What Are Myria Nodes?
A Myria node runs on the Myria blockchain, a scalable solution tailored for gaming. Its key advantage is that it eradicates gas fees, making it ideal for gaming transactions. As a node owner, you’re a critical part of this system, and in return for your contribution, you’re rewarded directly with Myria. Moreover, all node holders are eligible to receive NFTs and voting rights.
By operating Myria nodes, I’ve been earning daily Myria rewards. I started running these nodes for a fund I’m advising, and the returns have convinced me to keep investing in this node system.
Myria Nodes Financial Estimates:
Let’s delve into the figures. On one day I monitored, my nodes were earning approximately 1,435 Myria, which converts to about $13 in the US. Note that as more nodes enter the system, the rewards slightly drop as all the nodes share the same pot.
However, it’s essential to remember that these nodes generate Myria, not direct US dollars. If you wish to convert the Myria you earn into US dollars or USDT, you’ll need to sell them on exchanges. Based on my calculations, you can expect approximately $322 per month from running a Myria node.
Setting Up a Myria Node (Windows & Mac):
The simplicity of setting up Myria nodes makes it attractive for crypto enthusiasts. Following the instructions given on the Myria website, you’ll first need to deposit your funds (Myria tokens), then choose your options for running the node.
The two main methods include using an existing old PC or employing a virtual private server (VPS). However, it’s crucial to keep in mind that your node must run 24/7, so ensure the stability of the hosting platform you choose.
Once your node is up and running, monitor your progress directly from the Myria node dashboard, giving you a real-time view of your earnings.
Setting up a Myria Node (Remote VPS)
- Sign up for a VPS service such as ‘DigitalOcean’.
- Upon signing up, select the option to create a new droplet (or Virtual Private Server).
- Choose the region that’s closest to you (e.g., Singapore Data Center) for the optimal performance and latency.
- Select the minimal required specifications for Ubuntu operating system.
- Specify login credentials (ensure your password is secure).
- Upon creation, copy the given IP address of your Virtual Private Server.
- Open Terminal (Mac) or PuTTY (Windows) local machine and type in the command: ‘ssh root@[copied IP Address]’. Provide the password you set earlier to log in.
- Once logged in, follow the instructions provided by Myria to install the necessary packages, run commands for script setup, and start your Myria node.
- Visit the Myriad Node Management dashboard, click on the ‘Manage’ button to obtain your node’s API key.
- Enter your node’s API key into the terminal.
- Confirm its successful setup on the Myriad Node Management dashboard; you should see your node running and the green dot, indicating it’s active.
Please remember that handling such processes requires a certain degree of technical proficiency. Always exercise caution and ensure your systems are secure.
Points to Remember:
Setting up a Myria node can be a rewarding yet complicated process. The steps outlined above will help you navigate the process wisely. Remember that the price of Myria can fluctuate over time, impacting your return on investment. Always employ sound financial management strategies when investing in nodes.
If you’re interested in exploring the world of gaming-based blockchain systems or enthusiastic about running nodes, Myria presents an opportunity worth considering. With some technical know-how and patience, you can set up your Myria node and start your journey to earning passive income.
Remember, it’s always best to start small and gradually increase your investments as you understand more about the system. Happy trading!
Please note that this blog post is for educational purposes only and should not be taken as financial advice. Always do your own research before making financial decisions.