Top 10 Qtum New User Questions — April 22, 2018

Jerónimos Monastery, Lisbon, Portugal — Questions — Arco da Rua Augusta

AN UPDATED VERSION OF THIS BLOG IN DECEMBER 2018 WITH UPDATED LINKS AND COMMANDS, IS AVAILABLE HERE.

Below are the top 10 questions and answers for new Qtum users, but first an update on Qtum Mainnet Performance and Network Weight.

Network Weight

New users standby — this is some more detailed analysis of the blockchain performance — you can skip to the Q&A section below.

Wallet estimated network weight calculation, blocks 135,871–140,046

Block Spacing

Block spacing for Qtum averages around 144 seconds, or 600 blocks per day. Block reward difficulty is adjusted to keep this average spacing, but there is some variation in block spacing caused by the random lottery algorithm which selects the block reward winner. The histogram chart below shows the number of block spacings grouped in 16-second buckets for April 15–21, for those block spacings from 2 seconds to 256 seconds. For this period, there were two block spacings greater than 20 minutes, and the longest block was 138,226 at 26:55.

Block spacings for 2 to 256 seconds, April 15 to April 21

Telegram Translation

The Qtum Community on the social networks has worldwide members (just as there are Qtum nodes worldwide). Qtum Telegram has channels for English, Spanish, Chinese, Korean and Russian language. To help communication you can use Google Chrome with the Telegram Web-version, and let Google Translate improve your language skills:

right click on the foreign language text and select “Translate to <Your preferred language>”

Top 10 New User Questions

Welcome to Qtum! Cryptocurrencies welcome new users to their communities. New users mean growth, adoption, new ideas and new questions. The only stupid question from new users is the unasked question. Cryptocurrencies and blockchain 2.0 is such a fast-growing technology and there is so much to learn that active users a few months senior to you appear to be experts. As a new user, I hope this Q&A will accelerate your knowledge about Qtum, and in a few months, you can be an expert too. If you are brand new to Qtum, the glossary in the references below may help with the terminology.

Q 1.

How many QTUM do I need to stake? How do block rewards for staking work? Are there masternodes?

Q 2.

What wallets can be used for staking?

Qtum Core Wallets

Q 3.

What other wallets are available?

The Web wallet — such pretty!

Q 4.

My QTUM has gone missing. The Blockchain Explorer says my balance is too low, wtf? [Reference 2]

Q 5.

I used to get regular block rewards for staking, but not so much recently. How can I check that my wallet is setup correctly for staking?

Q 6.

My wallet is not syncing. What can I do?

Q 7.

How can I see QRC20 tokens in my wallet?

Q 8.

How can I keep my wallet safe?

Please don’t be texting and walk in front of this truck
Please don’t take my seed words

Q 9.

How can I enter commands to see more information about my wallet?

Q 10.

Where can I find out more about Qtum?

Jerónimos Monastery, Lisbon, built 1501–1600

References

1. Annual Return in percent = (100 x 600 blocks/day x 365 days x 4 QTUM/block) / Network Weight in millions

5. Qtum Glossary

Block rewards — the reward for Qtum Proof of Stake miners, currently pays out 4.0 QTUM every ~two minutes in a random lottery process.

Blockchain researcher, occasional blogger