Topic: [ANN][MAX] MAXcoin - PoW, ASIC Resistance, Keccak GPU Mining - page 364. (Read 914345 times)

MaxCoin (MAX)

An alternative cryptocurrency disrupting the already rather disrupting crypto market its own clusterfuck of a launch.





A Larger Paragraph Or Two Of Information That Takes Longer To Read than it took us to code this crap

One of the most important things for MaxCoin is to achieve a fair laughably fucked up launch. In the current world of 100-alts-per day achieving a fair distribution at launch seems like a rare occasion and still is. MaxCoin will have a zero % premine, proven by the timestamps of the first blocks in a block explorer, and we have attempted to combat low-difficulty instamining with a fast retarget rate up until block 200. At block 200 the Kimoto Gravity Well implementation will take over the retargeting. You can read more about KGW and it's benefits against pool hopping issues (such as coins stuck in high difficulty) here. unless you count most of the users not actually being able to mine at the launch because we didn't provide the guides before the launch like we said we would.

After we filmed the show we decided releasing the coin binaries and source at show's airing in our timezone would be unfairly beneficial to those also in our timezone, and those that live elsewhere or had simply yet not heard about the coin would be disadvantaged. For this reason we want to set a hard deadline for the release of the MaxCoin clients as 7.30PM GMT on Wednesday 5th February 2014 to allow the news of the coin's launch to spread, far too sensible for idiots like us.  Also we hadn't even finished making them anyway, and to provide a fair chance for everybody to prepare and mine wonder what the fuck is going on at official start time. This also afford you enough time to prepare yourself for mining without waiting with idle machines, or if you're not a miner to learn about it in time to to join in mining MaxCoin even though we couldn't be bothered to provide working configuration files until after mining had started.

We're working on having a lot of pretending that there will be services ready for launch. Some are ready and some are longer term goals. These include a branded block explorer, mining pools, exchanges, faucets, wallet apps for phone, web wallets, bitcoinwisdom style charting, a fiat/max exchange and a max-payment processing system (which will be added as a payment method for StartJOIN's crowdfunding as soon as it is functional).

We are also working on some less-basic altcoin things and features we'd love to see implemented in Bitcoin - a testing ground. Information for these will come out as progress occurs as this is very much a research driven aspect of the coin's implementation. For service-related talk addressable in the lead up to code release section below q/a.


Common Questions and Their Respective Answers

Q: Can I mine MaxCoin? How?
A: We'll provide config files for the completely unfinished wallet client upon after release to allow anybody to CPU mine from day one and GPU as well but we won't mention that. There will be mining pools available from launch, too but none of them will work.

Q: I am on Windows... can I mine?
A: Yep, there will be a client for all major OS. Only two hours after everyone else has started.  And you won't get anything unless you're using a GPU.

Q: What about Mac though?
A: Yep! A client for Mac too! All major OS!

Q: Linux?
A: ... Yes. Linux also.

Q: So is it CPU only? Will I be able to use my Butterfly Labs ASIC when it arrives (... any day now...)?
A: Using Keccak as a hashing function renders current Bitcoin ASICs and the upcoming Scrypt ASICs useless on the coin. GPU parallelization of Keccak is possible but currently does not exist for mining with our implementation of SHA-3 but we're pretending it doesn't.


Tl;dr - SHA-3 coin. Launches 7.30PM GMT on Wednesday 5th February 2014 Somewhere around 9 PM the following day if you're a Windows user, but earlier for Mac and Linux.  We were relieved that the forums were overloaded with 502 errors on the first launch day, because we weren't actually ready for launch.  We weren't realy on the second attempt either, but fuck it, close enough, right? . More info to be seeded out 2 hours late via @MaxCoinProject. Not Would have been better as a fork of dogecoin.