Frequently asked questions

Can I upgrade my free blockchain to a paid blockchain?

It is not possible to upgrade your free blockchain to a paid blockchain.

The best solution is to order a new paid blockchain using the order wizard on our website.
You can define the same or different values and you can upload a custom logo and icon.

Keep in mind that every blockchain is unique, your free blockchain cannot communicate with your paid blockchain.

What is a premine?

The following only applies if you selected the premine option.

A premine is a large amount of coins that are received by mining the first block.
Make sure you mine the first block before making your coin publicly available.

We advise you to mine at least 10 blocks to help secure your premine.

How long to mine a block?

You can calculate how much coins you mine per day using the following formula.

block_reward / (difficulty * 4294967296 / hashs_per_sec / 3600 / 24)

You need to replace "block_reward" with the current block reward.
The "difficulty" must be replaced with the current difficulty of your blockchain.

Change "hashs_per_sec" with the hashes your computer generates.

Have a look at the following page's for an estimate of how many hases your computer generates.

Scrypt
https://litecoin.info/Mining_hardware_comparison

SHA-256
https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison

How do I mine a block? (Scrypt PoW/PoS)

Open your wallet, and make sure you are connected to another wallet.
You are connected if you see the icon in the lower right corner of your wallet.

The message "No block source available" will disappear once you mine your first block.


Important: replace "yourcoin" with the name of your coin.

Close your wallet and create the file yourcoin.conf in the folder "%APPDATA%\yourcoin\".

Paste the following text into yourcoin.conf and save the file.

rpcuser=rpc_user
rpcpassword=8cde5e64e7297b1cb4c495d1a
rpcallowip=127.0.0.1
rpcport=4210
listen=1
server=1
addnode=node.walletbuilders.com

Download the latest version of cpuminer from here and extract the zip file.

Create a .bat file named mine.bat and paste the following text into mine.bat.

minerd --url=http://127.0.0.1:4210 --userpass=rpc_user:8cde5e64e7297b1cb4c495d1a

Save the file inside the extracted cpuminer folder.

Open your wallet and execute mine.bat to start mining your first coins.

How do I mine a block? (Scrypt/SHA-256)

Open your wallet, and make sure you are connected to another wallet.
You are connected if you see the icon in the lower right corner of your wallet.

The message "No block source available" will disappear once you mine your first block.


Go to Help.
Click Debug Window.
This is the console where you will execute all commands.

Type this command to start mining your first block:

setgenerate true -1

If you want to use a specific number of CPU cores, instead of -1, type the number of cores.

You can type the following command to see the status of generation.

getmininginfo

It will take about +/- 10 minutes to mine your first block, depending on your computer hardware.

How do I start staking?

The following only applies for a scrypt PoW/PoS blockchain.

Open your wallet, and make sure you are connected to another wallet.
You are connected if you see the icon in the lower right corner of your wallet.

Leave your wallet open and unlocked to stake.
Keep in mind that stake can only be generated when you have a balance in your wallet.


The following only applies if you encrypted your wallet.

You can unlock your wallet using the following instructions.

Go to Help.
Click Debug Window.
This is the console where you will execute all commands.

Type this command to start staking:

walletpassphrase REPLACE_WITH_YOUR_PASSWORD 9999999 true

Replace the text "REPLACE_WITH_YOUR_PASSWORD" with your password.

The number 9999999 is the amount of seconds you want to leave your wallet unlocked for staking.

How do I disable staking?

The following only applies for a scrypt PoW/PoS blockchain.

You can disable staking by adding a parameter to your config file.
Use the following procedure to stop staking in your wallet.

Important: replace "yourcoin" with the name of your coin.

Close your wallet and create the file yourcoin.conf in the folder "%APPDATA%\yourcoin\".

Paste the following text into yourcoin.conf and save the file.


staking=0

What is a node?

A node distributes your blockchain among the people who use your blockchain.
The second feature of a node is that it verifies the transactions of your blockchain.

It is not required that you run a hosted node on our hardware.
You can setup a node on your own VPS using the instructions on our website.

How do I connect with a node?

You can manually connect to a node using the following instructions.

Important: replace "yourcoin" with the name of your coin.

Close your wallet and create the file yourcoin.conf in the folder "%APPDATA%\yourcoin\".

Paste the following text into yourcoin.conf and save the file.

addnode=REPLACE_WITH_YOUR_IP_OR_HOSTNAME

Replace the text "REPLACE_WITH_YOUR_IP_OR_HOSTNAME" with an IP address or hostname.

E.G. addnode=37.97.242.80 or addnode=node.walletbuilders.com

How do I setup a node on Ubuntu server?

You can setup a node on your own Ubuntu VPS using the following instructions.

Rent a VPS running Ubuntu 14.04 server.

Update your VPS using the following commands.

sudo apt-get update
sudo apt-get upgrade

Install the necessary dependencies using the following commands.

sudo apt-get install build-essential libssl-dev libdb-dev libdb++-dev libboost-all-dev git libssl1.0.0-dbg
sudo apt-get install libdb-dev libdb++-dev libboost-all-dev libminiupnpc-dev libminiupnpc-dev libevent-dev libcrypto++-dev libgmp3-dev

Download the deamon file from MyCoin and upload it using SCP/Filezilla. (Only available to paid customers)


Important: replace "yourcoin" with the name of your coin.

Extract the tar file using the following command.

tar -xzvf yourcoin-daemon-linux.tar.gz

Install the daemon.

chmod +x yourcoind
sudo mv yourcoind /usr/bin/

Create the config file.

mkdir $HOME/.yourcoin
nano $HOME/.yourcoin/yourcoin.conf

Paste the following lines in yourcoin.conf.

rpcuser=rpc_yourcoin
rpcpassword=69c863e3356d3dae95df454a1
rpcallowip=127.0.0.1
listen=1
server=1
txindex=1
daemon=1

Start your node with the following command.


yourcoind

How do I compile a daemon for Ubuntu server?

You can compile a daemon for Ubuntu 16.04 using the following instructions.

Update your Ubuntu machine.

sudo apt-get update
sudo apt-get upgrade

Install the dependencies to compile from source code.

sudo apt-get install build-essential libssl-dev libdb-dev libdb++-dev libboost-all-dev git libssl1.0.0-dbg
sudo apt-get install libdb-dev libdb++-dev libboost-all-dev libminiupnpc-dev libminiupnpc-dev libevent-dev libcrypto++-dev libgmp3-dev

Create a directory for the source code.

mkdir source_code
cd source_code

Download the source code from MyCoin and upload it using SCP/Filezilla. (Only available to paid customers)


Important: replace "yourcoin" with the name of your coin.

Extract the tar file using the following command.

tar -xzvf yourcoin-source.tar.gz

Go to the src directory of your source code.

cd src

Execute the following command to compile the daemon.

make -f makefile.unix RELEASE=1

The compiling will take about 30 minutes depending on your system.

Your compiled daemon named yourcoind can be found in the src folder when compiling is finished.


How do I fix the error "out-of-sync"?

The wallet can show the message "x hours behind" or "out-of-sync" when no block is found for a couple of hours. This message will disappear when the next block is found.

The error message "x hours behind" or "out-of-sync" can be triggered when the last block is mined longer ago than your block time.

E.G. Blocktime : 10 minutes, last block found 30 minutes ago.

You can fix the error by mining your first or next block.

How do I fix the error "Incorrect or no genesis block found"?

The warning "Incorrect or no genesis block found. Wrong datadir for network" is caused by a different blockchain with the same name.

You can fix this using the following procedure.

Important: replace "yourcoin" with the name of your coin.

1) Close your wallet.
2) Make a backup of the folder "%appdata%\yourcoin".
3) Remove the folder "%appdata%\yourcoin".
4) Start your wallet.

How do I fix the error "500 internal Server Error" in minerd?

The following only applies for a scrypt PoW/PoS blockchain.

The error message "500 internal Server Error" in minerd is generated because your blockchain passed your last PoW block height.

You can now only stake for PoS blocks.

How do I start my wallet on Ubuntu desktop?

You need to install the following dependencies to start your wallet in Ubuntu desktop.


apt-get install build-essential libssl-dev libdb-dev libdb++-dev libboost-all-dev git libssl1.0.0-dbg libdb-dev libdb++-dev libboost-all-dev libminiupnpc-dev libminiupnpc-dev libevent-dev libcrypto++-dev libgmp3-dev libqtgui4

How do I start my wallet on Microsoft Windows?

Windows SmartScreen is a new feature in Windows 8 to help protect users from running unverified software downloaded from the internet. It's a nice feature but it sometimes blocks our generated wallets.


Microsoft Windows SmartScreen

You can fix this using the following procedure.

1) Right click the wallet (exe) and select "Properties".
2) Select "Unblock".
3) You can now start the wallet (exe).


Microsoft Windows File Unblock