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5ire Docs

List of FAQ

Can a user bind a wallet to a node? I want to be a validator, for this I need to bind the wallet to the node, but I don’t understand how to do this.

Answer: You don’t need to bind a wallet to a node. Simply click on the Create a New Wallet option in the Explorer. You can acquire 5ire coins by using the faucet, then proceed to run a node and stake by following the instructions provided here

Can the Testnet be accessed by using android or should we use a PC?

Answer: Currently we only support full nodes. Android is not supported. So you will have to use your personal computer to access the Testnet by logging onto our 5ire website.

How can the system know that the Validator-Node that I am running is mine even though I have a 1000 5ire Coins (native) stake/bond, so that my Validator-Node status becomes active?

Answer: The user will have to enter their validator node information which is located at the bottom left corner.

The script command to run the Validator-Node is at first glance the same as the script command to run a Full-Node, don’t we include our 5ire wallet in that script? How does the system know that we have tried running the 5ire node?

Answer: The script command is different for the validator node. No, we don’t include our wallet address while running a validator node on the system.

Why haven’t I still received rewards in my account balance even after doing the payout transaction?

Answer: Anyone can initiate a payout, as long as they are willing to pay the transaction fee. The rewards for that validator will then be calculated by 5ireChain network and distributed to the top 512 nominators of that era in proportion to their stake.

Other FAQs:

As the rewards expire after 84 eras, users cannot claim rewards after this period. 5ireChain stores the last 84 eras of reward information (e.g. maps of era number to validator points, staking rewards, nomination exposure, etc.). This means that all rewards must be claimed within a maximum of 84 eras. Rewards are added to the existing bond. To transfer the amount, the user would first need to unbond and wait for unbonding duration. After the unbonding of 5ire Coins is done, the user needs to do a transaction to transfer the amount from locked balance to available balance.