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Masternode collateral update
Updating a masternode collateral refers to the process of changing the amount of cryptocurrency used as collateral to operate a masternode.
Let's open our wallet (in this case Monk)
The collateral has increased from 4000 to 8000 Monk and apparently from the masternodes menu our masternode is missing.
We need to unlock the old collateral (the previously blocked 4000 coins transaction).To do this we go to
- Send
- Coin Control
Now a window will open, as we can see in the image the masternode transaction is labeled with a padlock icon.
We have to right-click on it and choose "Unlock unspent" from the list to unlock it.
Now we need to send a new 8000 Monk transaction to ourselves.
So
- Click on Receive
- Generate a new address
- Modify the label (we use the name of the old masternode again in our case MN1)
- Let's copy the address
Now let's go to the menu
- Click "send"
- Paste the address
- Insert precisely 8000 in the amount
- Click send
Now we click send to confirm the sending of the funds.
Now let's go back to the home screen and we can see that the payment to ourselves is confirmed after 6 confirmations (about 6 minutes).
Now let's go to the Debug Console and click on it.
The debug console will open where we have to enter the command below:
getmasternodeoutputs
Press enter to get the following information
- hash of the transaction
- outputidx
Let's go to masternode.conf and click on it.
This will open Notepad and we will need to replace the following:
- hash of the transaction
- outputidx
From the console we copy
- hash of the transaction
- outputidx
Let's replace them in Notepad. We the save the file after the changes and restart the wallet.
From the home screen
- Click on masternodes
- Click on the three dots and choose start
Now that the collateral is up to date, our node is ready!
Last modified 2mo ago