Bitcoin Forum>Alternate cryptocurrencies>Announcements (Altcoins)
Pages:
Author

Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay] - page 1316. (Read 2375260 times)

joelao95
legendary
Activity: 1190
Merit: 1009
Coin of the Magi!
Re: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]
August 12, 2014, 02:00:53 AM
#4
Quote from: Vagnavs on August 12, 2014, 01:57:12 AM
M7 is a rather new algorithm. I don't think too many coins have it. But too many coins for me. I.e. 50M
Best of luck to you on your project.
Regards,
Brian

How many coins in total you have in mind ideally? Basically issue is not about the total number of coins, Cryptonite has billions, while BTC is 21M, the same order of magnitude here.
Vagnavs
legendary
Activity: 1121
Merit: 1003
Re: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]
August 12, 2014, 01:57:12 AM
#3
M7 is a rather new algorithm. I don't think too many coins have it. But too many coins for me. I.e. 50M
Best of luck to you on your project.
Regards,
Brian
bigc1984
hero member
Activity: 658
Merit: 534
Re: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]
August 12, 2014, 01:53:47 AM
#2
ok sounds interesting
joelao95
legendary
Activity: 1190
Merit: 1009
Coin of the Magi!
Re: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]
August 12, 2014, 01:53:06 AM
#1
MAGI
Website | Downloads |  Exchanges | Forum | MagiPay | Mining | Features | FAQ

Facebook | Twitter | Reddit | Youtube | Freenode IRC: #magi | Slack | Telegram
Launched on Sep. 15, 2014, 5:00 PM EST

https://github.com/m-pays/m-core.org
(m-core.org source; one wants to contribute submit a pull request)

m-wallet v1.4.6.2 - (05/17/2018)
m-wallet v1.4.5.3 - (01/06/2017)
m-wallet v1.4.5.1 - (12/30/2017)

v1.4.4.1 - (09/15/2017)
v1.4.3 - (08/24/2017)
v1.3.1 - (02/10/2017)
v1.3.0rc1 - (06/22/2016)
v1.2.0.1 Release (Hard Fork) - (12/31/2014)

MagiPay - Standalone Payment Gateway
https://www.m-pays.com/

Roadmap:
https://roadmap.coinmagi.org/

Features:
A network-dependent rewarding system: proof-of-mining
mPoS

Magi blockchain explorer
Pool Info: https://poolinfo.systms.org (by ex33s)
https://poolinfo.systms.org/map (by ex33s)

Summary

Magi (XMG) is a PoW/PoS hybrid coin (mPoW/mPoS). Magi is designed with difficulty dependent mining reward for proof-of-mining (PoW) blocks in order to put network hashrate under a certain limit. Magi at the first time implements a novel proof-of-staking mechanism, to frustrate potential attack through accumulating a large number of coins and offline staking time (read more..). Magi is at the first concentrating on the low cost in maintaining its block system, for example, through cost effective mining devices. To this end, Magi, aiming at fairness, cost effective and energy efficiency, strives for every single effort to make mining be available to everyone, and provides an even playing field for people looking to issue digital coins without expensive equipment.

mPoW, the magi's proof-of-work (PoW) protocol, in addition to required computational works to be done to deter denial of service attacks, is also a network-dependent rewarding model system. The mPoW rewards participants who solve complicated cryptographical questions not only to validate transactions but also to create new blocks and generate coins. The amout of coins generated are constantly monitored by the mPoW protocol and tuned on the basis of an attraction-repulsion model: 1) incremental rewarding to stimulate network activities during passive mining phase, and 2) decremental rewarding to mitigate redundant mining sources during agressive mining phase. mPoW can effectively govern the magi's network and limit it under a certain scale, enabling the general devices to be capable of mining magi. ++ For details - A network-dependent rewarding system: proof-of-mining

mPoS, the magi's proof-of-stake (PoS) protocol, aims to achieve distributed consensus through operations in addition to mPoW. mPoS is designed such that it rejects potential attacks through accumulating a large amount of coins or offline staking time, either of which leads to security concerns. Similar to mPoW's operation, mPoS is constructed in accordance with the concept of the attraction-repulsion model. Magi hybridizes mPoW with mPoS, and integrate both consensus approaches in order to acquire benefits from the two mechanisms and create a more robust payment system. ++ For details - magi's PoS

 [MagiIntro Video] - What is Coin of the Magi?


 [Magireview 2017]



Specifications
Symbol: Σ

Proof of Work (PoW)
Disable huge hash - Specific PoW block reward design to maintain the network hashrate and make mining available to CPU (more..)
M7M (v2) PoW hash function
Block time - 3 minutes
MagiQuantumWave (MQW) difficulty adjustment per block

Proof of Staking II (PoS-II)
Security enhanced - Variable coin age depending on the staking time (more..)
Minimum coin age - 2 hours
Interest rate - network weight dependent with maximum 5%;
Block time - 1.5 minutes
Block hash - SHA256
Maturity: 120
     (Set posii=0 in magi.conf to disable PoS-II)

Total supply: 25 million
RPC - 8232, P2P - 8233


Mining

https://m-core.org/download/#mining-softwares

Source: https://github.com/m-pays/m-cpuminer-v2
GUI (m-cpuminer-qt): Windows 64, 32, Mac OS X, Linux 64, Source, Github release
NeedIfFindIt's GUI Miner: Makejar download (Windows), Coinmagi.org host download
m-minerd (m-cpuminer-v2): Windows 64, 32, Mac OS X, Linux 64, Source, Github release
Spexx's minerd: Download here (Windows), Coinmagi.org host download
Guide to launch the miner
Adjust CPU mining usage: "-e cpu_efficiency" between 0 - 100 (i.e., 0 - 100%)
Code:
m-minerd -o stratum+tcp://pool_url:pool_port -u pool_user.worker -p password -t thread_numbers -e cpu_efficiency


Block Explorer
CryptoID | m-chain.info


News & Guides
Android mining: https://steemit.com/cryptocurrency/@dury10/it-s-time-for-payback-put-your-old-andoid-device-to-work-for-you-start-mining-using-old-android-devices
Mining guide Pi: https://steemit.com/cryptocurrency/@dury10/start-mining-coin-magi-xmg-with-0-unix-experience-on-a-raspberry-pi-or-any-other-sbc
POS Guide: http://telegra.ph/MAGI-PROOF-OF-STAKE-MINTING-MANUAL-01-09
Poolattractor pools: https://poolattractor.com/pools/
Mining calculator: https://magicalc.herokuapp.com/
Mining Orange PI: https://poolattractor.com/image-mining-coin-magi-orange-pi-zero/
Install Magi wallet on Pi: https://beat.10ztalk.com/2017/10/24/how-to-install-coin-magi-wallet-on-your-raspberry-pi/
Light Splasher Graphics: http://www.lightsplasher.com/2015/magi-coin-review/
Crypto Mining Blog: http://cryptomining-blog.com/4491-cpu-mining-the-coin-magi-xmg-what-can-you-expect/
Crypto Mining Blog: http://cryptomining-blog.com/4459-are-you-looking-for-a-cpu-crypto-coin-try-coin-magi-xmg/
Crypto Mining Blog: http://cryptomining-blog.com/4017-coin-magi-xmg-cpu-only-alternative-crypto-currency/
Cryptos.Us: http://cryptos.us/crypto-news/item/58-coin-magi-a-unique-cpu-coin
Magi app: https://play.google.com/store/apps/details?id=com.aaronnebbs.magistats&hl=en

FAQ
1. The staking has "Not enough weight", what should I do?
For the regular PoS, "Not enough weight" means insufficient staking time. For Magi's PoS (mPoS), however, the cause can be correlated with the over-time staking. The latter is a typical issue raised by people from time to time. There is only one way to solve this which can be done via resetting staking from scratch: send XMG to another address in the same or another wallet. You may want to use the "Coin control" feature in order to select the input sources. Do not try to stake with a significant amount of XMG that mitigates the weight as well. Once this is done, remaining the wallet running shall gains some staking weights.

Pages:
Bitcoin Forum>Alternate cryptocurrencies>Announcements (Altcoins)
Jump to: