DNotes 2.0 Frequently Asked Questions:
Q: What is new with DNotes 2.0?
A: DNotes 2.0 is a major improvement on the original DNotes blockchain. The new blockchain will allow DNotes and its partner company DNotes Global to achieve its objective to connect DNotes to the modern world of finance and commerce. The new blockchain is faster, more secure, and consumes only a fraction of the electricity. It also allows custom invoices to be created and attached to transactions, and changes the economic incentives of the network to one that encourages savings with the switch to the Proof-Of-Stake algorithm, and paying 0.5% interest on balances that haven’t moved from a wallet address in a 30 day period (~6% per annum).
POS 2% Annualized Staking Reward Individual blocks reward will be Total Coins / 525,600 60 Second Block Target 0.005 Transaction Fee Source: https://github.com/DNotesCoin/DNotes2.0
Download Wallet: https://github.com/DNotesCoin/DNotes2.0/releases/tag/v18.104.22.168
Directory DNotes2 (C:\Users\USERNAME\AppData\Roaming\DNotes2 on Windows) CONF dnotes.conf (all lower case)
DNotes 2.0 Features Switch to PoS CRISP Reward - 0.5% interest every 30 days. Awarded by address. Calculated on a 30 day cycle. Automated Invoicing (First Phase) - Integrated blockchain invoice number
There will be a soft deadline where DNotes mined after that block will not be redeemable for 2.0 coins: 4/16/2018 Block# 2180897 133,574,552 Will be the total swappable amount of DNotes we create +20,000,000 Allocated to DNotes Global, Inc for Development & Growth Fund 153,574,552 Total DNotes 2.0 Created
The next update (TBD) will include: Deferred Staking
Q: How do I swap my coins?
A: DNotes stored on the DNotesVault are automatically swapped for you, you don’t need to take any action as the swap process has been done on your behalf.
If you already had a DNotesVault account prior to the swap and still have more coins to swap from exchanges or a PC wallet:
Login to your DNotesVault account. Click “historic” at the top, and send your old DNotes to one of your historical addresses. The DNotes you send will then be converted to the new DNotes 2.0 coins, and will show in your new DNotes wallet under “dashboard” after we have completed the swap process. Note: Please allow some time for this process to complete.
If you do not have a DNotes Vault account, you can perform a manual swap:
Visit the following address: https://goo.gl/forms/MMAKqbqejd1rwf1m2
Provide us with your contact email, and your DNotes 2.0 address. We recommend creating an account at www.dnotesvault.com
and sending us your deposit address. Otherwise you can download the DNotes 2.0 QT wallet here: https://github.com/DNotesCoin/DNotes2.0/releases
We will contact you with an address for you to send your old DNotes coins to, and send you back the new DNotes 2.0 coins.
Q: I had a DNotes Vault account with DNotes in it before the swap. Have my old DNotes been swapped into the new coins?
A: Yes. We have taken care of swapping all coins held at the DNotes Vault at the time of the upgrade. You don’t need to take any action.
Q: I found some DNotes from the old blockchain, can I still swap them for the new DNotes tokens?
A: Yes, we will continue to run the old blockchain and give a reasonable period of time for people to swap their DNotes to the new DNotes 2.0 tokens. We recommend that users take action to swap their coins as soon as possible, and may treat swaps on a case by case basis.
Q: I have a paper wallet. How do I turn them into the new coins?
A: You will need to download the DNotes v1.2 software, and then use the importprivkey command in the debug console. https://bitcoin.stackexchange.com/questions/5941/how-do-i-import-a-private-key-into-bitcoin-core
Once your wallet is updated, you will be able to send out your DNotes.
Q: What is the cutoff date for mined DNotes that can be swapped to the new DNotes blockchain?
A: We have set April 16th as the soft deadline. No DNotes mined after this date will be eligible to be swapped to DNotes running on the new blockchain. We will continue swap DNotes after that date, however the process will not be as easy and will take more time.
Q: What is Staking?
A: Staking your coins helps to support the DNotes network, and the network currently pays out roughly 5 DNotes every minute to one address on the network based on a probability that centers on how many coins the user is staking with as a percentage of the total number of coins being staked on the network. The DNotes network pays out ~2% of the total number of coins per annum. If 100% of DNotes were being used to stake on the network, then by probability each user could expect 2% growth in the number of coins they have. If only 50% of coins are used to stake, then those users could expect approximately 4% growth that year.
Q: Can I stake my coins on the DNotesVault?
A: You cannot currently stake your coins that are on the DNotesVault, you will need to withdraw your DNotes 2.0 to a local wallet and stake your coins from your local wallet. We will in a future release incorporate cold staking, which will allow you stake your coins while they are safely tucked away inside the DNotesVault. However, we do not have an ETA, it will be one of our highest priorities for next upgrades.
Q: How do I stake?
Disclaimer: It is recommended that you properly secure your computer and wallet, as well as make proper backups, before attempting to run your own staking wallet. Failure to properly secure your DNotes may result in loss or theft. If you are not familiar with the process, please start off small and familiarize yourself with the process.
You will need to download the DNotes QT wallet here: https://github.com/DNotesCoin/DNotes2.0/releases/tag/v22.214.171.124
Install the wallet (and we recommend creating a backup) Go to settings, and then ‘encrypt wallet’. Enter your password twice (and do NOT forget it, or you will not be able to access the wallet and we can not help you). Go to settings, and then ‘unlock wallet’, enter your password, and select “for staking only”. This will prevent any transfers from being made from your wallet without the password while you stake your coins. Soon the arrow at the bottom will turn green. This means that your coins are now staking.
You can watch a video of these steps here from our alpha release here: https://www.youtube.com/watch?v=2w9r2LoXM6c
Q: How do I earn the interest reward?
A: Our Cryptocurrency Investment Savings Plan (CRISP) payouts occur approximately once per month. All coins that haven’t moved address during that month period will accrue a 0.5% interest, which compounds to roughly 6.17% per annum. If you move your coins during that time, those coins will not receive the interest for that month.
Q: What exchanges are DNotes listed on?
A: Cryptopia, Nova, Yobit, & Trade By Trade
Q: Will DNotes 2.0 be listed on new exchanges?
A: The DNotes team are working to get DNotes listed on new and larger exchanges.
Q: When will Cryptopia relist DNotes 2.0?
A: Cryptopia is starting the delisting process and they have advised they will connect us with their relisting team once the DNotes have been removed from the exchange, in order to prevent confusion.
Q: Are the new DNotes 2.0 coins worth the same as the old coins?
A: Yes, they are worth exactly the same. However we can not predict what price movements will occur at exchanges once DNotes is relisted using the new coins.
Q: I have DNotes on the exchange, do I need to remove them from the exchange?
A: Yes, as soon as possible. Please see “How do I swap my coins?”
Q: I have Mac or Specific Linux OS, will there be wallets for these?
A: Yes, these are among our high priority items to get done as soon as possible.
If you have any other queries, please email [email protected]
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