Updatemasternode

Updatemasternode

With V3 of the DeFiChain-Node from December 2022 many new features included.

The updatemasternode command can be used to change an existing Masternode. The Owneraddress (the address with 20K DFI Colateral), Operatoraddress and the Rewardaddress can be changed. Please note that only one value can be changed per command. If you want to create a new Owneraddress and a new Operatoraddress, the updatemasternode command must be used twice.

You need your MasternodeID to use this Command. The MasternodeID is your TransactionID from the creation of your Masternode. You can find the ID in the Desktop Wallet when you click the Tab Masternodes, select your Masternode and check the last line named Hash.

The commands for the desktop wallet:

Change Owneraddress:

updatemasternode "EnteryourMasternodeID" {"ownerAddress":"EnterNewOwneraddress"}

Changing the Operatoraddress:

updatemasternode "EnteryourMasternodeID" {"operatorAddress":"EnterNewOperatoraddress"}

Change or set a Rewardaddress:

updatemasternode "EnteryourMasternodeID" {"rewardAddress":"EnterNewRewardaddress"}

Be aware, when you redirect your Rewards to a Exchange like Bittrex or Kucoin or another Smart Contract (e.g. CAKE), make sure beforehand that the service supports this redirection. Masternoderewards are created directly from the blockchain and are initially in "immature" status for 99 blocks and cannot be used. Exchanges often use smart contracts to assign incoming transactions to your Exchange Wallet via a batch command; this is not possible in this case.

Redirecting to your LightWallet can also be problematic, if your rewards go there directly to your main address, you can't make a transaction there for 99 blocks. If you run a Vault, this can be a problem under certain circumstances, if you have to react quickly. Optimally, you set up a new DFI address on the LighWallet that you use only for your masternoderewards.

Masternodestatus: If you change any of the values with the updatemasternode command, your masternode will go through the following states:

Testnet:

updatemasternode Rewardaddress: Switch in State TRANSFERRING, ENABLED after 60 blocks

Target Multipliers do net reset.

updatemasternode operatoraddress: Switch in State TRANSFERRING, ENABLED after 60 blocks

Target Multipliers do net reset.

updatemaster Owneraddress: Switch in State TRANSFERING, PRE-ENABLED after 60 blocks, ENABLED after 10 blocks = 70 blocks

All Target Multipliers reset to 1.

Mainnet:

updatemasternode Rewardaddress: Switch in State TRANSFERRING, ENABLED after 1008 blocks

Target Multipliers do net reset.

updatemasternode operatoraddress: Switch in State TRANSFERRING, ENABLED after 2016 blocks

Target Multipliers do net reset.

updatemaster Owneraddress: Switch in State TRANSFERING, PRE-ENABLED after 2016 blocks, ENABLED after 1008 blocks = 3024 blocks (~24h)

All Target Multipliers reset to 1.