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PREMINING.md

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#WARNING

This information is outdated!

#IoP Blockchain

Wallet Instalation

In order to install the IoP Wallet that will allow you to send and recieve IoPs you need to follow this procedure:

For Ubuntu users

Follow the instructions to install here http://repo.iop.cash/index.html under the Ubuntu section.

After installation is complete, start the IoP wallet by running IoP-qt from the command line.

$ IoP-qt

For Windows users

Follow the instructions to install here http://repo.iop.cash/index.html under Windows section.

Address Generation

In order to recevie tokens from the Premined stage, you need to generate an IoP address. Follow this simple steps:

  • Open your IoP wallet.
  • Go the the Receive Tab.
  • In the label field specify what this address is going to be used for. For example: PreMined Tokens
  • Click on the Request Payment button to generate the address.

Next you need to save this address on the IoP Tokens spreadsheet on Google Drive, by posting a comment in the Token Tracking System tab in column IM labelled IoP Wallet Address in the row that corresponds to your name.

Securing your wallet

Securing your address, funds and wallet must be a priority. In case of computer damage, reinstall or loss you must be able to get your tokens back.

Wallet backup (this is the easiest way to secure your IoP tokens)

You can create a backup of your wallet and all your keys by selecting Backup Wallet from the File menu in your wallet.

The file you specify, will be used in case you need to restore your wallet.

Private Key backup (this is a secondary way to secure your IoP tokens)

During this initial phase, new IoP Wallet version will be launched regularly, so you will need to reinstall the wallet often. You can just backup the address you generated for the premine stage, by exporting the private key.

In order to export the private key, follow these steps:

  • Open your wallet.
  • Go to Help and Debug Window
  • In the new window that was opened, swtich to Console tab.
  • White the following command replacing address with the one you want to export:
dumpprivkey [address]
  • The result will be a string that you must keep secure. Write it down and keep it safe.

You can restore this private key in another wallet by following the same procedure, but executing the following command and replacing the privKeyString with the real private key you exported before:

importprivkey [privKeyString]

You will only need to import your private key if you delete and uninstall the IoP wallet.

Time locked funds (current status: no tokens have been sent yet in this way. wait for announcement on slack)

Certain amount of tokens will be send using a time constrained transaction. meaning that those IoPs will be available to be spent after certain date.

The time constrains that are applied on the IoP Token spreadsheet are:

  • 6 months
  • 1 year
  • 2 years
  • 4 years
  • 5 years

Important: The constraint starts from the date the distribution was executed, and it is up to the IoP owner to claim these funds after that date.

You can Watch-only this IoP coins in your wallet by importing a IoP address that was automatically generated during the execution of the distribution.

You can view your addresses for each date in the PreMining Distribution Output

In order to import your address, do the following:

  • Open your wallet.
  • Go to Help menu and Debug Window
  • Go to Console tab and execute the following command
importaddress [address from Columm B] [Label from column D]

For example, for this row:

Name Address IoPs TimeConstraint RedeemScript
Rodrigo Acosta 2DHTYYgTDRWnKgEYZfJ4twBbxQeLNZ1rTY1 1465,930962 1 year 0800000157768bdce6b17576a914460eb1ec408c4c3a204eb04841cd9f86f1936f4c88ac
Rodrigo Acosta 2DB9f5vMS4Eu8dJPEoy55nCZtmxRbrUoXjk 1465,930962 2 years 080000015776c2cb66b17576a914460eb1ec408c4c3a204eb04841cd9f86f1936f4c88ac

The commands to execute would be:

importaddress 2DHTYYgTDRWnKgEYZfJ4twBbxQeLNZ1rTY1 "1 year"
importaddress 2DB9f5vMS4Eu8dJPEoy55nCZtmxRbrUoXjk "2 years"

The address of the tokens that are available Now is the one you provided in the spreadsheet, so you don't need to import that one.

Blockchain Reset

WARNING: The tokens that have been distributed might not be final. The blockchain might need to be reset at any time, so please, do not sell you tokens now.

CURRENT STATUS: The current blockchain in mainnet is intended to be definitive. If during October 2016 there is no blockchain reset, we will all consider it irreversible. Do not sell your tokens before that.

Blockchain reset refers to the action of reseting the blockchain, which is starting a new set of connected blocks and swtiching your wallet to start using this new blockchain.

Important: you only need to reset the blockchain If you were previously running the wallet and the Admin tell you there is going to be a blockchain reset.

To swtich your wallet to the new blockchain you must delete your local copy of the blockchain by following these steps:

  1. open your wallet
  2. Go to Help and debug window
  3. On the Information tab, search for the path your data directory is. (label datadir). In ubuntu, most common path is ~/.IoP and is a hidden directory so you may need to press Ctrl+H to see it.
  4. Close your wallet.
  5. Go to the datadir directory. You should be able to see files and folders like blocks, database, db.log, wallet.dat, etc.
  6. Delete everything including files and directories, except the wallet.dat file
  7. Open your wallet again.

Once the wallet is running, it should connect to the seeds nodes which already are in the new blockchain and syncronize with the new blocks.

####How Can I validate that I'm in sync with the blockchain?

In order to validate that your wallet is syncronized with the general consensus you need to findout how many blocks you have downloaded and compare it with the block explorer.

To know how many blocks you have locally, perform the following actions:

  • Open your wallet.
  • Go to Help and debug window
  • On the Information tab search for the Current number of blocks.

Then compare it with our block explorer at http://mainnet.iop.cash/ . The numbers should be the same.

Testnet blockchain

The testnet blockchain works exactly as the Main blockchain, but the IoP sent and received have no value. This is the perfect environment to test new functionality we will be incorporating to the wallet.

In order to start your wallet in the TestNet mode, you need to specify it when you start your wallet in the following way.

$ IoP-qt -testnet

The splash screen of your wallet will let you know that is running on TestNet.

Remember that the coins have zero value on testnet.

To open your wallet back in the Main or production blockchain, execute it as always without any parameter.