Cryptocurrencies these days are mostly hybrid that comes with PoW, PoS and Masternodes technology. Such coins are known to secure the network more due to their hybrid state and it gives freedom to its users. Miners can mine, on the other hand users can stake and earn a fair reward using their wallet. In addition to that large share holders can run masternodes to support some extra features to the network like instant send, private send etc. Here we’re going to see one such currency and that is Bulwark – A decentralized digital currency. Before we guide you through Bulwark wallet setup, staking and obfuscation we’ll first see what is Bulwark and what features does it offer.
What is Bulwark Cryptocurrency?
Bulwark is a new hybrid open source decentralized cryptocurrency which was announced on Dec 2017. There was no ICO. However 3.494% that is 489,720 Bulwark coins have been pre-mined during PoW phase for the purpose of marketing, development and exchange listings. It’s a community oriented project that has masternodes. This coin offers features such as privacy, instant send and staking.
Bulwark Cryptocurrency is already listed on coin market cap. It is currently priced at $1.22 USD (17813 Satoshi) with a market cap of $7,153,987 USD. Circulating supply is 5,858,066 BWK, total supply is 6,177,120 BWK and max supply is 27,000,000 BWK. Alright, let’s see its technical specifications first then we’ll jump into wallet setup guide.
Also read: Circulating supply vs Total supply vs Max supply
Bulwark (BWK) technical specifications:
Algorithm: NIST5 (ASIC resistant)
Coin Type: PoW, PoS, Masternodes
PoW Period: Until Block 345,600
PoS Period: After Block 345,601
Block Reward: 50 BWK which decreases every 90 days
Block Time: 90 Seconds
Difficulty Retarget: Dark Gravity Wave
Max Supply: Unlimited BWK, but expected 27,000,000 BWK in 5 Years
Masternodes Collateral: 5000 BWK
Masternode Features: Swift TX (Instant Transaction), Budgeting System and Obfuscation (Private Transaction)
White Paper: https://bulwarkcrypto.com/whitepaper/
See-Saw rewards mechanism begins at PoS phase to balance block rewards between masternodes and stake holders.
Where to Buy & Trade Bulwark?
Even though this currency is new it is already listed on more than 5 exchanges which is a good start. Below are the 2 popular crypto currency exchange where you can buy or trade Bulwark coin. You can find more other exchanges listed on Bulwark official website.
Buy Bulwark from Cryptopia.co.nz
Buy Bulwark from CryptoBridge (Decentralized Exchange)
How to setup Bulwark Wallet – Step by Step
To receive mining income or to hold Bulwark coins you’ll need a wallet first. Bulwark offers both mobile as well as desktop wallet. Mobile wallet is a recent release and it is unofficial. You can find the mobile Bulwark wallet download here. All you need to do is just install the apk file in your mobile and run it. However since it is unofficial we recommend using desktop QT wallet which is available for Windows, Linux, Mac OS and Raspberry Pi2.
1: Go to Bulwark GitHub Page and download the latest wallet version which is 1.2.3.
2: Unzip the wallet file to any directory where you wish to store the wallet.
3: Once done, open bin folder and run bulwark-qt.exe.
4: Upon opening your wallet for the first time you’ll notice that it will ask you to choose the directory location to store wallet core files. So unlike other QT wallets you don’t have to worry about moving your wallet blockchain files.
5: Once you are done with that process your wallet creates all core files and starts synchronizing with the network. You can only see or transact funds when this process is complete which you can track at the bottom right corner of the wallet.
Step 6: On your wallet dashboard you’ll see five tabs such as Overview, send, receive, transactions and masternodes. [Soon you can expect a beginners guide on how to setup Masternodes in Bulwark.]
Step 7: To receive funds to your wallet you’ll need a BWK address. In your wallet go to File >> receiving address and create a new address. Your Bulwark address is ready for which you can receive payments or use it to start mining (Bulwark Mining Guide coming soon).
Step 8: Except Obfuscation and SwiftTX all other features that you see in Bulwark wallet are similar to Bitcoin core wallet. Please refer to that guide for more info on wallet encryption and backup.
What is SwiftTX in Bulwark?
SwiftTX is a feature that you can notice in Send tab of your Bulwark wallet. It is actually a masternode feature that allows you to send instant transaction. If you are in a hurry then you can check this option and send coins. Masternode network will validate and confirms the transaction instantly.
What does Obfuscation feature in Bulwark do?
Obfuscation is a feature which you can find on both Bulwark and PIVX wallet. So what is obfuscation? Obfuscation is a privacy feature similar to private send feature in Dash wallet. It mixes your coins with the help of masternode network and sends back to your wallet which make the coins harder to trace in blockchain. You’ll need this feature only if you wish to hide your transactions such as the coin source and target.
In order to start obfuscation in Bulwark wallet it requires atleast 14.9 BWK to use. Also there will be a small fee to run obfuscation but in overall it’s a better privacy feature.
Bulwark – Qt wallet Not synchronizing – Fixed
If you are new and followed the guide above then you won’t have any sync issues as you are using the latest released wallet version. For anyone who have previously installed Bulwark wallet and if your wallet is stuck on block 92889 or 86399 or basically any block then here is how you fix your Bulwark wallet from syncing.
First backup your previous wallet. Then close your wallet and make sure you have downloaded the Wallet Version 1.2.3 or latest which you can find it here. Now in your wallet folder just replace old bulwark-cli.exe, bulwarkd.exe, bulwark-qt.exe and bulwark-tx.exe with the new version. Once done go to your wallet core folder and delete everything except wallet.dat, bulwark.conf, masternode.conf and backups. Once that is done add the following nodes to your bulwark.conf file and restart the new wallet.
Know how to add nodes to your wallet.
addnode=bwk1.masterhash.us:52543 addnode=bwk2.masterhash.us:52543 addnode=bwk3.masterhash.us:52543 addnode=bwk4.masterhash.us:52543 addnode=bwk5.masterhash.us:52543 addnode=bwk6.masterhash.us:52543 addnode=bwk7.masterhash.us:52543 addnode=bwk8.masterhash.us:52543 addnode=bwk9.masterhash.us:52543 addnode=bwk10.masterhash.us:52543
If you are tired of waiting and want your wallet to sync up a bit faster, then there is another solution. First close your wallet and then download this bootstratp.dat file. Next unzip the bootstrap.dat file into the Bulwark wallet core folder where you’ll find files like peers.dat, wallet.dat, debug.log etc. After it is done now restart your wallet. At the bottom left corner you should see it says importing blocks from disk instead of synchronizing with the network. In just a few minutes your Bulwark wallet should synchronize completely. Hope that helps!
Did you find the information on this page helpful, if so then please do share it. If you have any queries regarding Bulwark wallet then please do comment it out. We’ll help you. Also if you are new here then you can browse through our archives of crypto related guides which we hope you may find useful. What do you think about Bulwark? Are you mining, hodling? Share your opinion.