Topic: [ANN][XMY] Myriad | Multi-Algo, Fair, Secure - page 299. (Read 849919 times)

I just donated 25,000 Myriad to the donation address on the OP. I hope it will go to the following causes:


I would also like to volunteer as a Mod for the Myriadcoin subreddit. The first thing I will do is change the theme to something more updated. I worked on the themes for /r/officialcredits and /r/lazycoins. I will implement the same theme with custom colors on /r/myriadcoin if I can be modded there.

On that note, we might want to get a new logo that has 3 main colors in some nice scheme. 5 colors might actually work too to symbolize the 5 algos. But if we get the number of colors worked down it'll be easier to make themes for websites, community pages, paper wallets, etc. This isn't a huge important technological programming hurdle, but I think it's important going forward for a professional appearance of the coin.

It's actually the opposite. If one algo fails (i.e. it forks), the other 4 algos will carry on the blockchain like normal until the forked algo situates itself on the right blockchain. If you are talking about failure from a pure hashing vulnerability, well then that algo will just promptly be switched out and miners of that coin will need to either pause mining or hop on one of the other 4 algos that will continue to run the blockchain.

This has some interesting implications, both good and bad. It puts everybody on an equal footing, regardless of whether they’re mining with an ASIC, GPU, or CPU. That’s the good part. The bad part is that if a flaw is found in just one of these algorithms, the whole system will crumble.

get the 280 on groestl, mine runs with 60 degrees at 11mh/s at poolerino

I just donated 25,000 Myriad to the donation address on the OP. I hope it will go to the following causes:


I would also like to volunteer as a Mod for the Myriadcoin subreddit. The first thing I will do is change the theme to something more updated. I worked on the themes for /r/officialcredits and /r/lazycoins. I will implement the same theme with custom colors on /r/myriadcoin if I can be modded there.

On that note, we might want to get a new logo that has 3 main colors in some nice scheme. 5 colors might actually work too to symbolize the 5 algos. But if we get the number of colors worked down it'll be easier to make themes for websites, community pages, paper wallets, etc. This isn't a huge important technological programming hurdle, but I think it's important going forward for a professional appearance of the coin.

I bought a load just before the crash, but just before I go out and mop up some ofthe dumps, would you like to address one point that I've heard ?

The coin's got all these algos that make it more accessible - great. But doesn't it also expose it to more points of failure ?

In other words if you've got 6 algos, you've got 6 times more chance of breaking than if you've got only 1. As I understand it they are not redundant (like aircraft engines - if one fails the others keep going).

With multiple algos in 1 coin, if 1 fails the whole coin's sunk isn't it ?

(P.S. I'm not trolling. I want to get this out of the way while the coin's on the deck because if it rises the trolls will all appear and that's one thing they'll use).

I bought a load just before the crash, but just before I go out and mop up some ofthe dumps, would you like to address one point that I've heard ?

The coin's got all these algos that make it more accessible - great. But doesn't it also expose it to more points of failure ?

In other words if you've got 6 algos, you've got 6 times more chance of breaking than if you've got only 1. As I understand it they are not redundant (like aircraft engines - if one fails the others keep going).

With multiple algos in 1 coin, if 1 fails the whole coin's sunk isn't it ?

(P.S. I'm not trolling. I want to get this out of the way while the coin's on the deck because if it rises the trolls will all appear and that's one thing they'll use).

When a coin has that type of power, amazing things will unfold

-implementing an RPC command that returns network hashrate per algorythm
-algorythm switching mining software for a algo-profit-switching pool
-algo-profit-switching pool
-andoid wallet
-implementation of a 100% proven CPU algorythm (right now qubit and groestl are CPU friendly but not CPU dedicated so while CPU miners can still mine competing with GPUS on fair grounds they still do not have an exclusive algorythm)
-adding a metalayer to Myriad (similar to xcp)
and the list is evergrowing.

Sounds like a good track to me. This project is promising and at the current point of my research maybe the best solution to the problems that arised from the Bitcoin experience. I will dig deeper and will keep me updated. Thanks a lot!

so im happily mining 3 of the algos

got my
280x on scrypt
nividia gforce 580 on grostl
57 gh on sha256



eventually ill have to switch the scrypt algo to another for the 280

that's exactly what's bothering us. For now botnet attacks are out main concern that's why we're still not sure if adding one is the best solution. Even x11 is a big question since it's just groestl + a few quark rounds and it fairs almost identical to simple groestl in terms of cpu/gpu profitability ratio so yeah ... we're still pondering things. when the developing is complete we will make sure the community wants a change before we implement it.

Thank you. I see your points in your post regarding stability and flexibility and I totally agree. My concerns where more related to decentralization. So if I understand you right, the devs will change one or more of these algorithms in future if the distribution over CPUs, GPUs and ASICs is not fair anymore?

Furthermore, CPU only mining also has well known drawbacks (botnets etc.) and nobody can tell how CPU technology will evolve in the next 10 years (more cores or higher clock) and if processing units will appear that are in between of CPUs and GPUs (like stream processors). So how exactly is it possible to design a "100% proven CPU algorithm" that is safe for the future? And how will Myriad react if all these technologies will move closer together so you can not really distinguish between a GPU and a CPU anymore?

flexibility, don't know if you read my post above, algos can be swapped for other algos with no major impact to the network because the other 4 keep it secure. currently XPM is being tested as a fesable alternative for cpu miners and the development about 80-90% done sorry 8bit for giving away staff discussions.

Any idea of the likelihood of that?  Would the exchange operators be able to operate offshore through different servers?  And buyers and sellers as well?  I know it might be a PIA, but I don't think governments will be able to stop crypto, at least not in the long term.  Although the US is making it a PIA through tax consequences.  At least they think. Any good accountant or tax lawyer (like me) can turn mining into a loss pretty quick.  Personally, I'm just not going to use US exchanges if they are required to start reporting to the IRS.  I'm personally not going through the hassle of setting up a business just for tax purposes.  Although the losses my help my overall tax situation.  I'll have to think about that one.  The self-employment taxes might not make it worthwhile.  What would make sense is a large group of individuals getting together and forming a mining corporation.  Profits would be based on user input, deductions would be great, and no self-employment taxes.  The only taxes would be capital gains, either short term (less than one year), or long term (more than one year).  Either rate has far less tax consequences than normal income (e.g. employment).  The deductions from equipment and electricity costs could be used to create quite a loss for the first year (on paper), then that loss could be carried forward to offset earnings from the next year.  The IRS basically just created a lot of work for accountants and lawyers, while gaining no income, except from people who are unfamiliar with proper tax avoidance business formation.  Which is probably most miners, unfortunately.

Hi,

I am new to Myriad, just read about it on reddit. Decentralization is a major concern to me and that's why I look deeper in all the solutions that appeared recently.

Regarding this point, I would like to understand how Myriad will maintain the distribution of hash power over CPUs, GPUs and ASICs in future. In particular I read this paper: http://www.iis.ee.ethz.ch/~sha3/ethz_gmu_sha3.pdf which describes ASIC implementations for Skein and Groestl. For sCrypt we also already know that ASICs will be state-of-the-art in very near future.

So my question is: How will Myriad deal with that? If there will be a time where all five hashing algorithms are basically ASIC-only, what benefits remain having these different approaches?