NEXUS DESKTOP WALLET

How to Install the Nexus Desktop Wallet

Windows Instructions

Prerequisites:
Before running the wallet, please consider space limitations and load times. Your disk storage must have available space to store all data including the full blockchain which is currently around 3GB in size.

Step 1
Download the wallet from the latest release listed in the Github link above. For Windows you would download the following file:

nexus-qt.exe

Step 2
Save or move the program to a location of your choosing. You can run the Nexus wallet executable from any location that you wish, including directly from your Desktop.

Step 3 (Recommended)
Before running the wallet, we recommend downloading the blockchain database manually. Nexus Earth maintains a copy of the blockchain data which can save many hours for the synchronization process.

  • Download a copy of the recent blockchain database (recent.zip) and save it to a location of your choosing. It may be helpful to store this in the same place where you put the wallet program.
  • Create the Nexus data folder. This folder must be in a specific location.

    C:\Users\{your login}\AppData\Roaming\Nexus

    To do this, hold down the Win key and press R (Win + R). In the run box, type %AppData% and press Enter. This will open the correct location.

    If you have previously run the wallet program, a folder named Nexus will already exist. If not, create one.

  • Right click on the recent.zip file that you downloaded and choose “Extract all”. Save the files to the Nexus data folder. You should now have the following files and folders inside of your Nexus data folder:

    datachain/
    keychain/
    blk0001.dat
    blk0002.dat
    wallet.dat (only if you have previously run the wallet program)

    If you have difficulty with the extract, you can alternatively double-click on the recent.zip file to open it. Select all items, then Copy/Paste to the Nexus data folder.

Step 4
You can now start your wallet. If you downloaded the database copy in Step 3, it should be able to complete synchronization in a short time. Otherwise it may take as much as a few days. Once it has completed synchronizing, a green check mark icon will appear in the lower right corner.

Step 5
Encrypt your wallet.dat file. Click the “Settings” menu, then “Encrypt Wallet”. Encrypting your wallet will lock it, requiring a password to send transactions. Do not forget or lose this password, or you will lose access to your wallet balance. The password is recommended to be a passphrase for improved security.

Step 6
Backup your wallet.dat file. Click the “File” menu, then “Backup Wallet”. This file contains the private keys to the addresses in your wallet. You may wish to keep a secure copy of your password somewhere in case you forget it or someone else (your spouse, for example) ever needs it. You can also save your wallet.dat file to a USB or other backup device.

You should backup your wallet.dat file again any time you create – or a Genesis transaction creates (see “staking” in the Nexus FAQ) – a new address. It is recommended to create a new file for each backup, in case of any issues, for instance by naming each backup wallet-yyyy-mm-dd.dat.

Step 7
When your wallet is set up, synced, encrypted, and backed up, you must unlock it with your password to stake or to send transactions. For staking, your wallet and computer must run continuously. It is recommended to unlock the wallet “for minting only” so that sending transactions stays locked. You will still receive your staking transactions.

To unlock your wallet for minting only, click the “Settings” menu, then “Unlock Wallet”. In the popup window ensure to check the “Unlock for Mint Only” option, then enter your password and click “OK”. After your wallet is unlocked for minting the staking icon in the bottom right will change to a staking clock. This indicates staking is enabled.

Mac OSX Instructions

Prerequisites: Before running the wallet, please consider space limitations and load times. Your disk storage must have available space to store all data including the full blockchain which is currently around 3GB in size.

Step 1
Download the wallet from the latest release listed in the Github link above. For Mac OSX you would download the following file:

nexus-qt.dmg

Step 2
Click on the nexus-qt.dmg file to open it. You will see a window with two icons. Drag the “nexus-qt” icon and drop it onto the “Applications” icon to install the Nexus wallet into your Applications folder, and allows the application to show on your Launchpad.

Step 3 (Recommended)
Before running the wallet, we recommend downloading the blockchain database manually. Nexus Earth maintains a copy of the blockchain data which can save many hours for the synchronization process.

  • Download a copy of the recent blockchain database (recent.zip) and save it to a location of your choosing. It may be helpful to store this in the same place where you downloaded the nexus-qt.dmg file.
  • Open the Terminal application from your Launchpad. The easiest way to find it is to open Launchpad, then type “Terminal” in the search field at the top. Once located, click on the Terminal application to launch it.
  • Type the following command and press Enter, replacing the folder and filename (~/Downloads/recent.zip) with the folder and filename you used when downloading the recent database.

    unzip ~/Downloads/recent.zip -d ~/Library/Application\ Support/Nexus

    When done, you should have the following files and folders inside of your Nexus application data folder:

    datachain/
    keychain/
    blk0001.dat
    blk0002.dat

Step 4
You can now start your wallet by opening Launchpad and clicking on the “nexus-qt” icon. If you downloaded the database copy in Step 3, it should be able to complete synchronization in a short time. Otherwise it may take as much as a few days. Once it has completed synchronizing, a green check mark icon will appear in the lower right corner.

If you receive an error that “nexus-qt” can’t be opened because it is from an unidentified developer, click “OK” and perform the following steps to allow this the application to run. This only needs to be done once.

  • Open the “System Preferences” app
  • Click on the “Security & Privacy” icon
  • On the “General” tab you may see the following:

    “Nexus-qt” was blocked from opening because it is not from an identified developer

  • Click on the “Open Anyway” button next to the message
  • You should see “nexus-qt” begin to open, but will see a warning with an “Open” or “Cancel” option. Click the “Open” button to open the application.

Step 5
Encrypt your wallet.dat file. Click the “Settings” menu, then “Encrypt Wallet”. Encrypting your wallet will lock it, requiring a password to send transactions. Do not forget or lose this password, or you will lose access to your wallet balance. The password is recommended to be a passphrase for improved security.

Step 6
Backup your wallet.dat file. Click the “File” menu, then “Backup Wallet”. This file contains the private keys to the addresses in your wallet. You may wish to keep a secure copy of your password somewhere too in case you forget it or someone else (your spouse, for example) ever needs it. You can also save your wallet.dat file to a USB or other backup device.

You should backup your wallet.dat file again any time you create – or a Genesis transaction creates (see “staking” in the Nexus FAQ) – a new address. It is recommended to create a new file for each backup, in case of any issues, for instance by naming each backup wallet-yyyy-mm-dd.dat.

Step 7
When your wallet is set up, synced, encrypted, and backed up, you must unlock it with your password to stake or to send transactions. For staking, your wallet and computer must run continuously. It is recommended to unlock the wallet “for minting only” so that sending transactions stays locked. You will still receive your staking transactions.

To unlock your wallet for minting only, click the “Settings” menu, then “Unlock Wallet”. In the popup window ensure to check the “Unlock for Mint Only” option, then enter your password and click “OK”. After your wallet is unlocked for minting the staking icon in the bottom right will change to a staking clock. This indicates staking is enabled.

Staking with Tritium Trust (Back-End)

Is there a minimum amount of NXS required to stake?

  • You can stake with any amount of NXS.
  • The guideline is to have at least 1000 NXS balance to eventually build up Trust Weight and interest rate.
  • With less than the guideline amount, you might not be able to build trust, but can still earn rewards at the base interest rate.
  • Even with amounts above the guideline, Trust Weight may decay back to the start multiple times before successfully establishing itself.

 

What is Interest Rate?

  • This value represents the current annual % staking reward that could be earned by keeping the wallet running and staking 24×7.
  • It is not a true interest rate (hence, why it is sometimes referred to as minting rate). Your balance is not earning interest. Instead, the wallet is generating rewards for operating a node and helping secure the network. The rate value is used to calculate the size of these rewards based on rate and time whenever it successfully generates a staking transaction.
  • As your level of trust increases, so does the interest rate.
  • Interest rate starts at 0.5% and increases to 3.0% over 364 days of successful staking (1 year). Increase is non-linear, and is faster at the beginning. It takes about 22 days to reach 1%, 60 days to reach 1.5%, and 120 days to reach 2%.

 

What is Trust Weight?

  • For new wallets staking Genesis, Trust Weight is based on coin age with a maximum of 11%.
  • After Genesis, Trust Weight is a measure of the overall trust score you have accrued. It is displayed as a percentage of the maximum possible trust score.
  • Near the beginning, this value will be much lower than with the original stake minter, and it requires more time investment to build up to maximum.
  • The time investment needed to build trust increases network security.
  • Trust score takes 84 days of successful staking to reach 50% Trust Weight, and 345 days to reach 100%.

 

What is Block Weight?

  • Block weight is basically a timer. Your wallet must generate a transaction before it reaches 100% for Trust Weight and interest rate to keep increasing.
  • It takes 3 days to reach 100%.
  • If your Block Weight reaches 100%, it will stay at 100% and both your Trust Weight and interest rate will begin to decay.

 

What is Stake Weight?

  • Stake Weight is a derivative value calculated from Trust Weight and Block Weight. It indicates their combined impact on chances to generate a staking transaction.
  • The value will change as Trust Weight and Block Weight change.
  • It is for display only as a metric, and is not directly used. Trust Weight and Block Weight values are used.

 

What is Genesis?

  • Genesis is the process by which a wallet creates a trust key to use for staking.
  • This is the first step for staking a new wallet.
  • When it creates a new trust key, the Genesis transaction will transfer your wallet balance to that key for staking. This has no impact on your wallet balance.
  • After the trust key is created, the wallet will no longer stake Genesis, and will instead stake Trust transactions.
  • Balance must have a minimum coin age of 3 days (72 hours) before the wallet will begin attempting to create a Genesis transaction.

 

What happens when my Block Weight reaches 100%?

  • Trust Weight and interest rate will begin to decay.
  • Without a transaction they will eventually decay back to the start.
  • Generating a new Trust transaction resets Block Weight (ie, starts a new timer) and trust/interest continue increasing from their current values.
  • Trust decays at a 3:1 rate to which it was gained. For a new key, it takes 1 day for 3 days of trust to decay. An established key holds onto trust much longer. A 3-month key takes a full month to decay completely, for example.
  • Establishing a new trust key is not immediate, by design. The network does not give away trust for free. You may see staking values decay back to the start multiple times before it manages to generate transactions frequently enough to keep going.
  • If it decays back to the start, the wallet will display minimal Trust Weight of 1.11% with interest rate 0.5% and Block Weight 100% until it generates a transaction. This is normal. It is not stuck.

 

I have not received a Trust transaction in a few days, is that normal?

  • It is not at all unusual to go a number of days without a Trust transaction. You will get them less frequently than with the original stake minter. They will also be larger, all else being equal, because of the longer time spent.
  • Trust transactions are less frequent when Trust Weight is low.

 

What affects block production in staking?

  • For new wallets staking Genesis, total balance and Trust Weight calculated from coin age.
  • For wallets after Genesis, total balance, Block Weight, and Trust Weight calculated from trust score.

 

WHERE TO BUY NEXUS

Nexus Exchange - Bittrex
Nexus Exchange - Coinspot
Nexus Exchange - Upbit
Nexus Exchange - Bittrex
Nexus Exchange - Cryptopia

NEXUS DEVELOPMENT U.S., LLC
P. O. Box 3354
Tempe, AZ 85280

1-623-565-8545

[email protected]
[email protected]

The Nexus Embassy UK
Market Square, Bishops Stortford
Hertfordshire
CM23 3UZ

[email protected]