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Frequently Asked Questions (FAQ)

Hey everyone, we’re glad to have you with us in our Energi Community.

For questions relating to the Earndrop or any other Energi related issues, please refer to this FAQ document first.

This will be a dynamic page that we will keep updated as often as required. If your questions are not answered here, please feel free to contact us on our Discord or Telegram channels! Thank you for your support!

The following FAQ sections are presented in this document, in this order:

(click on a link to navigate to this section)

Gen 3 General Energi Business Model Staking Masternodes Treasury Market, price, market-value Wallet

We recommend that everyone reads this document carefully since most of our frequently asked questions are answered here. If your question is not answered here, please provide all the details related to your question to assist us with solving your problem.

As an example, note the difference between these two questions:
– “My wallet doesn’t work” 
– “When I open the wallet, I see the following message for 20 minutes already “Loading Block Index…” I tried to reboot the wallet, but it gave me the same message. How can I solve this?”

The more clear and specific details you provide, the easier, faster and more accurately your problem will be resolved.

General

Is Energi a fork of an existing blockchain?

Technically Energi is a fork of the Dash source code, but it is NOT a fork of the dash blockchain, so the supply of Energi started at 0 and is unaffected by Dash balances. Energi addresses and Dash addresses are not compatible with each other.

Will Energi be hardware wallet compatible?

We will pursue ledger support eventually, hopefully within a year.

Why aren't all team members shown on the About Us page?

As you can read on the About Us page, we have our reasons to not display all members at this moment in time.

Staking

What happens if my stake wins?

If your stake wins and validates a block on the blockchain, then your original staking UTXO is burned and a zero-fee transaction creates a new UTXO. Therefore, the maturity of your staking UTXO is reset.

Why is my stake showing as conflicted?

A conflicted stake means that another block staked at the same time as yours and that the blockchain accepted the other one. This is also known as an ‘Orphaned block’. Orphaned blocks are abandoned and the stake transaction is marked as “conflicted”. Sometimes this may be an indication that the staking wallet local time is not accurate.

How do stakes win?

A PoW-like hash target is calculated based on the current block difficulty. For each stake input a hash is generated with block time as the only variable parameter. This hash is compared against the required hash target multiplied by the amount of the stake input. Energi Consensus strictly limits block time interval.

How to disable staking?

Put “staking=0” into energi.conf

My staking indicator shows "staking is disabled"!

If wallet is unlocked then most likely you have no UTXOs eligible for staking. Try “liststakeinputs” command (since v2.1.1).

Does Masternode collateral amount stake ?

No. Stakes create a new transaction what would break Masternode setup. Therefore, all amounts of 10000 NRG are ignored by staking wallet. There is no consensus exception though.

Is it better to have one large UTXO or many small UTXOs?

A naive analysis shows that one large UTXO is better, but it does not take into account age maturity requirement and other paradoxical factors.

How to see what stake won the block?

As usual, coinbase is transaction #0, but stake is transaction #1 in the block.

Masternodes

What is a masternode?

Master nodes are full nodes that incentivize node operators to perform the Core consensus functions of running a blockchain.

What’s Energi’s take on masternodes?

Energi is also having a 4M coin treasury boost proposal for the purpose of getting coins distributed more widely likely through an Earndrop to allow more users to be able to get masternodes (to prevent a monopoly).

How many coins are required for a masternode?

One masternode will be 10000 Energi. Masternode rewards have already begun.

What about masternode coins lockup and payouts lockup? Are there any?

10k Energi coins are locked up to run a masternode. These cannot be moved if you want to keep running a masternode. The masternodes payouts will not be locked up.

What will the masternode rewards be like?

Masternode payouts have started Sept. 18th. General response: Masternodes receive 40% of the block reward, so that comes out to 9.14 NRG per block that will go to a single masternode. The daily/weekly/monthly rewards will be largely dependent on how many masternodes are running on the network. The logic behind the order of payments to masternodes is similar to Dash’s which you can read about here- https://dashpay.atlassian.net/wiki/spaces/DOC/pages/8880184/Payment+Logic. Masternode rewards to be quite high (consider if there are only 400 Masternodes on the network, each Masternode (which requires 10000 Energi) would generate 1000 Energi per month, or 12000 Energi per year (400000 Energi divided by 400 masternodes per month). If the number of Masternodes is 200, then each Masternode is generating over 2k Energi per month! Either way, this looks to provide a massive return of 100%+ return on Energi per year (at the start, and will gradually decline over time). We structured high masternode payments in this way on purpose as we want to strongly reward our Masternode holders and encourage the community to want to acquire Masternodes.

I'm setting up masternode using masternode guide on the website https://www.energi.world/masternode-setup/. I'm on step 30 and on mac Energi Core wallet there is no masternodes tab(masternodes tab is enabled in wallet options). Can you please check why is masternodes tab not showing up. I repeat I'm using Energi Core on Mac.

Energi conf wasn’t in the folder ~/.energicore/

How long does it take to sync the remote masternode?

It usually takes 2-4 hours, and may take up to 7-10 hours.

Why my sync process on a remote server gets killed?

We recommend you to use a virtual server with 4GB memory at least.

Error message: "not capable masternode: masternode not in masternode list".

A typo in an IP-address or related important data-field in one of the .conf files is likely to cause this.

Error: Failed to load masternode cache from C:\Users\...\mncache.dat, mnpaypments.dat, netfulfilled.dat.

These .dat files are used to keep the Energi client synchronized with the list of masternodes. Occasionally this file may become corrupted, especially if your machine has experienced a power failure or OS hang while the wallet was running. It causes when you don’t close the wallet properly (turn off rig when wallet is on for example). If you are experiencing this error, you can navigate to the EnergiCore folder, e.g. C:\Users\yourusername\AppData\Roaming\EnergiCore and delete the file “mncache.dat”. Then you should be able to launch the client. Always backup your wallet.dat file before deleting anything in the EnergiCore folder! If you accidentally delete your wallet.dat file and do not have a backup you will lose your NRG! Note: Other similar errors may get corrupted and stop wallet from loading. These files have also come up as corrupted – mnpayments.dat, netfulfilled.dat Energi core error

Masternode status shows "watchdog_expired" in local wallet

Has to do with how Sentinel was installed. Use the following command: find / -name ‘sentinel.py’ Try to find where it was installed. Result: Installed under /home/ubuntu/.energicore/sentinel/bin/sentinel.py , then run cd /home/ubuntu/.energicore/sentinel && ./venv/bin/python bin/sentinel.py && cd ~/

Treasury

What is the treasury, how does the Energi treasury work and what is possible with that?

Definition: A treasury system is a community controlled and decentralized collaborative decision-making mechanism for sustainable funding of the underlying blockchain development and maintenance. The treasury provides essential funding for development, user protections, marketing and other services for our cryptocurrency community, in perpetuity. It also may be worthy to note that if the treasury can be well utilized, those coins will hit the marketplace and cause a more wide distribution as well Positive feedback loop: Every dollar spent (from treasury) should yield more than a dollar of value gained We think certain treasury competitors don’t execute treasury possibilities to its fullest potential. This is part of the huge value gap Tommy saw when he created Energi. Added with a good business sense and background, and more importantly, the ability and resources to hire people smarter than himself in any specific aspect, is a recipe for success; and that’s exactly what we are doing. We have a 1 all-star recruiter currently, we are working to add 2 more. With 3 all-star recruiters being the engine behind our personnel-adding, we will be expanding strongly across development, marketing and operations. I foresee our development side alone having 30+ members within a year. We are not throwing mud at a wall and seeing what sticks with our treasury, its a very targeted, calculated effort. Know that we’ve grown from a 5 man team since launch (less than 2 months ago), to now over 20 active contributors. We are growing fast.

Where is the money spent? Why doesn’t have Energi 100% transparency?

We believe that there can be a balance between transparency and some anonymity. Just like how traditional businesses don’t reveal exactly who earns what and who got paid how much. On a detailed level that reaches personal payouts, and boundaries are crossed with employees. What these companies do is show their auditors how much was spent and reflect this under general departments, and that’s what Energi is doing here too. We believe a middle ground is possible, that we can be completely transparent in some matters and to be anonymous in some. Also, once the company gets bigger, payouts are going to be even more department and project orientated.

Energi Business Model

What is the total supply? Why is there no limit on the number of coins?

Putting a cap on the number of coins would mean the inevitable end of Treasury emission and Masternode rewards, which are pivotal to the survival and growth of the network. We see no reason to put such a “death sentence” on Energi. With inflation at 1 million coins per month, when the supply increases, inflation rate decreases as there would be 1m coins relative to the number of existing coins. E.g. after 1 year there would be 12 million coins, and an additional 1 million would be 8.33% inflation. After 3 years there would be 36 million coins and an additional 1 million will only be 2.77% inflation.

Why should I trust Energi?

Do not invest in Energi if you have any fears or qualms about it, we don’t want you to stress over it and we don’t want to deal with worrying about investors, part of the reason we avoided doing an ICO. Energi is largely experimental.

What/who is the backbone? Isn't this too centralized?

The Backbone is allocated by Tommy, Energi’s creator. Its original design was to function as Tommy’s incentive to create Energi (as there was no ICO or premine, and Energi was fully funded by Tommy) – at a modest 10% allocation, this was felt to be very reasonable to the early Energi community (who joined Energi from Tommy’s original Youtube fanbase).

Additionally, it’s important to observe the 10% on-going vested interest is effectively designed— in that, rather than a large up-front payment, like many projects incentive with, the Backbone has a strong vested interest in the future of Energi. It’s similar to a 3-5 year distribution schedule many ICO’s have done, but rather than just a few years, the incentive to lead and guide the network is spread out over its lifetime, and thus only has value over time if Energi is performing well as well.

Currently, the Backbone is largely utilized to reward and incentivize experimental or extra-circular initiatives such as Energimpact which is currently being fully funded by the Backbone and seeks to be one of the leading charity organizations in the world.

Energi proposals, votes and vote-tracking

You can see our current status on proposals and vote tracking here: https://vote.energi.network/ We will be improving this over time. For an example, please see the Dash proposal and vote tracking system here https://www.dashvotetracker.com/. In the future we have such detailed reports for Energi treasury spendings and allocations as well.

Market, price, market-value

Current listings on exchanges:

You can trade NRG on the following exchanges: Kucoin, BitBns, Digifinex, Bitladon, Beaxy and CoinAll.

Please see our website for more details. Here’s the link: https://www.energi.world/exchanges/

  1. Kucoin: https://www.kucoin.com/trade/NRG-BTC
  2. BitBns: https://bitbns.com/trade/#/nrg
  3. Digifinex: https://www.digifinex.com/en-ww/trade/BTC/NRG
  4. Bitladon:https://www.bitladon.com/energi
  5. Beaxy https://www.beaxy.com/trading-pair/NRG-BTC
  6. CoinAll https://www.coinall.com/spot/trade#product=nrg_usdt

Some exchanges provide extra trading pairs besides NRG/BTC.

Wallet

Where and how can I create an Energi wallet?

See www.energi.world/wallets how to set up a desktop wallet or a Coinomi wallet. There is also an instructional video available.

How can I backup my Energi wallet?

See https://youtu.be/65hQpiTZaNo?t=157 for detailed instructions on how to backup your wallet.

I forgot my password for my Energi Core wallet. Is it possible to recover my wallet?

The only way it will be possible to recover the wallet is if the wallet was backed up before being encrypted with a password. If there is no backup for the wallet, the only way to get back in the wallet will be to remember the password. If you know part of the password, there are programs out there that can attempt to brute force unlock it.

How can I restore my wallet?

To restore your wallet, you’re going to need to go into Users -> App Data -> EnergiCore and then replace the wallet.dat file with the one you backed up. (on Mac go to /Users/username/Library/Application Support/Energi Core) If you are restoring to a new machine or clean operating system install, you will need to create the EnergiCore folder or run the wallet one time before you can install your backed up wallet.dat file. Also see: www.energi.world/wallets.

Can I restore my Coinomi wallet using the Energi Core desktop wallet?

This is indeed possible if you have your seed words from Coinomi. Here are the steps to take: 1) shut down the Energi Core wallet 2) rename wallet.dat to some backup file (we will be making a new wallet) 3) edit energi.conf and add the following lines: usehd=1 mnemonic=”the seed words to restore” 4) launch Energi Core and your wallet will be restored 5) shut down Energi Core Wallet 6) remove the `mnemonic` line from energi.conf (no longer needed, only needed one time to generate the wallet) 7) Launch the Energi Core Wallet 8) (optional) encrypt the Energi Core Wallet

Wallet loading time: wallet not loading or takes long time to load.

The wallet may take some time, up to several minutes, to fully load an sync. If you see the following written text below, “Loading Block Index…”, everything is alright and you simply just have to wait a bit longer. In version 1.1.0 the loading time is drastically reduced.

Wallet version 1.1.0 but nodes still on 0.1.0. Why is that?

Each node is controlled by someone so they manually have to upgrade to the new version. The new wallet is compatible with the old version nodes so it’s no problem.

Everytime I request payment in the Energi Wallet, I get a different address. Why is this?

One wallet can produce multiple receive addresses. To see a list of your generated receive addresses, go to File -> Receive Addresses. You can also add/edit labels of the addresses.

Wallet compatibility with Linux versions.

Currently the released wallet only works on Ubuntu 16.04 LTS.

What is mixing?

Mixing is for private send – it is a way to anonymize some funds. If you hit the “info” button below that – it will give an explanation.