Ambrosus Opens Masternode Ownership to Public and Releases New Updates

Ambrosus is working on decentralizing supply chain management by creating a system of sensors that can track logistical metrics, combined with RFID chips and QR codes to transfer the data. They are then able to store the data on a blockchain by using Amber (AMB), their native token.

Ambrosus recently announced they’ll be onboarding multiple types of masternode owners into their project. In the official blog post, the team released a guide to owning and operating masternodes, as well as updates on their crypto-economics.

Masternode Application and Test-Net Trials

The first step is underway, encouraging interested users to fill out a Masternode Application Form, which was released exclusively to subscribers of the Ambrosus newsletter on September 3, 2018. 2 days later, it was released to the rest of the community through their various social media channels.

For those desirous of running their own masternode, Vlad Trifa, Chief Product Officer of Ambrosus, urges you to fill out the form as soon as possible, since the process happens on a first come, first serve basis. After being shortlisted, applicants will be sent an invitation to a more thorough, node-specific application. Once the second application is approved, Ambrosus will send out instructions for setting up and running a masternode on the Ambrosus network (AMB-NET).

New applicants will be allowed to grow familiar with AMB-NET by practicing on the test-net, preventing the risk of “drawing penalties on the network.” Ambrosus will also be using this step as a final determinant of whether the masternode operator is fit for the task, insisting that only the best operators will build the foundational layer of masternodes on AMB-NET 1.0.

So far, the Ambrosus development team has gotten positive feedback from clients using the test-net for the last 3 months. In the concluding remarks of the post, Trifa outlined the criteria for any user serious about owning and operating a masternode on AMB-NET:

Be transparent in your application.

Help us engage our community.

Run a testnet node.

Help generate bundles.

Be ready to bid for Apollo nodes.

Hermes Nodes

The incentive behind running a Hermes node looks a bit different than your standard masternode reward system. Instead of earning a reward directly from the network, Hermes node owners are able to build and run their own dapps and blockchain solutions on top of AMB-NET within the industry of their choice.

Their services may then be sold to clients at a price the Hermes node owner deems fit. The only continual overhead required from the Ambrosus Network is a $12 fee that’s applied to each solution, called “bundles.”

Community and Professional Editions

Since each bundle is worth $12 to AMB-NET, the team has decided to meet potential Hermes node owners in the middle as often as possible. To accomplish this task, they’ll be offering 2 editions that run Hermes nodes: Community and Professional.

The Community Edition costs node builders nothing to get started aside from the time it takes to download the latest version from the Ambrosus GitHub. The Community Edition provides only the basic functionality of Hermes node, and is completely open source.

The Professional Edition offers additional tools that allow node operators to a scale their production quickly. Trifa expects large companies to be creating thousands of bundles per day, so the Professional node owners will benefit from “things like database & API auto-scaling, service monitoring tools, admin dashboard, fine-grained optimisations of how/when bundles are created, etc.” according to the team.

The application process for this edition requires the user to stake 150,000 AMB, which is $18,150 at the time of writing.

Apollo Nodes

Ambrosus describes their Apollo nodes as “the authority of the network,” although there’s been very little information released about them.

For several months in the beginning, or until AMB-NET reaches a reliable state, the onboarding of Apollo nodes will be carried out in a highly controlled manner. Most of these nodes will be run by the Ambrosus team and their partners, and once tests prove performance is sufficient, they’ll begin offering Apollo node owner spots every few weeks.

Ambrosus is seeking an equally distributed ownership of Apollo nodes from 2020 and beyond. Their tests show the optimal amount of nodes is limited to around 125, which they’re aiming to divide in the following manner:

Businesses and Organizations (33%) Community members (33%) Ambrosus and Partners (34%)

Starting November 1, 2018, Ambrosus will give Apollo node owner positions to the highest bidder. Before November, a very small amount of new owners will be selected based on how long they’ve supported the community, and whether or not they’re interested in running Hermes nodes as well. Also, businesses that are able to generate large amounts of bundles will be given priority.

Cooldown Period for Atlas Nodes

Recent community feedback was mostly focused on improving the storage capabilities of Atlas nodes. Ambrosus’ response was to introduce a “cooldown” period for nodes, which prevents node owners from getting a new bundle immediately after their last.

The cooldown period will be modified based on the quality and size of an individual node’s ownership. For example, if an Atlas node owner has been experiencing downtime and low bandwidth, the cooldown period would be increased. If a node owner has a lengthy, proven track record of excellent service, their cooldown time can be decreased. Also, the bigger the Atlas node, the shorter the cooldown period.

Block Rewards and Heartbeat Bundles

As a final modification to their economic model, AMB-NET is introducing a block reward system designed to further incentivize users to operate masternodes within their network, and contribute to the decentralization of their project.

This reward system will produce 2% new AMB tokens each year, then distribute them to active Apollo and Atlas node owners. Rewards for Apollo nodes will be received directly by creating new blocks, and Atlas nodes will receive rewards from Hermes nodes in the form of Heartbeat Bundles. These bundles capture and send transactions from IoT networks, then produce rewards for Atlas nodes relative to their storage availability.

Since this reward system is brand new, the details are still working themselves out. The team plans to keep the rewards proportional to risk node holders take on, while factoring in the benefits they provide. Overall, their goal is to allow AMB to be used in a way that contributes to the growth and development of AB-NET.

Trifa encourages those interested in joining the discussion to send their thoughts about Ambrosus to their Reddit and Telegram channels, or their email address. To learn more about their project, visit their website, read their whitepaper, and follow their official blog.