Wienchain FAQ

Here we will compile a list of frequently asked questions (FAQ), we hope that it is helpful to all.

Q: Wallet can’t transfer huge amounts of WIEN and other tokens at once?
A: You may try to use the UTXO under the Tools function, alternatively try to transfer smaller amounts in a few transactions, separate into smaller amounts to transfer. 

Q: Unable to mine?
A: Please make sure you have updated to the latest T-Rex software. Use this link https://github.com/trexminer/T-Rex/releases to find the latest release of T-Rex. Ensure that all your software are updated.

Q:How can I easily set up a Wienchain masternode without technical skills?
A: In order to serve their community members, individual communities have taken initiatives to help their members to set up masternode.  One of the most reliable and biggest Wienchain communities provide this service www.wienhash.com, a website providing simple ways to set up masternode.

Q: Can the collateral 25000 Wien be kept in my own wallet?
A: Yes, the service provided by Wienhash.com include steps where you make the collateral in your own wallet address.

Q: Is it possible to transfer from WenX exchange?
A: Yes, it is certainly possible, the withdrawal process is as usual, however, the USDT deposit address provided is also a WENX address, therefore if you withdraw to the USDT address from WENX it will be considered as internal transfer, the advantage is that there will be no fees charged for this internal transfer.  Please make sure the exact amount arriving at the deposit address must be exactly 25,000 WIEN.

Q: The collateral is 25000 wien,every month what is the charges?
A: 25usdt per month including set up, maintenance and rental of VPS server.

Q: Will the USDT be refunded?
A: No.

Q: Is the Wien refundable? The collateral tokens will be refunded?
A: The collateral Wien will be refunded upon the end of the rental of VPS.

Q: How long will it takes before the masternode is set up? When will I be notified?
A: Upon successful payment and setup of collateral address, the backend will automatically set up the masternode usually within 24 hours.

Q:Where will I be notified?
A: Under your profile in Wienhash.com/ My masternodes. There will be indication whether your masternode is active.

Q: May apply for more that 1 masternode in one application? Do I have to transfer multiple 25000 or can I transfer the amount needed in one transaction?
A: Yes you may apply for more than one masternode, you can transfer the USDT to the dedicated address, each setup of masternode will deduct the amount from the balance that you have in your Wienhash account. However you will need to setup a different collateral address and sign the verify message individually. 

Q: Does the masternode get equal amount?  Is it fixed return? What is the expected reward a day?
A: One block is 1 minute in Wienchain.  Every block reward is 280 WIEN.  The miners get 21% of the block rewards. Masternodes get 49% of the block rewards.  The governance system aka proposal system gets 30% of the block rewards.
280 x 49% = 137.2 Wien.  If there is only one masternode, then this masternode will get all the rewards.   If there are 1000 masternodes, 137.2 divide by 1000 masternodes, each masternode gets 0.1372 WIEN per block.

Therefore, there is no fixed return, it all depends on the number of active masternodes.

Note: 1 day = 60 minutes X 24 hours =  1440 blocks.

Please visit https://explorer.wienchain.com/ there is an indication of “Estimated Income per Masternode”.

Q:The masternode rewards will be given monthly or daily? Where to check my rewards?
A: The token rewards are distributed daily, you may check your transaction records with a web browser https://explorer.wienchain.com/  then on the top right key in your address and search, you will be able to see all the transactions of the particular address.  

Q: The payout address is my WENECO’s wienchain deposit or receive address,do I need to create a new wienchain wallet?
A: No, it is not necessary to do so, the WENECO wallet Wienchain address is a valid address and you may also search your transaction records on explorer.wienchain.com.  Alternatively, in your WENECO blockchain wallet, you can also view the Wienchain transaction history in WENECO.

Q: I have just transferred 300 USDT from WENX pro,how to view my TXID?It indicates 0 fees for withdrawal, how to fill TXID?
A: The deposit address is WENX’s USDT ERC20, so it will be internal transfer, there will be no TXID, and no fees, please indicate internal transfer in your TXID section. With the wienhash.com service, after transferring, you just have to wait for the payment to be released by WENX, once it has arrived in your Wienhash account, it will automatically take you to the next step, to set up your Collateral address.

Q:What is the future application for Wien?
A: Wienchain is an open source public blockchain, following the footsteps of Bitcoin and Ethereum, which also took years to research and develop.  As a public blockchain, steps by steps, we welcome more communities to join and develop Wienchain.  All development requires time and monetary resources. There is a simple function to issue a token or point on Wienchain, when there are more and more people using Wienchain, there will be better for Wienchain development.  In Wienchain, we hope to realise token economy and benefits all businesses and allow them to update their technology through Wienchain.

Q:What is the rental period?
A: Currently, there is a 6, 12 months package and 18 months package. 

Q: Do I need to do anything to receive the rewards daily?
A: No, you don’t need to do anything manually, the rewards will be transferred to your payout address automatically.

Q: Is it possible to use my WEN wallet address for the payout address? 
A: Yes, you may use your WEN ECO wallet address (wienchain) as the payout address.

Q: Do the daily token rewards affected by the number of masternodes or the global hashrate?  If lower global hashrate means less Wien will be issued?
A: Please be clear that approximately 1 minute is a block on Wienchain and every block 280 Wien will be rewarded.   This is fixed amount for everyblock, the rewards will have a deflation of 6% every year.  That means next year every block will be 280 Wien minus 6%.  So, everyday there is a fixed amount of Wien rewards, so it is not affected by the number of global hashrate or number of masternodes.

 Example: minors get 21% of block reward. 

280 x 21% = 58.8 WIEN are rewards to miners per block.

If the global hashrate is 1HZ, then this 1HZ will get all the block rewards = 58.8 Wien.  

If the global hashrate is 1000HZ, 58.8 Wien divided by 1000 = then estimated 1HZ gets about 0.0588 Wien per block.

However, in all blockchain, the higher hashrate miners are bound to be rewarded more than lesser hashrate miners. You may check Estimated Income per MH on https://explorer.wienchain.com/