In the simplest terms, a master node is a computer or server that has been set up to process Dash transactions quickly, in a method that is quite different from mining (which the Dash network also has). The owner of the master node is rewarded for operating the node with frequent Dash payments.
Well, only if you have about $300,000 sitting around. You see, in order to set up a Dash master node, you must have least 1000 units of Dash.
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