Purk Development Update: June
Simplewallet consolidation and restore from seed
What we’ve been doing
It’s now mid-June 2018, Purk has been live for just over 2 months and we’ve been busy making improvements to various features as well as adding some new! Over the last month we have implemented Simplewallet restore from mnemonic seed phrase and developed a Simplewallet consolidation feature to help with small denomination payments.
This is a long awaited feature for Simplewallet and is particularly useful for miners or users who have received lots of small payments made of up small denominations to their PURK wallet address.
Depending on the number of small inputs that are sent to a wallet address, users can be faced with a “Transaction is too big” warning when trying to send larger payments. Many CryptoNote users solve this by splitting payments in to smaller amounts, but this is a laborious task which can be time consuming and quite frankly; annoying.
We have implemented 2 new commands in Simplewallet that allow users to consolidate all of the small inputs in their wallet.
sum_inputs — Calculate the total in KB of all small inputs in the wallet
consolidate_inputs — Combine small input transactions into 28.8KB blocks and send these blocks back to the user.
Using the 2 new commands, Simplewallet users can now make a total sum of all inputs in their wallet in KB, then consolidate those inputs by combining blocks in into 28.8KB transactions which are then sent back to the users wallet. This process reduces the amount of inputs that are present in a users wallet and in turn allows for larger transactions made up of larger inputs.
For the most of you, this is rarely a feature you will need to use, but for those of you mining on a larger scale and receiving and sending large amounts it will be incredibly useful.
IMPORTANT: Use this feature with care and only when absolutely necessary. Fees do apply and will be considerable when using on larger balances. You will be notified of the transaction fee with the option to proceed or not before consolidating your wallet.
Before implementing this feature, Purk users could only restore their wallet if they had their .purk.keys data file. We have now implemented restoring of your wallet from mnemonic seed phrase so if you do lose your keys you always have a second option for restoring your wallet and accessing your lost PURK.
To restore your wallet from your seed phrase you will need to download Purk from https://github.com/purkproject/purk and compile from source.
Once compiled, you must remove old blockchain data stored on your PC.
Run purkd in new window and wait for the blockchain to sync.
Once synced you will need to open a new CLI window and run SimpleWallet:
simplewallet.exe --restore-wallet NewWalletName.purk --restore-seed "seed phrase here"
Enter a new password for your wallet and when the wallet opens type
refresh to sync. As soon as the wallet has finished syncing your restored balance will now show in your wallet.
Purk has a number of official online resources where you can find out more information about the cryptocurrency, technical details, future plans, news and announcements.
- Website: https://purkproject.com
- Github: https://github.com/purkproject/purk
- Documentation: https://docs.purkproject.com
- Block Explorer: https://explorer.purkproject.com
- Official Mining Pool: https://pool.purkproject.com
- Donate: https://donate.purkproject.com
- Twitter: https://twitter.com/purkproject
- Discord: https://discord.gg/cqmSrfz