What's currently the most profitable Myriad algorithm to mine? I'm doing Groestl right now, but returns are pretty anemic.
check my sig, click on the block explorer, get required info, profit.
Topic: Myriadcoin and 51% attack/selfish mining (Read 2149 times)
check my sig, click on the block explorer, get required info, profit.
What's currently the most profitable Myriad algorithm to mine? I'm doing Groestl right now, but returns are pretty anemic.
Now that Myriadcoin shows signs of growth, any more opinions on the matter?
100x gains possible
-new technology
-secure
-no clones (yet)
Now that Myriadcoin shows signs of growth, any more opinions on the matter?
However, it has 5x or greater risk of an algo being compromised mathematically (groestl, qubit and skein are still somewhat experimental, right?)...
Although I suppose the coin could be hardforked if such an event occurred?
Although I suppose the coin could be hardforked if such an event occurred?
I am not a dev, but I suppose yeah, if any algo is compromised, it can be removed completely or replaced with a different algo. I read in their Announcement thread that they plan to add another independent CPU-only algo to the mix. Thus a hard fork is possible, and new algos can be added/old ones removed like plugins. On the other hand, if sha256 or scrypt is ever compromised, then sha256-only or scrypt-only coins are under danger, because they don't have other algos to fall back on to keep the network running.
But let's wait for devs to clarify, we're only guessing.
to 51% myriad afaik. you would need 51% of each algorithm (technically only 20% or so is required for a chance of success. 51% is pretty much guaranteed (thats how wdc got attacked))
and selfish mining from what i know would just cause the selfish miner to fork due to the requirements to have the other algo's
and selfish mining from what i know would just cause the selfish miner to fork due to the requirements to have the other algo's
Ok, so I take it as yes, myriadcoin is technically more secure and less easy to attack compared to bitcoin.
However, it has 5x or greater risk of an algo being compromised mathematically (groestl, qubit and skein are still somewhat experimental, right?)...
Although I suppose the coin could be hardforked if such an event occurred?
to 51% myriad afaik. you would need 51% of each algorithm (technically only 20% or so is required for a chance of success. 51% is pretty much guaranteed (thats how wdc got attacked))
and selfish mining from what i know would just cause the selfish miner to fork due to the requirements to have the other algo's
and selfish mining from what i know would just cause the selfish miner to fork due to the requirements to have the other algo's
Ok, so I take it as yes, myriadcoin is technically more secure and less easy to attack compared to bitcoin.
to 51% myriad afaik. you would need 51% of each algorithm (technically only 20% or so is required for a chance of success. 51% is pretty much guaranteed (thats how wdc got attacked))
and selfish mining from what i know would just cause the selfish miner to fork due to the requirements to have the other algo's
and selfish mining from what i know would just cause the selfish miner to fork due to the requirements to have the other algo's
Can someone confirm?
well to have a 51% attacks in a coin with 5 independent algos would mean to have the power to 51% 3 different algos but for each and I don't know if even that's enough if your hashpower on 3 algos is let's say 3th the combined hashpower on the other two plus the other 49% on the 3 different algos would still be quite bigger than yours. It's practically impossible.
what, no expert miners?
I have a question for tech-savvy folks around here.
Is Myriadcoin more tolerant to 51% attack and especially selfish mining issue due to its 5 independent algos/difficulties. Mostly selfish mining. 51% not so much I believe, but still. Anyone willing to give a good technical explanation? I am not that familiar with all mining details and may be wrong here, but I think selfish mining would be more difficult to perform with Myriadcoin compared to Bitcoin, and that would be a big improvement over Bitcoin. I may be totally wrong though. Anyone?
Is Myriadcoin more tolerant to 51% attack and especially selfish mining issue due to its 5 independent algos/difficulties. Mostly selfish mining. 51% not so much I believe, but still. Anyone willing to give a good technical explanation? I am not that familiar with all mining details and may be wrong here, but I think selfish mining would be more difficult to perform with Myriadcoin compared to Bitcoin, and that would be a big improvement over Bitcoin. I may be totally wrong though. Anyone?
Jump to: