Masternodes are special nodes within a network which performs vital roles in a Blockchain project, in exchange for contributing to the strength of the network rewards are then generated and distributed to each Masternode holder.
Dash was the first coin to start the concept of masternodes.
In any given PoS framework, there are 2 major types of nodes: A regular and a Masternode.
Regular node is basically using the official coin wallet to Mine new coins, which increases the supply by generating more coin as reward “Income” for the user.
Masternodes are essentially super wallets, created to handle special transactions on the blockchain, increase the privacy of transactions within the network they also participate in voting and governance. A masternode can perform several different functions for its parent blockchain and have relatively low barriers to entry if one wants to own their own masternode.
To own a masternode, you have to put down a certain amount of the coin it is tied to as collateral, that collateral is then “locked” for a duration of time. Since you have a committed collateral and agreed not to sell off that collateral for a period of time, your masternode will generate more coin “reward” than a regular node.
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