Masternode based cryptocurrencies are quite popular and Dash was one of the first few to introduce the concept. With Dash’s prices rising, every new investor is looking ahead to new similar cryptocurrencies and Bulwark seems to dash ahead in the race. Wondering why? Here’s a little more info about it.
What is Bulwark
If you’ve heard of Bulwark before, I’m sure that’s mainly because it’s a masternode based cryptocurrency (which sure makes it an attractive investment). But while most cryptocurrencies focus on privacy at the software level or through obfuscation/coin mixing, Bulwark’s looking to upgrade hardware too to improve privacy.
Apart from that, another important aspect of Bulwark’s strategy is the role of the community. Bulwark’s idea of taking the community consensus into consideration in order to bring about any significant changes means they value network interest first rather than just theirs.
A brief idea of the hardware changes Bulwark aims to bring in:
Secure Home Node
Remember, we mentioned masternodes above? Well, if you’re looking for the simplest of ways to set it up (and we mean in minutes), the Home node is just what you need. We’d recommend you get it from Bulwark’s official site where it is available for about $100 (to be paid in BWK). To get things up and running, the only requirements are a speedy internet connection, a power outlet and 5000 BWK tokens which act as collateral.
The Hardware Wallet
When you think of hardware wallets, the Nano ledger becomes the obvious pick for many. Is it worth it? Definitely. These wallets are compact, secure and easily available but for many experts, their closed source nature is often an area of concern.
Bulwark, with its open source wallet, looks to resolve this concern. This means in case of bugs, any member of the community can provide a fix so solutions are quick (told you, it’s a community-friendly project).
The main focus of the project is user-privacy and The Onion Router (TOR) plays a vital role in ensuring that. The traffic is routed through the TOR or the I2P network which ensures your privacy is never compromised with and yet you enjoy all the benefits of the Home node.
3 Ways of getting started with Bulwark
The Bulwark team has its door open to new developers and marketers so if you think you’ve got it in you, its sure worth a consideration. Bloggers and YouTuber’s too can contribute by featuring Bulwark in any of their articles of videos respectively.
Make most of POS System
The proof of stake protocol is sure an eye-catching feature of Bulwark. This means all you need to do is hold your Bulwark coins in either a private wallet on your desktop/laptop or through a masternode and you get rewarded for helping with the smooth operations of the network. In short, you play the role of a miner.
Setting up the masternode was never as cheaper as now. Currently, it should cost you around $4000 but during the bull market, the same masternode did cost around $80,000. And with an ROI rate of about 160%, you can earn back your invested 5000 BWK tokens in just 8 months.
Yup, there’s still a lot to come from this project which means there’s plenty to look forward to in the coming months to excite new investors but until and unless you’ve got money to burn, we’d advise not investing in any cryptocurrency as the risks like the rewards are greater too.
Project site: https://bulwarkcrypto.com/