Frequently answered questions on Solidar
- The Solidar client is a graphical user interface (GUI) designed and optimized to work with the Solidar network
- Every computer running the Solidar client is a Solidar node
- Together, all Solidar nodes on the Internet form the Solidar network
- The network is a peer-to-peer-network because every participating node is equal
- The blockchain is shared across all peers in the network
- It contains all information about past transactions and addresses
- An address is a special alphanumerical string used for account identification
- The owner of an account has a secret key to access it
- Several keys can be stored in a single wallet
- A wallet is a file on every computer running the Solidar client
Q: Alright! So the creator of this software plays the role of the Central Bank!
A: Solidar is a distributed network. Since launch, it has been a self-controlled process. The quantity of solidar produced is determined by the entire network. Nobody can produce “additional” money.
Q: Solidar relies on computers and the Internet, which means it can be turned off, doesn’t it?
A: Yes, this is true. Most of the modern society depends on electronics, though. This means, if the Internet was shut down, it would severely disrupt our whole civilization, not only Freicoin.
Q: I’ve heard about something like this before. It already exists, and is called Bitcoin.
A: Imagine Bitcoin being a cake. Solidar adds two small cherries on top of the cake, namely the demurrage fee and the universal basic income.
Q: How can I get to understand the demurrage fee better?
A: Money degrades over time, and it’s common for traditional “paper money”. They slowly wear out. In that sense, you can think about Solidar as cash.
Q: Why does Solidar use demurrage? I’m worried that my coins will just fade away.
A: Worried? It’s a good thing. If the amount of money was stable, people would prefer saving it as opposed to spending it. This would decrease the quantity of money circulated, which in turn would act against the main purpose of money – a medium of exchange. With demurrage in place, you should think about money as it’s meant to be, not as a storage medium of wealth.
Q: How big is this demurrage fee?
A: Estimated 20% annually. Ultimately it depends on the speed of certain operations in the network.
Q: With a zero interest rate, investments will be impossible!
A: It’s already possible, for example, in Islam banking. If the investor wants to profit, he must share and risk his investment. And thanks to the Internet, we have a great tool for investing directly – crowdfunding, where every participant can compare his/her own expectations for a new project and decide whether to fund it or not.
Q: Where did you get the money for this project?
A: Solidar was funded by the Association W.I.N.C. e.V. .
Q: Sustainability, justice… You sound like communists!
A: Socialism claims money prohibition. Solidar aims to fix a broken monetary system. Those are two different things.
Q: Why can’t you just give these coins to miners (as in Bitcoin). Why do we need a bureaucracy?
A: The mining community consists mostly of enthusiasts, not ordinary people who use computers to browse the Internet.
Q: How many coins does the Association have?
A: The Solidar Association distributes 99% of the total Solidar money supply through universal basic income to network members. The remaining 1% is a reward for miners, who support the network with their computing power.
Q: When will all the coins have been distributed?
A: All coins are already distributed and are now in circulation. Drained by demurrage and reissued by c-UBI.
Q: The little icon at the bottom of my wallet says “8 active connections to the Solidar network” and “downloaded 12213 blocks of transaction history…” What’s this all about?
A: You can treat them as internal information about Solidar. As long as the histogram and check marker are both green, everything is fine, the program is synced with the network and ready to be used.
Q: The histogram is mostly red & orange
A: Solidar uses port 55889 for connecting to other nodes in the network. Make sure that your firewall allows connections to this port.
Q: Why is the client constantly downloading something?
A: To stay up to date with the Solidar network. Every copy of the program keeps a history of all operations in the network. It has to be be synced.
Q: I ran it for the first time. Why is it so slow?
A: The initial download of the blockchain takes some time. Please be patient.
Q: What is a “block”, a “hash”, “generation”, “mining”? I’m no scientist or programmer, so please, try to be clear.
A: If you just use Solidar as a normal user would, you can forget about these cumbersome terms. They reflect the internal structure of Solidar and aren’t needed for everyday usage.
Q: Are there any special requirements for the Solidar client?
A: It’s not recommended to install it on an SSD. The Solidar client actively uses the disk, and knowing that SSDs have a limited amount of rewrites, it could speed up the degradation of your SSD.
Q: Can I run the Solidar client on my smartphone/tablet?
A: Ubuntu has been ported to handheld devices and was successfully launched on a Nexus 7. So in theory, yes, you can. In practice it’s strongly recommended not to do so. The Solidar client heavily depends on file storage and could damage your flash card.
Q: I still want to try Solidar on my smartphone.
A: Support for online e-wallets will be available in the near future, we suggest that you wait until then