Black Book Crypto founder Joseph Giove, who attended the most recent staging of the annual event as a guest auditor, wrote the piece in the hopes of bringing more public attention to the business prospects of master noding, as literature about the process and YieldNodes itself remains scarce.
More information is available at https://blackbookcrypto.com/yieldnodes-audit-2022-report-and-analysis
In his report, Mr. Giove first introduces readers to the concepts behind YieldNodes, particularly its unique business model that traditional blockchain participants may not be familiar with. He describes the process as a “pay for service” system, where participants generate revenue by maintaining a master node—a critical part of the entire blockchain infrastructure in charge of block verification and governance.
YieldNodes automates the entire process for its clients using a proprietary algorithm. “The YieldNodes business model incorporates this algorithm in its own unique formula that deploys its shared resources for the benefit of all its members,” Mr. Giove wrote.
In addition to fulfilling an important role in the blockchain, one other factor that lends credence to YieldNodes is the road map unveiled by its parent company, Decenomy, during the audit. According to Mr. Giove, Decenomy is positioning its eponymous system—which stands for “decentralized economy”—as a “counter concept” to decentralized finance, or DeFi. Unlike DeFi, however, Decenomy will be defined by tangible assets instead of digital-only assets, regulatory mechanisms through smart contracts, master node staking, and transparency.
Mr. Giove also discovered that the concept of Decenomy will soon have a real-world “test case” in the island nation of São Tomé and Príncipe in Africa. Moreover, a number of projects are set to be launched using this concept, including sustainable energy sources for São Tomé and Príncipe and Malta, a sewage purification and recycling project using hydrothermal carbonization, and decentralized mobile charging for electric vehicles, among others.
“YieldNodes-Decenomy is a viable, real project with an inspiring future, and a team that cares about its members and holds them as its number one priority,” Mr. Giove said, dismissing notions that the project is dubious. “On the contrary, the team has a long-term vision, and they fully intend to fulfill it.”
Interested parties who want to know more can access a full-length video analysis featuring Mr. Giove at https://youtu.be/AtJZ_LPYZ08
Name: Joseph Giove
Email: Send Email
Organization: Black Book Crypto
Address: 953 Mountain View Dr, Lafayette, CA 94549, United States
Release ID: 89080183