A Masternode is a high ranking role for participants in Proof-of-Stake consensus ecosystems.
While traditional Proof-of-Stake blockchains’ have a single role for participants to play in consensus; in Masternode PoS blockchains there exists a hierarchical structure of consensus node roles.
Masternode environments are more centralized than Proof-Of-Work environments however they benefit from reduced network latency, increased transaction processing, and improved overall user experience.
The most popular role of Masternodes are to publish new blocks, non-master nodes package blocks and verify transactions. This delegated role structure is why network efficiencies are increased.