefits of a home node.
How to be part of the Bulwark Network
With the masternode you have the chance to earn Bulwark tokens while you sip coffee or are busy partying with your friends. Off course, you’ll need the initial 5000 tokens but those can be earned back in just 8-9 months of the masternode as the ROI currently is %160.
Setting up the masternode as you know is easy and more profitable at this point as the market is bearish. During bull, the same masternode costs $70000 (almost 17 times the cost today).
Proof of Stake
If not a masternode, simply staking coins through any private wallet should serve you well too. Proof of stake concept works similarly as you get rewarded for enabling transactions on the network, though the rewards are lesser. Plus, in case you don’t have enough funds to buy the 5000 BWK tokens, it’s the first step towards earning them.
Apart from that, other easy ways to help is by featuring articles or videos about Bulwark on your blog and YouTube channel. If you’re a developer, you can also look to get in on the team as and when the opportunity arises (so keep an eye out).
All in all, Bulwark still is in its initial stages and there’s a long way to go for it. But considering the progress and the transparency in their operation, it’s sure one to watch out for in the future.
Project site: https://bulwarkcrypto.com/