HELP / FAQ
What is Croat?
Croat is a digital cryptocurrency that operates on a community-based standard of value using peer-to-peer (P2P) networking as the means of conducting transactions. Rather than having a central authority determine the value of the currency, its worth is determined by the number of products and services people are willing to buy or sell using Croat. Croats have a global value, so they can be used in any country, at any time. Croat is also open-source; its architecture is public, nobody owns or controls Croat and anybody can take part.
What is Croat's acronym?
Croat doesn’t abbreviate. It should be mentioned always as CROAT, in exchanges and other places where altcoins acronyms are used.
How is Croat different from Bitcoin?
Croat is not based on Bitcoin. It is based on the CryptoNote protocol. Bitcoin is a completely transparent system, where people can see exactly how much money is being sent from one user to another. Croat hides this information to protect user privacy in all transactions. It also has a dynamic block size and dynamic fees, an ASIC-resistant proof of work, and a tail coin emission, among several other changes.
This means that it’s private, secure, and accessible to everyone, without the need for specialized equipment. Any regular person with a normal computer can get on board and mine.
What is a blockchain?
A blockchain is a system that stores a copy of all transaction history on the Croat network. Periodically, a new block with the latest transaction information is added to the blockchain. This chain allows the network to verify and validate the amount of money accounts have and make it resilient to attacks and centralization attempts.
What is mining?
Mining is the process by which the transaction information distributed within the Croat network is validated and stored on the blockchain. Miners are rewarded for all of the transactions they process. There are fees attached to all of the transactions that they successfully validate and include in a block.
Mining is a process that takes time and gets more and more difficult as time passes and new blocks are added to the blockchain, as well as with more and more users in the Croat network. It’s kind of a competition. On one hand, at the beginning, with not a lot of users, it may be very easy to mine large quantities very quickly. These quantities will decrease in time. On the other hand, the more miners there are, the bigger and stronger the Croat system is, which leads to a higher value of the coin.
How does Croat get and maintain a monetary value?
Croat gets and maintains a monetary value when people are willing to buy it and merchants are willing to exchange products or services for it. If no one is willing to buy Croat, then it will not have any value. Croat’s price increases if demand exceeds supply, and it decreases if supply exceeds demand.
What is fungibility, and why is it important?
Fungibility is a simple property of money such that there are no differences between two amounts of the same value. If two people exchanged a 10 and two 5’s, then no one would lose out. However, let’s suppose that everyone knows the 10 was previously used in an illegal action and it has been marked. Is the other person still going to make the trade? Probably not, even if the person with the 10 is not the one who wrote the ransomware. This is a problem, because the receiver of money needs to constantly check the money they are receiving to not end up with tainted coins. Croat is fungible, which means people do not need to go through this effort.
IMPORTANT: How can I make sure I never lose access to my wallet?
Computers can break, phones get lost, something bad can always happen. Because of this, it’s very important to make sure not to lose access to your wallet.
ALWAYS EXPORT THE WALLET’S KEYS AND KEEP THEM IN A SAFE PLACE RIGHT AFTER CREATING IT! THIS WILL ALLOW YOU TO RECOVER YOUR WALLET IF YOU LOSE IT. There is no way to recover a lost wallet without the keys.
How can I get Croats?
You can buy Croats from an exchange or from an individual. Alternatively, you can try mining Croat to get coins from the block reward.
What is CROATCore?
CroatCore is a Croat altcoin wallet/miner. It keeps track of all of the Croats that you have sent and received and allows you to spend Croats with ease. Using CroatCore you can also mine Croats.
How do I get a wallet?
First of all, you need to download the appropriate CroatGUI program for your system. You can find it in our downloads section. Then, follow the instructions in the tutorial included in the app. It’s as easy as choosing a name for your wallet and pressing a “create wallet” button!
Where is my wallet saved? How to make a backup copy?
Once you create a wallet via CROATCore, it will get saved in the same folder where you previously saved the CROATCore app. Every time you generate a new wallet, 2 files will be created, with the name you choose: one with the .address extension, and one ending in .wallet. You can move these files to a different location and you can also create safe offline backup copies (cold wallet).
There is also an option to capture a wallet’s public and private keys (which look like a long string of characters), which you can save in whichever form you prefer, even paper. With the help of these two keys you will be able to restore a wallet even if you lose access to the two .address and .wallet files.
It is recommended to make backup copies and keep them in a safe place. You should take care of your wallets the same way you’d take care of your cash.
I want to mine. How do I start?
First of all, you need to download the appropriate CroatGUI program for your system. You can find it in our downloads section. Then, follow the instructions in the tutorial included in the app.
Why is my wallet taking so long to sync?
If you are running a full node locally, you need to copy the entire blockchain to your computer. This can take a long time, especially on an old hard drive or slow internet connection. If you are using a remote node, your computer still needs to request a copy of all the outputs, which can take several hours. Be patient, and if you would like to sacrifice some privacy for faster sync times, consider using a lightweight mobile wallet instead (to be released soon).
My antivirus detects CroatCore as a virus / malware / ransomware. What can I do?
This is a common problem for many mining programs, including those of very known and successful coins, especially with not very good antivirus programs. We did our best to test CroatCore on every antivirus platform we could and, except for a couple of not very known programs, none of the tested antivirus gave any alert.
While we understand that this can create discomfort and lack of confidence, we cannot assure that no antivirus will give such a false positive alert. We strongly recommend you to check for yourself the downloaded installer on an online-based scanning tool from a well-known and trusted antivirus, such as Kaspersky or others, to see for yourself that this is not an issue. CroatCore is completely free of malware.
I have a business and I would like to accept payments in Croat. What do I need to do?
Soon, we will post on the website dedicated tools for merchants, to facilitate transactions in Croat. Until then, you should send us a message through the contact form, with the subject: MERCHANT.
What's the name of the mobile app and where can I find it?
The mobile app is called CROATCore. You can find it in the Google Play Store for Android devices. Soon, an iOS version of the app will be published.
Can I mine with the app?
The app is only used to manage your Croats, to make and receveive payments. A mobile phone’s hashing power makes it not worth it to mine from an app.
I cannot import my wallet in the mobile app. Why?
This is because they are separate wallet types.
You cannot import a mobile wallet into a desktop app nor a desktop wallet into a mobile phone.
When using this app for the first time you should create a new wallet (or import an existing one from a previous mobile phone for example).
What if I need to change my phone or my phone gets lost?
If you want to transfer a wallet from one phone to another, you need to export its private key, save it, and use it to import the already existing wallet into a new phone.
IMPORTANT: REMEMBER TO EXPORT YOUR KEYS AND KEEP THEM IN A SAFE PLACE AS SOON AS YOU CREATE A WALLET! THIS WILL ALLOW YOU TO RECOVER IT IN CASE YOU LOSE IT. There is no way to recover a lost wallet without the keys.