FAQ

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Basics

Please, give me some terminology

  • Genesis - Name of the blockchain and cryptocurrency
  • Genesis Network - The entirety of all things Genesis. Including the blockchain, payment ecosystems, etc.
  • Genesis Official - The name for official Genesis releases. (e.g. Genesis Official QT Wallet)
  • $GENX - The ticker for the Genesis blockchain

Who is the team behind Genesis?

The Genesis Network was started by 5 members who have a range of experience in cryptocurrency and business. The team has taken their knowledge base to create what they feel is a superior project and idea compared to what is out there today. For more info about the Founders, please refer to the Team Page

When did Genesis Network start?

Idea began in 2017. Coding for Genesis started early 2018. The Genesis blockchain formally started on August 16, 2018

Genesis Blockchain Info

Is $GENX a coin or a token?

$GENX is a coin. $GENX runs on it's own independent blockchain and is an alternative coin to Bitcoin (i.e. altcoin). $GENX is meant to be used in the buying and selling of goods and services.

Tokens are considered assets or utilities that essentially represent "shares" of a company/project. They are built on top of another blockchain (i.e. Ethereum, Tron, Neo, etc.)

What hashing algorithm does $GENX use?

$GENX uses the Equihash 192.7 algorithm due to stability and security. $GENX was the first project to implement Equihash within the Bitcoin 0.16.x codebase

What is the total supply of $GENX

Total supply will be around 4.1 billion coins

How much is $GENX worth?

Please see the exchanges page for more info.

Was there a premine?

No, the Genesis team did not do any form of premine. In fact, all start-up funding for the project has been paid for out of the teams own pocket. The team has done everything they could to ensure the fairest launch possible to start building the communities confidence from day 1. Genesis has had no premine, no ICO, and no form of auction.

Acquiring $GENX

How can I get $GENX?

There are many ways for you to obtain $GENX. Some free, some requiring equipment or money. To get Genesis for free, you can use the Genesis Official Faucet or joining our forums and performing bounties. Alternatively, you can mine or purchase.

Where can I buy $GENX?

You can currently purchase $GENX from the following exchanges

Mining

Can I mine $GENX?

Yes, you can mine $GENX with both NVIDIA and AMD GPUs. While possible to mine Genesis with CPU, we do not suggest it due to the current mining difficulty. Mining tutorials can be found here

Is $GENX ASIC-resistant?

At this stage, the Equihash 192.7 algorithm is resistant to any known ASIC miners.

Wallets

Where should I store my $GENX

The team recommends using the official wallet, or paper wallet to store your $GENX. If you do not intend on using/trading the coins, the safety way is via holding private keys in a paper wallet. If you do need regular access to the coins, using the official QT wallet is the only recommended way. It is not suggested to store coins long term on any cryptocurrency exchanges.

Antivirus says the Genesis wallet is a virus?!?!

This is a common occurrence with QT wallets. As long as the wallet was downloaded from the official GitHub, you should not worry. Do not trust anyone trying to give you a wallet over Discord or any other fashion. All official releases will be maintained in the official GitHub or official website. If you are still skeptical, please browse the GitHub repository and/or build your own wallet.

Do you have a Web Wallet

Per the roadmap, The team is expected to release a web wallet during Phase 1. This has not been completed due to security factors of web wallets. After utilizing multiple scripts and also building a few different variations, the team has decided that the best way to perform a secure released wallet is to utilize Coinbin. Coinbin allows you to hold on to your private keys and sends coins utilizing a raw transaction broadcast. Until this is completed, the official paper wallet is available.

Security

Someone asked for my private keys claiming to work for Genesis

Nobody working for, or with Genesis will ever ask for your private keys, wallet.dat, passwords, or any private information. These situations should be treated as scam attempts, and extreme caution should be exercised. Furthermore, please report this to the team/moderator on said platform where information was asked from you.

Miscellaneous

When PoS/MNs/XYZ Exchange/XYZ Feature?

The team purposefully omits dates on when features, exchanges, etc. will be released. This is due to the team not believing in building hype for nothing, or FUD when a deadline isn't met. This is one of the major issues with most cryptocurrencies and start-ups in general. Rather, the team will update the community as progress moves forward from initial to development to testing to integration phases. Once the team is satisfied with a features stability, it is at that point that it'll be released.

The team works diligently on adding new exchanges as well. Since the cryptocurrency markets are over saturated with busted projects and too many exchanges, decent exchanges want to see age and stability in a project.

In the end patience is a virtue and will pay off in the end

How can I help the Genesis Network?

There are a number of ways that you can help the project(s) besides just purchasing the coin. Mining helps strengthen the blockchain. Joining the Discord or the Official Forums to participate in the community, bounties, or simply by spreading the world about Genesis.

I'm a developer/designer and would like to help Genesis..

The team is always looking for qualified talent to join the team on a permanent/contract/bounty basis. Please reach out to the team via Discord or the Official Forums with a simple resume and what you want to/are willing to do.