Migrating from a one-wallet to a safer multi-wallet setup

Some tips on migrating from a one-wallet masternode (from the old manual) to a hot/cold setup.

Posted by crypto101 3 months ago

This document is part of the Masternode Installation Guide for ExclusiveCoin.

Moving your funds out of the wallet

Instead of transferring the funds from your masternode to the (newly installed) local client, you can sometimes simply move the wallet.dat file itself:

Expert use only. Make backups of your wallet.dat files before you attempt this!

  • Close the masternode application/process;
  • Move wallet.dat from the masternode to the client;
  • Restart the masternode without a wallet. It will create a new one. This wallet will never contain any funds, so you don't need to lock it and you won't need backups of it;
  • Start the local client with the new wallet.dat. It should now contain the masternode collateral funds and the payouts.
  • You can the run masternode outputs on the client and configure the masternode.

Changing the masternode private key

If you have used the private key of your collateral account as a masternode key in the past, generate a new key and replace the old one:

  • Shut down the masternode and local client (or single wallet, if you still have that);
  • Change the masternode key in the exclusivecoin.conf of the masternode;
  • Change the masternode key in the 'masternodes.conf' of the client (or use the 'Masternodes' User Interface);
  • Restart the masternode processes and local client application.
  • Re-register the masternode from the local client ('masternodes', 'Start').
  • Use the masternode debug.log to check that it picked up the registration and is running correctly (see above).

Remove the cronjob

Many masternode owners have created a cron job to keep the masternode running (exclusivecoind start-many). You should remove this cronjob since it is a client-side instruction to register the masternode only (and not run it). You should also remove any wallet passwords from the crontab file!