Qortal Project

The future of blockchain platforms

User Tools

Site Tools


faq_frequently_asked_questions

FAQ - Frequently Asked Questions

Here we will begin consolidating all of the Q&A's we get on the Discord Chat or elsewhere. Please keep in mind that this page is a work in progress!

  • Same rules apply during pre-launch as will apply during real chain
  • NO PRE-MINE (chain starts at 0 QORT)
  • Minting-enabled accounts require Sponsorship (if you did not purchase a QORTector or are a QORA Forger, you will require sponsorship)
  • Account must be level 5 or higher to sponsor (can sponsor up to 5 accounts at a time)
  • Sponsorship works by ‘Reward Share’ key in the UI and is assigned to any node
  • Either the sponsor or account being sponsored can run it
  • Node has to be completely online for 5 days (so may take longer than 5 days if node is not online for every block)
  • After 5 days, a ‘self share’ is issued and tied to that node’s sponsored account (thereby becoming an official minting-enabled account)

Additional Info (recap):

  • 5 QORT per block followed by decrease every 6 months until reaching 2 QORT per block.
  • Average 60 second block time (7200 QORT per day @ 5 QORT block reward)
  • The QORT you earn during pre-launch will NOT carry over to real chain (pre-launch QORT is not real)
  • Your level in pre-launch WILL carry over to real chain
  • What you earn is based on how many people you share with your account level bracket. Read here for more info on how this works: http://wiki.qortal.org/doku.php?id=qort_model_-_block_rewards
  • QORA forgers will be minting-enabled (does not require sponsorship)
  • QORA burners will start at a level between 1-5. (Level 5 is the max starting level for burners)
  • Level 1+ can mint
  • Level 5+ can sponsor others

The pre-launch chain's UI is currently only allowing users to connect nodes and send/receive QORT. All other data are 'place holders' and do not reflect your true data at this time.

If you are having trouble with installing, please refer to the #qort-installation-help section in Discord.

Qortal User Interface (UI) Info

Below are all of the new repository addresses (updated 3/8/20). YOU WILL NEED TO DELETE THE EXISTING FOLDERS for the UI, and clone the new repos.

https://github.com/QORT/qortal-ui

https://github.com/QORT/frag-default-plugins

https://github.com/QORT/frag-core

https://github.com/QORT/frag-qortal-crypto

For Windows: https://github.com/crowetic/qort-ui-install.bat/blob/master/qort-ui-clone-and-build.bat

FAQ Continued

How do I burn QORA? How does this work?: http://wiki.qortal.org/doku.php?id=qora_transition

QORA Holders on Poloneix and OpenLedger: QORA will not be accepted and burned from Poloneix and OpenLedger wallets due to these centralized services not allowing people to withdraw their coin. Sorry folks!

I burned QORA, do I have to mint in order to receive QORT?: No. Qora holders don't have to Mint to get their QORA/QORT conversion but can issue a reward share key to themselves to start Minting. 20% of each block reward will be split among the QORA holders who burned until they reach a total 250:1 transition.

Is there a pre-mine? What will be the supply of QORT: There is no pre-mine. There is no 'cap' on the total, but a decrease in block reward taking place roughly every 6 months in blocks. The starting block reward will be 5, decreasing every 6 months until reaching 2, where it will stay unless voted changed.

What's the difference between QORA forgers and holders? FORGERS are given minting accounts without a need of sponsorship. When you enter your seed to burn QORA, the system will tell you if you're a FORGER as well as your account level! FORGERS and QORA holders who burn their coin are two different things:

QORA holders who burn their coin, get into the transition: 250:1 (QORA:QORT). This is not paid in full immediately as we are starting from the genesis block with NO pre-mine. QORA holders will receive 20% of each block reward as a GROUP - more info on this will be provided in the ANN (we’re working on that now). When you burn your QORA, you will see what level you will be in the QORT system. This will determine your starting block rewards before you begin to level up further.

FORGERS were those who forged QORA blocks post block 500k. Forgers will become minters automatically (contingent upon providing a node to the network). They will not require a level 5+ sponsor.

How will the project be rolled out?: http://wiki.qortal.org/doku.php?id=qort_launch_phases

Can anyone connect a node and mint?: http://wiki.qortal.org/doku.php?id=becoming_a_minter

Are there different rewards based on account levels?: http://wiki.qortal.org/doku.php?id=qort_model_-_leveling_system

How do I check my account level?: http://localhost:12391/addresses/

For example, I burned QORA and my account level is 7. What are my rewards?: If you burned QORA, you will receive a portion of the 20% block reward for QORA holders. If you are also a Level 7 and minting, you will also receive a portion of the 20% block reward for Levels 7 & 8 bracket. The 'portion' that you will receive is based on how many other accounts will split up each reward. If you were not a FORGER or purchased a QORTector device, you will require a 5 day sponsorship period to begin minting and begin receiving the Level 7 & 8 reward portion.

faq_frequently_asked_questions.txt · Last modified: 2020/03/09 06:49 by gfactor