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Masternodes are computers on the public internet that run the Terracoin wallet and make decisions, voting on budget funding, locking transactions with InstantSend. Masternodes are required to have 5000 Terracoin collateral, a dedicated IP address, and be able to run 24 hours a day without a more than a 1 hr connection loss. Masternodes get paid 45% of the block reward on every block, 4.5 TRC which is distributed to masternodes one at a time in a fair manner. Typically, around 4.5 TRC is paid to each masternode every 24 hours