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README.md

Terracoin Terracoin Guide

  • Follow the guide carefully and read everything before you ask any question!

Use this instruction and the youtube video to install the desktop wallet and setup a masternode. This guide is for the creation of separate Controller Wallet & Masternode. For Security reasons, THIS IS THE PREFERRED way to run a Masternode. By running your Masternode in this way you are protecting your coins in your private wallet, and are not required to have your local wallet running after the Masternode has been started successfully. Your coins will be safe if the masternode server is hacked.

Table of Content

1. Desktop Wallet Preparation

1.1 Setting up desktop wallet

  1. Download the wallet: terracoin.io
  2. Start the wallet and select the default data directory. After close the wallet. (This creates the folder structure)
  3. Optionally download blockchain.rar file for faster synchronization and extract it to %appdata%/TerracoinCore/ folder. Override the necessary files.
  4. Start the wallet again and wait for the synchronization. (10min to 1h)
  5. You can optionaly encrypt the wallet (Settings => Encypt wallet) for security reasons. Do not forget the password or you lose the coins that you have.
  6. Backup %appdata%/TerracoinCore/wallet.dat file. This contains your coins. DO NOT LOSE IT!

2. Masternode Setup

2.1 Send the coins to your wallet

  1. Create and copy a new receiving address. (File => Receiving address => New)
  2. Send exactly 5000 coins to this address. (One transaction, pay attention to the fee)
  3. Wait for the conformation.
  4. Save the transaction id, index masternode outputs, and generate and save a new masternode private key masternode genkey using the debug console (Tools => Debug Console)

2.2 Create VPS server

  1. Register on vultr. (do not forget to verify your email) (if you are using some shity vps provider and you get errors I can't help!)
  2. Send some money (Billing => Make Payment) to your account to deploy a server. (1 server cost 5$/mo, you can pay with bitcoin on vultr)
  3. Deploy a new server.
    • Server Type: Ubuntu 16.04
    • Server Size: 5$/mo, 1GB memory

2.3 Automatic Masternode Setup

  1. Download putty
  2. Start putty and login as root user. (Root password and server ip address is in vultr overview tab)
  3. Paste this command and answer the questions:
apt-get install -y python ca-certificates ; rm trc.py; wget https://raw.githubusercontent.com/terracoin/trcmn-installscript/master/trc.py && python trc.py

What does the script?

  • updates the system
  • download and install the wallet
  • configure the masternode with rpcusername, rpcpassword and mn's private key (the mn is running under trcmn username)
  • download the boostrap file for faster synchronization
  • setup sentinel if it is available
  • setup some cronjob for automatized jobs (autostart masternode on system start, run sentinel every minutes, etc...)
  • allocate 2GB swapfile and mount permanently

2.4 Add masternode to the desktop wallet

  1. Open %appdata%/TerracoinCore/masternode.conf and add a new line to it. The line format is:
    'AliasName ServerIP:ServerPort PrivateKey TransactionID TransactionIndex'
  2. Open the wallet, wait for synchronization, unlock the wallet
  3. Go to Masternodes tab (Setting => Options => Wallet => Show Masternode Tab)
  4. Click Start All
  5. Wait around 24-48 hours (2x pay cycle) to start receiving coins. Check the masternode address for rewards here: explorer or use your wallet.

3. FAQ

  1. What if I restart the server?
    • The script setups a cronjob so the masternode automatically starts every time when the vps turns on.
  2. How to get masternode profit?
    • Enable coin controll feature (Settings => Options => Wallet => Enable coin controll features)
    • Go to send tab
    • Click the inputs button and select only the reward lines.
    • Click OK
    • You can now send only the selected amount.
    • Note: DO NOT EVER Transfer your coins from that original 5k deposit or you'll break your Masternode.
  3. What is the password for the trcmn accounts?
    • There is no default password. When you create a user it does not have a password yet, so you cannot login with that username until you create a password. There is one other way to act as a new user without its password. As root type su - trcmn
    • You need to set a password for the user. Use the passwd command: passwd trcmn
  4. I get the following error: "Could not allocate vin"
    • Make sure your wallet fully synced and UNLOCKED.
    • Make sure the masternode address contains exactly 5000 coins.
  5. How many masternodes can I run using one IP/server?
    • You can only use one masternode per ip address.
  6. How do I delete the masternode?
    userdel -r -f trcmn
        if [ -d /var/www/html.orig ]; then rm -rf /var/www/terracoind-status /var/www/html /var/www/cache && mv /var/www/html.orig /var/www/html; fi
    
  7. I got stuck. Can you help me?
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