Topic: [ANN][SCRYPT-N-R][MEG] Megcoin | No premine | Forked from bitcoin 0.9 | New PoW - page 7. (Read 12305 times)
May 03, 2014, 08:38:24 PM
How many coins?
May 03, 2014, 08:35:11 PM
This looks nice!
May 03, 2014, 08:07:13 PM
Shut up Meg!
May 03, 2014, 08:04:44 PM
This is left here only for archival purposes. Please go to the new announcement for discussion: https://bitcointalksearch.org/topic/megmegcoin-asic-resistant-no-premine-mandatory-update-05-tx-fee-603892
Specifications:
Reward schedule:
Scrypt-N-R
Megcoin's algorithm uses a new algorithm I've dubbed scrypt-N-R. Typically, `scrypt` means scrypt with N=1024, R=1, P=1. This algorithm changes R for more granular tuning of memory usage. Currently, there is only the wallet miner and cpuminer(minerd) ported to the new algorithm. The memory usage of scrypt-8-4 is only 4Kbytes, compared to normal scrypt where it is 128Kbytes. This means that GPUs and FPGAs will have a large advantage once they are ported to the algorithm. However, ASICs are not practical to make for Megcoin because of the short "primary mining" period of about 1.5 years. If ASICs were produced for the algorithm, it would be near the end of big rewards and when mining is needed more for network stability than for coin generation.
Digishield
This uses the Digishield difficulty algorithm which has been proven stable by Dogecoin. Although multipools shouldn't be a worry with the unique algorithm parameters, digishield has been proven to handle large hashrate changes very well.
Forked from Dogecoin 1.7/Bitcoin 0.9
Because it was forked from Dogecoin 1.7, which is forked from Bitcoin 0.9, Megcoin's wallet includes the many advancements that Bitcoin 0.9 has:
Downloads
The source code is available on github for compiling on Linux and elsewhere
Resources
Block explorers
megchain.earlz.net:8080
cryptexplorer
Mining
This should be very easily (and effeciently) mined by GPUs and even FPGAs due to it's low 4Kbyte memory requirement. I do not have the knowledge to port a GPU miner though, so this is why I've only ported cpuminer.
Pools
Due to some weird filtering by [Suspicious link removed]ee http://megcoin.com for a full list of pools
[Suspicious link removed][/url] PROP, 1% fee[/li]
[/list]
I'm running a semi-private pool (because I don't have the expertise to run a pool reliably) that you can join into if you want. However, right now I recommend setting up p2pools or solomining because like I said, I am not an expert pool runner and I'd hate to lose people's coins
Pools will be listed here as they are made.
Nodes
I've tried to ensure there are plenty of servers for the initial rush of wallet syncs including nodes in the US, Europe, and Japan. However if you have a reliable node, report it to me and I'll add it to this list in case those servers get overloaded or are later scaled down for cost reasons. No addnode arguments should be required right now.
Exchanges
https://www.bittrex.com/Market/?MarketName=BTC-MEG
Bounties
Testnet
Also, if you would like to test services or mining with Megcoin, I have testnet nodes running so syncing should be trivial
Specifications:
- PoW Algo: Scrypt-8-4 (scrypt-n-r)
- Premine: 0%
- Total: infinite (20K final block reward)
- Block time: one minute
- Reward halved: every 200,000 blocks
- Rewards mature: 120 blocks (~2 hours)
- Difficulty adjustment: Every block, digishield
- Wallet forked from Dogecoin 1.7/Bitcoin 0.9
Reward schedule:
- 1–200,000: 500K Megcoin
- 200,001–400,000: 250K Megcoin
- 400,001–600,000: 125K Megcoin
- 600,001–800,000: 62500 Megcoin
- 800,001–1,000,000: 31,250 Megcoin
- 1,000,000+: 20,000 Megcoin
Scrypt-N-R
Megcoin's algorithm uses a new algorithm I've dubbed scrypt-N-R. Typically, `scrypt` means scrypt with N=1024, R=1, P=1. This algorithm changes R for more granular tuning of memory usage. Currently, there is only the wallet miner and cpuminer(minerd) ported to the new algorithm. The memory usage of scrypt-8-4 is only 4Kbytes, compared to normal scrypt where it is 128Kbytes. This means that GPUs and FPGAs will have a large advantage once they are ported to the algorithm. However, ASICs are not practical to make for Megcoin because of the short "primary mining" period of about 1.5 years. If ASICs were produced for the algorithm, it would be near the end of big rewards and when mining is needed more for network stability than for coin generation.
Digishield
This uses the Digishield difficulty algorithm which has been proven stable by Dogecoin. Although multipools shouldn't be a worry with the unique algorithm parameters, digishield has been proven to handle large hashrate changes very well.
Forked from Dogecoin 1.7/Bitcoin 0.9
Because it was forked from Dogecoin 1.7, which is forked from Bitcoin 0.9, Megcoin's wallet includes the many advancements that Bitcoin 0.9 has:
- A faster graphical user interface (supporting Qt5 as well)
- Fixes for transaction malleability
- Services broken up into megcoind, megcoin-cli, and megcoin-qt
- Many more features which can be seen in the bitcoin 0.9 changelog
Downloads
- windows (32bit)
- Mac OSX wallet coming soon
The source code is available on github for compiling on Linux and elsewhere
Resources
- Join the IRC channel #megcoin at freenode. I have a tipping bot and not afraid to use it :)
- website
Block explorers
megchain.earlz.net:8080
cryptexplorer
Mining
- cpuminer for mining with pools (stratum support) 64bit windows build
- The wallet supports mining by using `setgenerate true -1`
This should be very easily (and effeciently) mined by GPUs and even FPGAs due to it's low 4Kbyte memory requirement. I do not have the knowledge to port a GPU miner though, so this is why I've only ported cpuminer.
Pools
Due to some weird filtering by [Suspicious link removed]ee http://megcoin.com for a full list of pools
[Suspicious link removed][/url] PROP, 1% fee[/li]
[/list]
I'm running a semi-private pool (because I don't have the expertise to run a pool reliably) that you can join into if you want. However, right now I recommend setting up p2pools or solomining because like I said, I am not an expert pool runner and I'd hate to lose people's coins
Pools will be listed here as they are made.
Nodes
I've tried to ensure there are plenty of servers for the initial rush of wallet syncs including nodes in the US, Europe, and Japan. However if you have a reliable node, report it to me and I'll add it to this list in case those servers get overloaded or are later scaled down for cost reasons. No addnode arguments should be required right now.
Exchanges
https://www.bittrex.com/Market/?MarketName=BTC-MEG
Bounties
- AMD GPU miner 130M MEG!. Bounty wallet is MSGoyrBfXad1Pv8Jqc3t74a2yBsDoDbE1G
- Nvidia GPU miner 3M MEG
Mining pool 2M MEGclaimed
Testnet
Also, if you would like to test services or mining with Megcoin, I have testnet nodes running so syncing should be trivial
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