How to start node with SINOVATE SetUP

Infinity Node Setup Guide

I. PRE-SETUP PREPARATION

  • [x] Download and install the Sinovate local wallet from our Official Github channel
  • [x] If you do not own any SIN yet, purchase the needed Burn and/or Collateral amount from one of the exchanges we're listed on: TradeOgre, Stex.com, Crex24, txbit.io, Coinsbit, Catex.
  • [x] Send the needed amount to the newly installed local wallet.
  • [x] In order to build an Infinity Node, you will require two transactions: the “BURN” and the “Collateral“.
  • [x] Enable coin control on local wallet in Settings, Options, Wallet and flag Enable coin control feature.
  • [x] Create a secondary SIN address from a different wallet, to be used as Backup Address during the Infinity Node creation.

Infinity Nodes are of three kinds:


Tier Burn Collateral
SIN-MINI 100,000 SIN 10,000 SIN
SIN-MID 500,000 SIN 10,000 SIN
SIN-BIG 1,000,000 SIN 10,000 SIN

The Burn amount represents the sum of coins that will be “burnt” and no longer be available for trading.

The Collateral (10,000 SIN) will remain locked inside your wallet. Unlocking and moving these coins will disable the node.



II. STARTING THE SETUP

?> When you open the wallet, ALWAYS let it fully sync. It will take a long time the first time you open it, so, please, be patient.


1. SIN Backup Address creation

As further security, a new feature has been included with Infinity Nodes: The Backup Address. If for any reason, your PC gets hacked and your local wallet gets compromised, creating a new Infinity Node with a Backup Address from another wallet source will avoid losing your Infinity Node.

Follow the steps below to create a new SIN address to be used only for this purpose and maximize your funds' security.

  • Open your local SIN wallet
  • From the wallet top menu, click on Help then on Debug Window and Console.
  • Enter the following command:

    createwallet "SIN_Backup"
    
  • Make sure to select the new wallet before proceeding. See screenshot below:

Image-bkup-01

  • Now generate the new SIN address in the new wallet:

    getnewaddress
    
  • Select and copy the generated SIN address.

  • Now get the private key for your new SIN address:

    dumpprivkey YOUR_ADDRESS
    
  • SAVE AND SAFELY STORE THE NEW SIN ADDRESS AND THE PRIVATE KEY. YOU WILL BE ABLE TO GET FULL CONTROL OF THE ADDRESS ONLY WITH THE PRIVATE KEY. NEVER, UNDER ANY CIRCUMSTANCES, SHARE YOUR PRIVATE KEY WITH ANY OTHER PERSON.

  • Once you have stored your new SIN address and the private key in a safely place, you can now unload the second wallet. Enter the following command:

    unloadwallet
    

Image-bkup-02

  • NOW IT IS EXTREMELY IMPORTANT that you physically delete the temporary wallet folder SIN_Backup from your computer. Also make sure to empty the bin.
  • Close your local SIN wallet.
  • Locate the previously created temporary wallet folder on your hard drive SIN_Backup:
    • Linux: ~/.sin/wallets/
    • MAC: ~/Library/Application Support/SIN/wallets/
    • Windows: %appdata%\SIN\wallets
      • (This defaults to C:\Documents and Settings\YourUserName\Application data\SIN\wallets on Windows XP and to C:\Users\YourUserName\Appdata\Roaming\SIN\wallets on Windows Vista, 7, 8, and 10.)
  • Delete the SIN_Backup folder.

Image-bkup-03

  • Empty your bin.
  • Please use the new generated backup SIN address during the next section (The Burn transaction).
    • You can use the same backup address when creating multiple Infinity Nodes.

2. The Burn transaction

Open your Sinovate local wallet and create a new receiving address:

  • Top menu, click on File, then on Receiving address
  • Label the address (for example: 01-BIG – see screenshot).

Image 01

  • Copy that newly generated address.
  • Go to the Send tab of the wallet and paste the address in the Pay To field.
  • In the Amount field, enter the Burn amount you wish to build your Infinity Node with (100,000 / 500,000 / 1,000,000) – see screenshot below.
  • the amount has to be exact, no more, no less.

Image 02

IMPORTANT: DO NOT check the little checkbox that says Subtract fee from amount. Leave it as it is.

  • Click Transactions tab and wait until the transaction has 2 confirmations.
  • After the confirmations are there, return to the Send tab, and click on the OPEN COIN CONTROL button.
  • A list with balances should open. Select the amount with the BURN amount (in our example it would be the 1,000,000 coins). You select it by checking the little checkbox on its left and click the Ok button to confirm. This will ensure that the next process, the burn transaction, will be done only from that source.

Image 03

  • From the wallet top menu, click on Help then on Debug Window and Console.
    • Before you enter the burn command, make sure you unlock the wallet if your wallet have been encrypted. Open the debug console/window and enter this command: walletpassphrase password 999 (replace password with your wallet password). The 999 is the number of seconds your wallet will remain unlocked, so any number will do.
  • As shown in the screenshot below, enter the burning command in the debug window's bottom field. The command will be infinitynodeburnfund, followed by the BURN amount (100000 / 500000 / 1000000) and followed by the backup address.
  • Please use the backup address previously generated. (Section 1. SIN Backup Address creation)
    • The backup address must be from another wallet to receive the funds to that wallet in case of a hack of your local wallet.
  • Make sure the command is entered properly, because you will no longer be able to recover these coins.
  • In the screenshot below we have an example for the SIN-BIG Infinity Node, so the command in that case is

    infinitynodeburnfund yourSINaddress 1000000 yourSINbackupaddress
    

Image 04

!> REMEMBER: THE SCREENSHOT SERVES ONLY AS AN EXAMPLE! If you have any doubts at this point, it's best to contact the Sinovate Support before entering the command without fully understanding the consequences of a mistake.

  • After you entered the BURN command, you will receive an output similar to the one from the screenshot below.

Image 05

  • From Transaction tab, get the Burn transaction information double clicking the transaction. Copy the Transaction ID and Output Index in Notepad, you will need this info later.

Image 06



3. The Collateral transaction

Unlike the Burn transaction, which takes the coins out of reach, making them unspendable, the Collateral Transaction contains 10,000 SIN coins that will remain locked inside your local wallet, but fully under your control.

  • Go to the Send tab, in your Sinovate wallet, and send exactly 10,000 SIN to the SAME ADDRESS you used for the BURN transaction.
  • From Transaction tab, get the Collateral transaction information double clicking the transaction. Copy the Transaction ID and Output Index in Notepad, you will need this info later.

Image 07




Step 1

Login or Create an account on setup.sinovate.io

Step 2

When you login click the SERVICES tab and pick ORDER NEW SERVICES from the drop down menu

Step 3

Choose your billing cycle,12 months is much better value of course. After you pick your billing cycle click CONTINUE

Step 4

Click CHECKOUT if you are happy with your order.

Step 5

Enter your email address and also your Discord if you want and then click COMPLETE ORDER

Step 6

PAY the required amount of SIN to the address provided. Please Note DO NOT CLOSE THIS PAGE DOWN

Step 7

Send the AMOUNT of SIN coins to the address YOU were provided from your invoice in step 6.

Step 8

You will be then sent to the ORDER CONFIRMATION page. Please Note this may take 15 Mins to process to this page

Step 9

Click SERVICES

Step 10

Click on the INFINITY NODE HOSTING section

Step 11

Wait for the final confirmation that your SERVER is ready

Step 12

Once your server is ready you will be given the TWO pieces of information you need to move over your Infinity Node. These will be in the red boxes I have marked below.

Step 13

Click TOOLS and open INFINITY CONFIGURATION FILE

Step 14

From the INFORMATION you got from STEP 12. Place that information into the INFINITY NODE CONFIGURATION FILE like below. SAVE and CLOSE wallet down

Step 15

Open wallet and let it SYNC and then click the INFINITY NODE tab

Click START ALIAS
Click YES

Your INFINITY NODE will then go into Pre-enabled mode and after a short while will say ENABLED

Step 16

You have SUCCESSFULLY started your INFINITY NODE

Start