Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] [CHC] ChainCoin - Cryptopia & Novaexchange - Required update 0.9.3.1
by
sotarules
on 03/10/2017, 20:15:33 UTC
Quote from: zackie on October 03, 2017, 07:43:04 PM
Quote from: sotarules on October 03, 2017, 07:38:44 PM
Quote from: zackie on October 03, 2017, 07:03:36 PM
I have a general question regarding masternodes. When I set up a masternode, to which address will the rewards be sent?
According to the instruction, the address 0 should have the 1000 CHC in it, not more and not less. Will the software generate
more address to which the rewards are being sent?
And when I move my rewards to another address, does the software ensure that the address 0 ist blocked, so that none of the
1000 CHC coins are being moved?

Thanks for helping me to understand the masternode principle better. Smiley
I'm looking at my wallet now, and it appears that the rewards are sent to the same address that contains the masternode's "stake" 1000 CHC.  

First question answered. Even though that makes no sense. Have you ever withdrawn the rewards? How does that work without touching the
initial 1000 CHC? I mean, this coin should work like Bitcoin with inputs and outputs...
To answer this, you need to understand how wallets can "lock" amounts.  This is handled differently on masternodes versus the Chaincoin-QT UI.  For Masternodes on say linux, there are commands to lock and unlock amounts.  On Chaincoin-QT, when you go to the [Send] tab (with Coin Control Features enabled), you'll see a button [Inputs...] which will let you choose individual amounts with a checkbox.  By using this feature you can avoid digging into the original stake, and send out only reward earnings.

BTW I should say that to make Chaincoin-QT very useful, there are two things you can do (1) you can export the private keys from your masternode wallets and import them into Chaincoin-QT, and in so doing, you can see your earnings consolidated in Chaincoin-QT (2) there is an approach where Chaincoin-QT can be set up as a "control" node (I haven't yet done this and instructions are elsewhere).  I'm certain that with approach (1) it is awesome because you can see your earnings in the GUI without having to SSH into your masternodes, and you also have the benefit of Coin Control Features for sending out your earnings.  I'm planning to move to approach (2) when time permits, there are instructions for this elsewhere in this forum.