Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real time, just like your have Bitcoin full nodes and is always up & running.
But masternodes are considerably different in their functionality than normal nodes.
They are different because they perform several other functions apart from just keeping the full blockchain and relaying blocks/transactions as a full node does in Bitcoin/Litcoin.
Some of the special functions that these nodes perform are:
These masternodes are not standalone but they are always communicating with other such nodes to make a decentralized network and are often referred in short form as MN.
SUPPORTED CURRENCIES (PAYMENTS): DACH, BTC
PRICE (BTC): 0.01 BTC
PRICE (DACH): The price will be calculated on daily rate equivalent to BTC-Price (-10% DISCOUNT)
REQUIREMENTS: VPS required (the customer provides us with a VPS - Username/Password)
WALLET: Wallet installation (the customer need to have his Wallet installed )
Collateral: Coins (the customer need to have the required coins for collateral)