Frequently Asked Questions

The Blocknet

The Internet Of Blockchains

And

Decentralized Application Platform via Xbridge technology


How to open the (Debug) Console?
Open the blocknet wallet.
Go to the menu option: Tools
Go to the menu entry: Debug Console.
Where can I download the latest Blocknet wallet?
Either use:
- http://blocknet.co/
Or
- https://github.com/BlocknetDX/BlockDX/releases
What are the requirements to run a Blocknet node?
1. You will need 5000 Blocknet (these will be locked in the wallet as long as you run a node)
2. you will need a computer able to run Blocknet and all supported wallets
What actions are needed to set-up a Blocknet Node?
1. you will need to create a new wallet
2. you will need to encrypt that wallet
3. you will need to send exactly 5000 Block to the new wallet
4. you will need to create the correct .conf files
5. you will need to download all supported wallets
6. have all supported wallets and blocknet synched
(debug console) Why use the command: servicenode genkey
This generates and outputs your service node private key needed in the blocknetdx.conf and servicenode.conf stored in the BlocknetDX folder
(debug console) Why use the command: servicenode outputs
This outputs the servicenode TX information needed in the servicenode.conf stored in the BlocknetDX folder
(debug console) Why use the command: servicenode start-alias snode-name
This will start the Blocknet node via the debug console
(debug console) Why use the command: servicenode debug
This will show whether a service node was successfully started or a reason why it did not start.
(debug console) Why use the command: servicenode status
This will output your service node information and a successful message at the end of it
(debug console) Why use the command: dxGetCurrencyList
to show your list of wallets running on your xbridge (This only works when your servicenode is activated)
How to start your service node?
You will need to start your Blocknet wallet with the extra command options -enable-exchange
How to add the extra command options when starting the Blocknet wallet?
You will either need to create a batch executable file or in windows add the command options in the shortcut you can create of the wallet
What does staking mean?
Staking means gaining interest over the amount of Block stored in your wallet.
What type of staking is Blocknet using?
Blocknet uses the same staking mechanism as the currency PIVX is using. Staking is also better known as Proof-of-staking or PoS.
How much interest can be gained from staking?
The interest from staking is calculated as follows:
- Every minute 1 block token is generated.
- This Block token is then devided amongst staking wallets and service nodes.
Your staking wallet will not gain interest every minute but will every few hours obtain interest. Depending on the amount of Blocks stored in the wallet the time between the staking rewards will vary. Lower amounts will take longer then larger amount.
What is a Blocknet service node
A Blocknet service node is a wallet with the purpose of connecting different currencies and allows them to communicate with each other. The currently functioning purpose is to allow trading between the currencies