i am writing a draft i need your input please, i need some answers on that questions:
Thanks for the efforts.
- is Magi safe? is it safer than Bitcoin or other alt currencies? if yes, why?
It is hard to make the comparison. Regarding the PoM, frankly I don't know, but I'd tell PoS-II is more secure than any else. I don't want to appear to be too aggressive, but it's the design I have made up to to resolve prior issues. Please read the PoS-II section in this post:
https://bitcointalksearch.org/topic/m.9991269 (what are the issues and what we have tried to solve). But it's rather the argument based on what I have thought, and its validity can only be seen over time. The argument is valid as long as we don't see or think about any holes in this system.
Looking at the coin overall, we have to consider the PoM as well. The block time for PoS and PoM are 1.5 min and 3 min respectively, that means PoS dominates mostly. So I'd say, since PoS is secure, XMG is a secure coin as well. Seriously, however, we have to evaluate how secure the PoM is, and that is somehow beyond my thinking at this time, particularly I am lack of time to look into it any further. Now I do have a plan to look into the PoM and its algo (to-do list). Taking it as a serious coin, we have to be serious.
- Magi is fast (that's a fact, i have use it!), why it's so fast? how many times faster than Bitcoin? it will stay faster or it's faster because it haves smaller block-chain?
The hybrid PoW/PoS-II yields block time of 1 min in average, so it is faster than Bitcoin.
- What else is making Magi different?
Be in nature.
One may wonder why subjects existing in universe won't break apart? Because of the gravity:
https://www.youtube.com/watch?v=OiTiKOy59o4https://www.youtube.com/watch?v=KQ13orvIb80One may also wonder why subjects don't get crushed? Because of the repulsive forces:
https://www.youtube.com/watch?v=wBziGRxsYv0The nature is amazing.
Huge amount of energies consumed in the cryptocurrency has been a big issue, which is totally opposite to the global efforts in saving energy. This issue should be resolved sooner or later in order to advance the cryptocurrency any further. As one of the possible solutions, that's the reason we have PoS. However, the pure PoS mode would never give rise to decentralization. Any approaches are vain if decentralization cannot be maintained, unless one agrees with a coin with limited time of mining or with total premining, or the such likes. The PoW should be remained in order to distribute coins into a broad audience over time.
The basic rule of dealing with the energy concern is to involve a "braking" mechanism in coin design. Such a rule exists in every piece of things in nature: why earth/electrons should circle the sun/nucleus without collapsing or departure? or just imagine a vehicle without brakes. Bitcoin or litecoin does not put actual limits in the rewards, or that simply not functioning properly. That's where magi plugs in.
Does anyone catch the idea in the following figure, alike the magi block reward versus difficulty, right?
Source:
http://www.cambridgemedchemconsulting.com/DDResources/mol_interactions/molecular_interactions.htmlThe above idea is incorporated in the design of the magi, both PoW and PoS-II, and that in my view should be the crucial factor towards developing a healthy system including cryptocurrency.
