Instant Transactions: SwiftTX transactions are confirmed and spendable within seconds, guaranteed by the network of masternodes, with no need to wait for multiple confirmations in order to be confident in the validity of the transaction.
Masternodes are nodes running the same wallet software on the same blockchain to provide extra services to the network. These services include coin mixing for increased privacy of transactions, instant transactions and a decentralized governance that provides a decentralized budgeting system with an immutable proposal and voting systems. Masternodes are mighty elements of the CIGA network. On the one hand, you can think of them as your very own private savings account (you put 888 CIGA into a locked account, and in return you are rewarded with interest). On the other, Masternodes are what help secure the community and relay transactions across the network.
4. Budget & Governance System.
Full decentralized budgets that are paid directly from the blockchain via superblocks once per month.
Budgets go through a series of stages before being paid:
- prepare – create a special transaction that destroys coins in order to make a proposal
- submit – propagate transaction to peers on network
- voting – lobby for votes on your proposal
- get enough votes – make it into the budget
- finalization – at the end of each payment period, proposals are sorted then compiled into a finalized budget
- finalized budget voting – masternodes that agree with the finalization will vote on that budget
- payment – the winning finalized budget is paid