If you have been using the same Pulsar address for a long time, then perhaps it is best to “start over” and use a new and fresh wallet.dat with a new and fresh address–especially if you have noticed a decrease in your proof of stake (“PoS”) earnings over time. As the number of transactions grow for an address, the wallet.dat file will also grow in size, gradually, and as wallet.dat grows in size, the wallet becomes less and less optimal to receive PoS rewards–regardless of the balance held in the wallet. But before you do that, you will need to complete a few steps to ensure a smooth transition.
REASONS FOR WALLET.DAT GROWTH
A fresh wallet.dat is less than 1MB in size.
Creating numerous addresses within the same wallet.dat will contribute to the growth of the wallet.dat size. Additionally, frequent pool payouts will also contribute to the number of deposit transactions associated with the wallet. While it might “feel good” to receive a lot of smaller pool payouts, the number of such smaller payout transactions will stack up over time and will render the wallet less efficient regarding PoS. (This is because your wallet does a lot of calculations for PoS and a less efficient and burdened wallet will be slower at making PoS calculations!) For example, I personally had a wallet.dat that was about 89M in size that contained over 100 addresses. (I’ve had this same wallet since about March 2022 after Pulsar launched in January 2022.) My logic was that I would dedicated one address to receiving mining payments and exchange buys and the other addresses would be dedicated to earning PoS rewards. I would consolidate inputs and split my bag across numerous addresses under my control or I would consolidate my coin into larger amount using fewer addresses. (This is because coin balance plays a role in receiving PoS rewards, i.e., “The larger the balance in an address, the more likely of earning aPoS reward in that address.”) The error in my logic the whole time was that I using the same wallet.dat for everything, despite the fact that I was using separate addresses for different purposes. I have since corrected my error and am now using two 2 different, separate, and distinct wallet.dat installations on 2 separate machines–one installation is for PoS alone; the other installation is to receive mining payments and exchange buys alone.
BEFORE YOU BEGIN
I recommend that if you have plans to fatten up your bag from exchange buys, you do so now.
PREPPING THE CURRENT WALLET.DAT
- Shutdown the wallet and restart it.
- If you are mining to your current wallet, stop your miners.
- Remember you will need to update your miners with a new address (using a separate wallet.dat) when we are done.
- Wait until your mining pool has completed all payouts to your current mining address.
- Wait for any exchange buys to complete before moving on.
- When you restart the wallet, make sure to keep your wallet locked, that is, make sure your wallet is not able to receive further PoS rewards for the time being. In other words, wait for any PoS transactions to clear out and finish before moving forward. And as I mentioned earlier, wait until your mining pool completes payouts to your address. (Additionally, make sure to perform any address changes on exchanges after we are done here.) Last thing you want is to send an exchange payout to an old address… but even if that happens, you will have a backup of your original wallet.
- It would be a good idea to abandon any orphaned transactions that might have stacked up over time, if you haven’t been keeping up on this. I posted an article about auto-abandoning orphan transactions in the Pulsar Desktop Wallet and have provided the Pulsarcoin powershell script I use to accomplish this. You can either use and modify this script or you can click “Transactions” in the Pulsar Desktop Wallet and right-click on any “?” transactions that appear as [90.000000] and then select “Abandon transaction”.
- Now, you want to consolidate all your coin into one address if you are using multiple addresses. (Decide for yourself which address that happens to be.)
- In the Pulsar Desktop Wallet, click “Send”
- Click “Inputs” and select all of your inputs. Select everything. If you have a large number of inputs, then you might have to select a handful of inputs at a time and send them in batches because the wallet freaks out if you attempt to send hundreds upon hundreds of inputs at the same time.
- Now tick the “Custom Change Address” box and type in the very same address that will hold all of your consolidated coin. We do this to prevent the wallet from generating a new and different address to hold any leftover coin after the transaction fee.
- If you don’t trust your typing, then you can always use the listaddressgroupings command to see a list of all your addresses. You can then copy and paste the output from that command into a txt file, and then just copy and paste your chosen address.
- Once you have all of your coin consolidated in one address, it’s time to back everything up.
BACKUP YOUR CURRENT WALLET.DAT
- In the Pulsar Desktop Wallet for Windows, click “File” then click “Backup Wallet…”
- I recommend saving the backup file name as something descriptive such as “MYPULSARADDRESS-original.dat” … not simply as “wallet.dat”.
- Save your backup to a flash drive or some other secure storage device.
- If something messes up in later steps, you can always restore your original wallet.dat file. If you need to start over and use your backup file, just be sure to restore it back its original location using the original “wallet.dat” name.
CREATING A FRESH WALLET.DAT
- After you have made sure you have a backup of your original wallet.dat on flash drive, shut down the Pulsar Wallet. Close it.
- Using Windows File Explorer, nagivate to %appdata%\Pulsar\wallets
- Rename your original “wallet.dat” to “_wallet.dat” or “wallet.dat.old” or something like that. You don’t have to delete your original wallet.dat file–just rename it. Just remember any and all passwords associated with any and all wallets.
- Restart the Pulsar Wallet, and the app will create a fresh new wallet.dat file.
- The new and fresh wallet.dat file will not contain any coin.
- The new and fresh wallet.dat file will not be encrypted.
- The new and fresh wallet.dat will not have a transaction history.
- Encrypt your new and fresh wallet.dat file. Make sure to remember your chosen password!
- After encryption, the wallet will restart.
- Now in the Pulsar Desktop Wallet, click “Receive”
- Enter any optional information such as the label for your wallet. For example, you might label your new and fresh wallet as “Savings” if you are going to dedicate the new wallet.dat to collect PoS earnings.
- Click on “Request payment” and you will see your new address. Copy and paste your new address into a text file.
- Seriously. Write down this new address or copy and paste this new address into a .txt file.
- Now, make a backup of this new and fresh wallet.dat file. Save the file to the same USB flash drive that holds the backup and name this new wallet as something like “MYPULSARADDRESS-new.dat” As long as you can tell the difference between the original and the new wallet.dat, that’s all that matters.
- Repeat this entire process for a new address associated with mining — especially if you are using one of those “hourly” payout pools. Remember, the more transactions that a wallet.dat has, the less optimal it becomes to receive PoS rewards over time.
So now at this time, you have 2 wallet.dat files (original, new for savings). Maybe you have 3 wallet.dat files (original, new for savings, new for mining). You have the original wallet that contains all of your consolidated coin and you have the new and fresh wallet that will host your new address. You will notice that there will be a size difference between the original wallet and the new and fresh wallet–the original wallet will be larger in size and the newer wallet will be smaller in size. Now it’s time to send coin from your old original wallet to your new fresh wallet. You may choose to send a few Pulsar from the original wallet to the new wallet in order to test. Just be mindful of the change address, else the wallet will generate a new address! You will be able to adjust the coin you move around such that there will be 0 coin leftover after the transaction fee. This process might be faster and easier if you have two machines: machine 1 runs the original Pulsar wallet (and address) and machine 2 runs the new Pulsar wallet (and address). In this manner, you will be able to see the send/receive between your two different wallets quickly.
THE NEW WALLET.DAT
After you have moved all your coin over from the original wallet.dat to the new wallet.dat, it’s time to unlock the new wallet.dat to receive staking rewards. I recommend moving all your coin over in one lump sum from the original wallet to the new wallet and let PoS generate the inputs moving forward in order for the new wallet.dat to have a few transactions as possible at the beginning. Because there is no transaction history associated with the new wallet.dat, it will have a smaller file size than the original. After about 1-2 weeks, the new wallet.dat will stabilize in terms of receiving PoS rewards.
- Keep your PoS wallet install separate from your mining wallet install.
- Update addresses used for miners and for exchange transfers.
- Keep your old original wallet.dat backup file on a secure storage device.
- Keep a backup of your new wallet.dat files as well.
- It is probably best to purchase a cheap MiniPC from Amazon for exclusive use for the Pulsar Wallet.