1. Earn Consistent Profits with Neoxa Smart Nodes!
Neoxa is a cryptocurrency that integrates blockchain technology with gaming. The primary goal of Neoxa is to enable players to earn Neoxa tokens while gaming, which can then be sold on exchanges for cash.
Most games have reward systems that make them more enjoyable and help attract users. This is especially true in multiplayer games like Diablo, Lineage, and Counter-Strike, where in-game currency and items are traded for real money through intermediary platforms.
Looking back, during the heyday of Lineage in South Korea, platforms like “Adena Mart” and “ItemBay” allowed users to trade Lineage’s in-game currency, Adena, much like foreign exchange, at market prices.
Neoxa leverages blockchain technology to enable cross-game transactions, ensuring fairness and transparency, two of blockchain’s key attributes. This makes Neoxa a cryptocurrency with significant growth potential, unlike other digital currencies that have struggled to find real-world utility.
2. Three Ways Neoxa Operates
For a blockchain to function, it requires continuous participation from multiple validators who operate nodes. Neoxa maintains its nodes through three primary methods: Proof of Work (PoW), Proof of Game (PoG), and Smart Nodes.
Proof of Work (PoW): This traditional mining method involves miners using GPUs to solve complex mathematical problems to validate the network. Neoxa uses the Kawpow algorithm, known for its ASIC resistance and high GPU power consumption. This resistance to ASICs aligns with the decentralized ethos, which is likely why Neoxa chose the Kawpow algorithm.
Proof of Game (PoG): In this unique model, gamers generate blocks through gameplay or game-related tasks and receive Neoxa as a reward. This incentivizes gamer participation, making it one of Neoxa’s most attractive features.
Smart Nodes: Neoxa Smart Nodes require the staking of 1 million Neoxa tokens. By running a Neoxa node on a VPS with an Ubuntu system, operators receive Neoxa rewards. Typically, this setup rewards 2,250 Neoxa every 56 hours, amounting to approximately 30,000 Neoxa tokens monthly.
3. Expected Earnings from Operating a Neoxa Smart Node
Let’s analyze the expected earnings from operating a Neoxa Smart Node.
To operate a Neoxa Smart Node, you need to stake 1,000,000 Neoxa tokens. As of July 15, 2024, the price per Neoxa token is $0.001129.
Neoxa Staking Cost:
$0.001129 x 1,000,000 Neoxa = $1,129 (approximately $1,129 USD)
Thus, operating a single Neoxa Smart Node requires an investment of around $1,129 USD.
Unlike traditional mining, Neoxa Smart Nodes don’t require physical hardware, only a VPS server, which costs approximately $4-5 per month or about $50 per year, which is negligible in this analysis.
Setting up a VPS with Ubuntu for Neoxa Smart Node operation might seem complicated at first, but beginners can easily set it up by following available guides and YouTube tutorials. Once set up, there’s little maintenance required.
After successfully setting up the Neoxa Smart Node, you’ll receive 2,250 Neoxa as a reward every 2 days and 7 hours.
Assuming a monthly reward of 30,000 Neoxa tokens, the annual expected earnings are as follows:
Annual Earnings Calculation:
30,000 Neoxa/month x 12 months x $0.001129 = $406 USD
With an expected annual profit of around $406 USD, and after deducting the $50 USD server cost, the net profit is approximately $356 USD, yielding a very high return.
Annual Return on Investment (ROI):
$356 USD (annual Neoxa profit) / $1,129 USD = 31%
This simple calculation shows an annual ROI of 31% compared to the initial investment.
If you operate 10 Smart Nodes, investing $11,290 USD, you could potentially earn around $3,560 USD per year.
In comparison, the net profit is higher than running a typical WordPress blog or online store.
4. Considerations When Operating and Investing in Neoxa Smart Nodes
While the analysis shows a conservative annual return of 31% from operating a Neoxa Smart Node, there are some important considerations.
Neoxa is still a relatively new cryptocurrency, and its future value is uncertain.
I began operating a Neoxa Node about a year ago when the price per Neoxa was around $0.00182 USD. I invested $1,820 USD to purchase 1 million Neoxa tokens and have been running the node ever since.
Although I’ve received 400,000 Neoxa tokens as rewards over the past year, the current price of Neoxa is around $0.00109 USD per token, resulting in a loss of more than 35% on the initial staking amount. Therefore, I’m currently recording a loss overall.
Cryptocurrencies are highly volatile, making them inherently risky investments. If you believe in the long-term potential of a cryptocurrency, it’s important to focus on increasing your holdings rather than worrying too much about short-term price fluctuations.
One of the advantages of operating a Smart Node is that aside from the staking cost, there are no additional expenses. You are guaranteed a certain number of Neoxa token rewards, allowing you to steadily increase your holdings. Once you accumulate another 1 million Neoxa tokens through rewards, you can set up an additional Smart Node, exponentially increasing your rewards over time.
There are already many online users operating more than 10 Neoxa Nodes. If the Neoxa project successfully establishes itself in the market and the price per token rises above $0.007 USD, the potential returns could be substantial.
Currently, with the Neoxa price at its lowest point and the cost of staking around $1,129 USD, it’s a relatively low-risk time to invest. In the past, Ethereum mining required a single graphics card costing at least $1,129 USD, and Neoxa’s ROI is objectively higher than Ethereum mining during its boom period.
5. How to Operate a Neoxa Smart Node
Here’s a simple guide to operating a Neoxa Smart Node. While the setup process might seem complicated for those unfamiliar with computers and IT, anyone can easily run a Neoxa Smart Node by following the steps below.
There are two main ways to operate a Neoxa Smart Node:
1. Using a Smart Node Hosting Service:
Several third-party services specialize in hosting Smart Nodes for various cryptocurrencies, including Neoxa. Notable providers include Pecunia and Orbitnode.
Search for these providers on Google, sign up, and select Neoxa Smart Node hosting. The monthly fee is around $4-$5 USD, which is quite affordable.
- Pecunia
- Node Orbit
I personally recommend using Node Orbit to run your Neoxa Smart Node due to its fast customer support and user-friendly interface. With Node Orbit, you can operate a Neoxa Smart Node for just $6 per month. Once it’s set up, you don’t have to worry about Pose Banned issues, and the node will run smoothly without further maintenance.
To get started, simply sign up for Node Orbit through the link below:
https://nodeorbit.com/referral?referral_code=60e4a504-d2c6-4a36-8de6-2650ba142157
2. How to Set Up Your Neoxa Smart Node on Node Orbit
Follow these steps to set up your Smart Node on Node Orbit. It might seem complicated at first glance, but the actual setup takes only about five minutes.
Step 1: Complete Your Purchase on Node Orbit
Purchase your node on the Node Orbit website to reserve an IP address. You will find this IP address in the dashboard, and it will be needed later in the process.
Step 2: Download the Latest Neoxa QT Wallet
Download the latest version of the Neoxa QT wallet.
Step 3: Complete Wallet Syncing
Open the wallet and allow it to fully sync with the blockchain.
Step 4: Encrypt Your Wallet
To secure your wallet, go to the “Settings” menu and select “Encrypt Wallet.”
Step 5: Generate a New Receiving Address
Create a new receiving address within your wallet.
Step 6: Backup Your Wallet
It’s crucial to back up your wallet.dat file. Go to the “File” menu and select “Backup Wallet.” Store this backup in multiple secure locations.
Step 7: Send 1 Million Neoxa to Yourself
Send 1 million Neoxa to your own wallet address (this is the current collateral amount for running a Neoxa masternode).
Step 8: Wait for 1 Confirmation
Wait for the transaction to receive one confirmation.
Step 9: Execute the protx quick_setup Command
Copy the example below into a Notepad file and modify it with your specific details.
protx quick_setup "cfc14de1e1cbe2bf619a6d152a0ade2e4841b6df8817327bbdf8f69e868a553c" "0" "192.168.10.1:8788" "GJ4XMMYGem8AV36yyojdiMfVAp9kEueTmq"- Transaction ID: Go to the “Transactions” tab in your wallet, right-click the transaction you sent to yourself, and select “Copy Transaction ID.” Replace the Transaction ID in the command with this copied ID.
- Collateral Index: Go to “Tools” > “Debug Console” and type
smartnode outputsto check whether the output is 1 or 0. Adjust the command accordingly. - Smart Node Server IP and Port: Replace the example IP with the IP address provided in your Node Orbit dashboard.
- Fee Address: Replace the example fee address with any address in your wallet that holds enough Neoxa to cover the transaction fee (this cannot be the same address you used to send the 1 million Neoxa). Running the
protx quick_setupcommand will require a small transaction fee (0.005 Neox is sufficient). In the Debug Console, you can use thelistaddressbalancescommand to see all wallet addresses with a balance. Choose one and update the command with that address.
Step 10: Run the protx quick_setup Command
In the Debug Console, run the protx quick_setup command. Copy the OperatorSecret value that is generated.
Step 11: Update Your Node on Node Orbit
Go to the Node Orbit dashboard, find your node, and click “Update Node.” Paste the OperatorSecret value you copied earlier. This will complete the node provisioning process.
Step 12: Check Node Status
If your node status shows “Ready,” it means the correct key was entered, and your node will be added to the blockchain shortly.
Important Notes:
- It will take around 52 hours to receive your first reward. If the node status is “Ready,” there is nothing more you need to do other than wait.
- A new address will automatically be created in the same wallet that holds your collateral. You will only be able to see this new address once you receive your reward. If the status is “Ready,” the reward will be reflected in your wallet.
3. Setting Up a VPS Server Yourself:
You can also rent a VPS server and set up the Smart Node yourself. I use Cafe24’s SSD server rental service to operate my Neoxa Smart Node.
Cafe24 SSD server rental costs $4 USD per month. After signing up for the Cafe24 SSD server rental service, install Ubuntu OS, and follow the commands in the link below to complete the server setup.
There are also many YouTube channels with Neoxa Smart Node setup guides, so you might want to watch those as well.
Neoxa Smart Node Setup Guide Link:
https://neoxa.gitbook.io/documentation/neoxa-documentation/smartnode-setup
6. One Year Review of Operating a Neoxa Smart Node
After operating a Neoxa Smart Node for a year, I noticed that rewards had stopped accumulating in my wallet. This is due to something called “Pose Banned,” where a node’s “Pose Score” exceeds a certain threshold (around 3,000 points), causing the Smart Node to be banned from receiving rewards.
I explored various solutions to this problem but couldn’t pinpoint the exact cause. The only solution was to restart the server by entering a command in the QT Wallet’s Debug console. While resetting the Ubuntu server installed on the SSD might be the best solution, Cafe24 charges extra fees for reinstalling the OS after a certain period, so I opted to restart the server instead.
Although I haven’t made a profit due to the significant drop in Neoxa’s price over the past year, I recently purchased an additional 600,000 Neoxa tokens at a lower price, lowering my average cost per token. I’m now operating two Neoxa Smart Nodes and gradually increasing my Neoxa holdings. When the Neoxa price eventually rises, I plan to sell off my holdings to realize a profit.
I hope you can also achieve steady profits by operating a Neoxa Smart Node with a small investment.
