Ryo Currency
FAQ

Why should I invest in Ryo?

  1. Ryo is backed by a full featured and balanced development team and is based on Monero which is being very actively developed.
  2. Ryo was created with a long-term vision in mind. The coin emission path is quite similar to Bitcoin with the majority of coins to be distributed within 20 years.
  3. Ryo has a very high privacy setting that is suitable for all high confidential transactions as well as for storage of value without being traced, monitored or identified. We call this true fungibility. This means that each coin is equal and interchangable; it is highly unlikely that any coin can ever by blacklisted due to previous transactions. In the long run, we believe these characteristics will pay off as crypto attacks become more sophisticated with much greater computation power in the future.

What is a "camel distribution" and how is it different than XMR or BTC?

Ryo's block reward changes every 6-months following a "Camel" distribution model. Our emission scheme is inspired by real-world mining production comparable to crude oil, coal and gas which is often slow at first, accelerated in the next few years before declining and becoming depleted. However, the emission path of Ryo is generally not that far apart from Bitcoin.

How about development path/team for Ryo?

Ryo wants to be a cryptocurrency that can be used easily by average users, not only developers, so we focus on:

  1. Developing GUI wallets for both desktop (Win/Mac/Linux) and mobile along with online wallet for beginners.
  2. Working with payment gateways to make RYO a viable cryptocurrency accepted widely among merchants.
  3. Keeping improvement in coin security, untraceability, privacy and speed.

Core developers: @Fireice_uk, @psychocrypt, @mosu_forge

Contributing Team: @RyoRU, @Nostradamus411

Do you have any relationship with The Monero Project?

No. While we have full respect for all core developers of The Monero Project who are competent, open and smart, however, we've never had the opportunity to contribute anything to Monero yet (we hope we will).

What's your history with Sumokoin?

You can read one-page list of sumokoin scam, that lead to partition.
In short: we parted ways after one of the devs failed to disclose with the public a 400 000 coins premine unlocking years earlier [1]. Then two other team members resigned for a week [2], one of which came back declaring "the ""i am getting out"" was a mislead to earn time" [3]. Meanwhile Sumokoin decided to fork back to an ASIC-friendly algorithm.

I have Sumokoin, how can I claim my Ryo?

  1. You can claim your Ryo, if you had Sumokoin before they forked at block #137500. Ryo Currency as a chain fork kept all the transactions -and thus coins you had in your wallet- up and until Sumokoin forked at block #137500. To further secure your Ryo, tied the coins to a block after the fork.
  2. First, install the latest Ryo wallet. Run it and generate a new wallet. Write down the seeds. Copy the MAIN ADDRESS under the RECEIVE tab. Then from the Ryo gui, click SETTINGS ยป NEW WALLET and restore your Ryo from the same seeds used for your old Sumokoin wallet in the Ryo GUI.
  3. Send all your coins to the new Ryo MAIN ADDRESS you copied before.
  4. After this, you can safely transact Sumokoin, it's important to first move your Ryo, before you move your Sumokoin.
  5. If you are comfortable using the CLI, you can just SWEEP ALL Ryo to yourself instead of all the above.

How do I mine Ryo Currency?

Son of a Tech will hold your hand in setting up your miner and wallet: How & Why to Mine Ryo Currency.

I noticed occasional 25000 Ryo+ reward block in explorer, what is it?

It is a weekly block with reward, that goes to development fund + regular miner reward. Read more about dev. fund here.

I have a suggestion / bug report / business proposal - how can i contact developers?

Feel free to write an email contact@ryo-currency.com, or use any link here.

Where can I spend my Ryo?

Here are places you can pay with Ryo for now. The list will be updated as more companies and people start accepting Ryo:

How to update Ryo wallet, will I lose my keys?

Ryo wallet files are organised in 3 groups:

  • Ryo Wallet Atom binaries
  • Your wallet files (keys)
  • Ryo Wallet Atom settings
By default their Windows or MacOSX storage are:
  • C:\Program Files\Ryo\RyoWallet or
  • C:\ProgramData\ryo\wallets or
  • C:\ProgramData\ryo\gui or
To update your wallet, first pick needed platform and download most recent version from here. While updating, installer will update only Atom binaries, and will keep your keys and settings. So you won't have to restore wallet keys from seed phrase or keys.

I had 100 coins, but when I spent 1 coin, wallet shows - that rest balance is locked?

The matter is how much inputs with what amount you had e.g:

  • If you had 1 input in your wallet with 100 coins, you will have 99 (subtracting tx fee) coins locked and returned as change, that will need to wait 10 confirmations to be unlocked.
  • If you had 10 inputs in wallet 10 coins each (same balance - 100 coins in total), after spending 1 coin, you will have 9 coins locked (subtracting tx fee) for 10 confirms and 90 coins of unlocked balance.

What address types, seed length and prefixes does Ryo support?

Before v0.2 binaries version, Ryo had pre fork address format that had these prefixes:

  • Sumo (standart address) 26 word seed
  • Sumip (integrated address)
After v0.2 Ryo released update, when old format addresses started to auto convert to new address format, while keeping old format for deposits. And introduced another option - short (kurz) addresses. Users who created wallets with 26 word seeds, after 0.2 have 25 word seed (last word is not needed anymore, because Ryo integrated proper seed validation). Users who created wallets since 0.2 have 14 words seed.
Since 0.2 address types are:
  • RyoL (standard, long address) 25 (wallet created before 0.2) or 14 (wallet created after 0.2) words seed
  • RyoK (short (kurz) address)
  • RyoS (subaddress)
  • RyoN (integrated address)

What is integrated address?

Integrated address (Sumip or RyoN) is a type of address format that has in-built payment ID into it. It is same as standard long address (RyoL) + separate payment ID. Unique payment ID is needed, for example, for exchanges to distinct and tie deposits to user accounts.

I have an incoming transaction, but it didn't appear in Ryo Wallet.

  • Check wallet address where payment is sent to and your wallet address.
  • Check your transaction id in explorer The number of confirmations should be 1+.
  • Make sure you use the latest version of wallet.
  • Make sure you are fully synchronised with network.
If addresses match, you found your tx in explorer and it has 1+ confirmations and you use the latess fully synced wallet, and still don't see your balance - contact us here.