It’s a big decision to make.

All around us we see one Masternode project after another. They come in all shapes and sizes. Participating in a worthy Masternode project can be rewarding, while participating in the wrong Masternode project will lead to heartache.

But where to start? Is there a way of telling which project has a better chance of success than another?

Definitely.

There are four key components that need to be looked at when analyzing a Masternode project to determine its chances of being successful. Before participating, make sure these four traits are in place:

TEAM: Without a doubt the most important part of any project is the team. The team creates and is responsible for executing the vision. Look for a strong team with diverse experience that covers at minimum cryptocurrency, Masternodes, Blockchain, technical, and business areas. A team should be made up of many diverse individuals capable of delivering on the vision of the project. Ensure each team member displays their full name and a verifiable link to social media such as LinkedIn is available. If there is a strong team in place that is ready, excited, and engaged to execute on the vision you may have a project worthy of joining.

PRODUCT: Back in the day (2018) it was enough to say your Masternode project was a cryptocurrency that was better than Bitcoin because it has instant transactions and low fees. For projects such as DASH and PIVX, this was enough to win a very sizable share of the market. Today, in order for a Masternode project to succeed, it must have a utility or a product to offer. Analyze the problem the project is trying to solve and ask yourself do they either have or are they developing a product that will solve this problem? Is the team capable of developing the product and then delivering it to market? Is there a real demand for the product? Through analyzing and answering these questions, it will assist you to determine whether the project is worthy of your participation.

COMMUNITY: Crypto and Masternode projects with a strong community are far more likely to be successful than projects with a small or no community. In the past it was enough to invent a better mousetrap. Today, however, not only do you have to build a better mousetrap, you must also be able to market the new product. A strong community can do a great deal to market the project and the project’s products for next to nothing. Community members come from diverse backgrounds and have contacts in many different industries. Strong communities are also an indication that others have done research and have decided that it is worthy to participate in. Determine how big and how active the community is on a daily and weekly basis. A lot of activity and support is a strong indicator of a viable project.

ADOPTION: Adoption refers to the use of the Masternode project’s token/crypto by others outside of the project. The Masternode project’s crypto/token must be used in some fashion. Determine if there are individuals or businesses using the project’s token/crypto or products. Without users adopting the crypto/token for some use there is very little chance of long-term success of the crypto/token project. Determine what the token/crypto is being used for and how often it is being used.

Careful research in each of these areas will reveal whether or not you should participate in any Masternode project. While there are many Masternode projects that would not pass this analysis, the ones that do are certainly worth doing more research and becoming more involved with.

Masternodes have a lot to offer individuals and businesses and will undoubtedly become a new technology that is demanded. Taking the time to research projects can save you a great deal of heartache down the line.

After you do your research you can find the right project, support the team, get involved with community, and assist with adoption, and you’ll be on your way to the next great Masternode project.