FAQWhat is Donationcoin?Unlike the original "Internet Money" Bitcoin or other variants, Donationcoin is specifically moulded around donating to charity and to helping those less fortunate than ourselves.
Spencer Lievens and Muiz Rana have created this brand new cryptocurrency named "Donationcoin" to enable people worldwide to help other people to live a better life.
Cryptocurrencies like Donationcoin are peer-to-peer networks which form a digital currency and transactions network. These networks are secured by cryptography.
A decentralised network of nodes is responsible for creating new currency and validating transactions. Their supply is also controlled by particular nodes called miners.
In general, cryptocurrencies are designed to have a limited supply in order to keep the currency scarce and valuable.
To simplify slightly, the network are the software wallets which are all connected throughout the Internet.
Donationcoin has a core purpose of donation but can also be used to purchase goods and services both physical and digital or even in exchange for other Cryptocurrencies.
We encourage alternate trade as this will further increase the value and popularity of the coin and furthermore help people in less fortunate circumstances than our own.
Who produces Donationcoin?With Donationcoin new coins are rewarded to users known as miners. Miners use computing power to solve complex mathematical problems to sign transactions.
Once a miner has found a solution to these problems, their node will broadcast a block of transactions to the network. Once the network has agreed the solution is valid, the block is added to the existing blockchain and the miner is rewarded new currency.
The blockchain can be compared to a digital ledger which contains a record of all transactions made across the network.
Overtime the reward for mining blocks is programmed to decrease and as more miners compete to produce the next new block the difficulty of doing so is increased.
Where’s the Donationcoin stored and how are transactions possible across the network?
People simply download a software wallet for Donationcoin (Linux, Mac or Windows) which enables them to send and receive Donationcoin.
Wallet Downloads -
http://www.donation-coin.orgWhat’s happening with the premined Donationcoin?
There are a total of 18,000,000 Donationcoin that have been pre-mined.
13,500,000 Donationcoin will be split into 250K amounts and donated to Affiliated Charities (charities which accept Donationcoin and have their own wallets)
The remaining 4,500,000 Donationcoin are to be used for fundraising, advertising and further development.
How does a charity or non-profitable organisation accept Donationcoin?It is really easy to start excepting Donationcoin.
Simply download the wallet from
http://donation-coin.org and message us through our 'Contact Us' page with your wallet receive address and a link to your charity or non-profitable organisations webpage.
Upon a successful review we will send you a button and banner to say you accept Donationcoin, which will contain your Donationcoin wallet receive address.
We recommend your Finance Department download the software wallet to a secure computer. We have Linux, Mac and Windows versions available here -
http://www.donation-coin.orgWhat are the Technical Specifications of Donationcoin?Coin type: Scrypt
Coin Suffix: DON
Halving: 720,000 blocks
Initial coins per block: 50 coins
Target spacing: 4 minutes
Target timespan: 96 hours
Transaction Confirmations: 30
Coinbase maturity: 30 blocks
Premine: 20 %
Max Coinbase: 90,000,000
Seed Nodes: 2
P2P port: 11060
RPC port: 21060
How do I build the Linux Terminal Based Wallet?//Create a folder named Donationcoin in /home/ and unpack the contents of ~/donationcoin-master to that folder.
//Install dependencies via Terminal:
$ sudo apt-get install build-essential libboost-all-dev libcurl4-openssl-dev libdb5.1-dev libdb5.1++-dev qt-sdk make
//In terminal navigate to the donationcoin folder.
$ cd /home/Donationcoin
//Enter into the terminal:
$ make -f makefile.unix "USE_UPNP=-"
//This will produce a file named litecoind which is the command line instance of donationcoin-qt
//Now type:
$ strip donationcoind
//When finished you will have a file called donationcoind
//To run donationcoin
$ ./donationcoind &
//It will complain about having no donationcoin.conf file, we'll edit the one provided and move it into place
$ cd .. $ nano donationcoin.conf
//Edit the Username and Password fields to anything you choose (but remember them) then save the file
$ mv coin.conf /home/Donationcoin/src/ $ cd src $ ./donationcoind &
//The server will start. Here are a few commands, google for more.
$ ./donationcoind getinfo $ ./donationcoind getmininginfo $ ./donationcoind getnewaddresss
How do I build the Linux QT Wallet?Create a folder named Donationcoin in /home/ and unpack the contents of ~/donationcoin-master to that folder.
Install dependencies via Terminal:
$ sudo apt-get install build-essential libboost-all-dev libcurl4-openssl-dev libdb5.1-dev libdb5.1++-dev qt-sdk make
//In terminal navigate to the donationcoin folder.
$ cd /home/Donationcoin
//Enter into the terminal:
$ qmake -qt=qt4 "USE_UPNP=-"
//Then:
$ make
This will compile and build the QT Wallet which takes a little while, please be patient.
When finished you will have a file called Donationcoin-QT - Simply Double Click
//end of guide
What should my donationcoin.conf file contain?rpcuser=(username) //replace (username) with your own username.
rpcpassword=(password) //replace (password) with a password of your choice.
rpcport=21060
#rpcallowip=* //Uncomment to Solo Mine
#rpcconnect=127.0.0.1 //Uncomment to Solo Mine
addnode=81.98.168.158
addnode=107.170.117.214
listen=1
server=1
daemon=1
testnet=0
Where are your seed nodes located?We have 2 seed nodes in total. One seed node is in New York and another in the UK.
