Galilel (GALI)

GALILEL (GALI) – COIN INFO & MN GUIDE

COIN SPECIFICATION:

  • Coin Name: Galilel
  • Coin Ticker: GALI
  • Hash Algorithm: Quark
  • Consensus Algorithm: PoS + zPoS Hybrid
  • Block Size: 2 MB
  • Block Time: 60 Seconds (Re-targeting every block)
  • RPC Port: 36002
  • P2P Port: 36001
  • Type: PoW / PoS / zPoS / MN
  • Minimum Staking Age: 2 Hours
  • Maturity: 120 confirmations
  • Send Eligibility: 6 confirmations
  • Rewards (till block 1,500): MN 60%, PoW 40%
  • Rewards (till block 205,000): MN 60%, PoS 40%
  • Rewards (from block 205,001): MN 70%, PoS 30%
  • Last PoW Block: 1,500
  • Masternode Collateral: 15,000
  • Max Coin Supply (January 2020): 19,035,999 GALI
  • Max Coin Supply (January 2030): 45,315,999 GALI
  • Max Coin Supply (January 2040): 71,595,999 GALI
  • Max Coin Supply (January 2050): 97,875,999 GALI
  • Dynamic Coin Supply: All transaction fees & zGALI minting fees are burnt
  • Community Donation Address: https://explorer.galilel.cloud/address/UUr5nDmykhun1HWM7mJAqLVeLzoGtx19dX
  • Multisig Budget Address (3-of-6): https://explorer.galilel.cloud/address/7U3FMDhKv4j5bzauurPoX1TtqE7hPowSJi
  • Dev Budget (from block 250,001): 10% in monthly superblock

ZEROCOIN SPECIFICATION:

  • Zerocoin v1 activation: block 245,000
  • Zerocoin v2 activation: block 245,000
  • zGALI Automint: 10%
  • zGALI Rewards (from block 245,001): 1 zGALI
  • zGALI Rewards (from block 340,001): MN 40%, PoS 60%
  • zGALI Rewards (from block 430,001): MN 40%, PoS 60%
  • zGALI Denominators: 1, 5, 10, 50, 100, 500, 1000, 5000
  • Accumulator Modulus: RSA-2048
  • Maturity: 240 confirmations
  • Send Eligibility: 20 confirmations
  • Fees (mint): 0.01 GALI per minted zGALI denomination
  • Fees (spend): No fee

With Zerocoin v2 activation at block 245,001 the reward structure becomes dependent from the staking type. If public Proof-of-Stake (GALI) and staker finds a block, 70% paid to masternode and 30% to staker. If private Proof-of-Stake (zGALI) and staker finds a block, 40% paid to masternode and 60% to staker.

Proof-of-Work Rewards

Proof-of-Stake will start at block 1501.

StagesBlock HeightRewardMNPoSSupply
Stage 11,501-12,000100 GALI60%40%1,271,399
Stage 212,001-22,00090 GALI60%40%2,171,309
Stage 322,001-42,00080 GALI60%40%3,771,229
Stage 442,001-100,00070 GALI60%40%7,831,159
Stage 5100,001-160,00060 GALI60%40%11,431,099
Stage 6160,001-205,00050 GALI60%40%13,681,049
Stage 7205,001-250,00025 GALI70%30%14,806,024
Stage 8250,001-340,00013.5 GALI70%30%16,156,009
Stage 9340,001-430,00010 GALI70%30%17,055,999
Stage X430,001-ongoing5 GALI70%30%ongoing

Official Links:

Exchanges:

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Merchants:


MASTERNODE SETUP GUIDE Galilel (GALI)


Download Galilel wallet for your operating system

All wallets can be found here: https://galilel.cloud/#wallets

To speed up the synchronisation you can download the bootstrap file and replace your wallet files by the bootstrap ones.

Download latest bootstrap: https://galilel.cloud/#wallets and select ‘Blockchain Snapshot’

Setup your wallet ready for the Masternode (part 1)

  1. Go to the ‘Receive’ tab, enter a label name and click ‘Request payment’. Then select ‘Copy Address’
The address is automatically input

2. Go to the ‘Send’ tab, paste the address and send exactly 15 000 Gali. Wait for 12 confirmations

3. go to the menu ‘Tools’ then ‘Debug Console’ and enter the following commands

  • masternode genkeys

copy the genkey to notepad

  • masternode outputs

copy the outputs and the index (0 or 1) to notepad

The first part of your wallet setup is done. We will know setup the VPS and come back to the wallet after to finish the setup

Setup your VPS (part 1)

Login to your VPS (via putty, bitvise, terminal, etc…). If you do not know how to login, please refer to your VPS provider instructions.

Enter the following command one at a time:

  • wget https://raw.githubusercontent.com/Galilel-Project/galilel-scripts/master/scripts/install_galilel.sh
  • chmod +x install_galilel.sh
  • ./install_galilel.sh

The script will now install the masternode, the process can take 10 to 15 minutes

Once the installation is completed, you need to check different synchronisation status with the following commands:

  • galilel-cli getinfo

the line ‘blocks’ must show the same block as the explorer https://explorer.galilel.cloud

  • galilel-cli mnsync status

the line ‘RequestedMasternodeAssets’ must show 999

Setup your wallet ready for the Masternode (part 2)

  1. Go to ‘Settings’ then ‘Open Masternode Configuration File’. Notepad will open with an example of the input required
Format: alias IP:port masternodeprivkey collateral_output_txid collateral_output_index

2. You need to enter a new line following the example:

  • replace ‘IP:port’ with the IP of your VPS and add :36001 at the end of the IP
  • replace ‘masternodeprivkey’ with the genkey generated earlier
  • replace ‘collateral_output_txid’ with the outputs generated earlier
  • replace ‘collateral_output_index’ with the index generated earlier (0 or 1)

So your line will look like this (with each parameters matching your console outputs):

mn1 127.0.0.2:36001 93HaYBVUCYjEMeeH1Y4sBGLALQZE1Yc1K64xiqgX37tGBDQL8Xg 2bcd3c84c84f87eaa86e4e56834c92927a07f9e18718810b92e0d0324456a67c 0

You can put any label you want instead of mn1, the label will show in the masternode tab

3. Save the file, close and re-open your wallet

4. Go to the ‘Masternode’ tab, highlight your masternode and select ‘Start Alias’. You will get a pop-up saying ‘Masternode started successfully’

Setup your VPS (part 2)

Back in your VPS, you just need to enter one line of code to confirm that your Masternode has started successfully:

  • galilel-cli masternode status

THAT IS IT!! YOU CAN NOW RELAX AND WAIT FOR YOUR REWARDS TO COME IN



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