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Axiom uses the AxiomHash proof-of-work mining algorithm. AxiomHash is based on RandMemoHash, described in the paper: "STRICT MEMORY HARD HASHING FUNCTIONS (PRELIMINARY V0.3, 01-19-14)" by Sergio Lerner On page 4, Lerner says "When RandMemoHash is used for proof of work, it can prevent the use of GPUs or ASICs for spamming or obtaining a speedup over standard computers. By requiring 1 MB of memory, computing SeqMemoHash on start-of-the-art GPUs becomes slower than using a standard computer." The AXH algorithm was based on the pseudocode definition on page 4 of this paper. Axiom is using an R of 2 and N of 216. This requires roughly 2MB of memory for each pass. The inner hash function is SHABAL-256. SHABAL was a SHA3 competition entrant and is a fast hashing algorithm. It is used in place of SHA256d so that the time to solve a PoW hash and check blocks is not inordinately long. Moving from ECSDA to Schnorr Signatures Schnorr signatures have been integrated by using the work in secp256k1 (modified Schnorr signatures) that is not yet integrated with Bitcoin. The Schnorr patent has expired and this is the first step in moving away from ECDSA and the oddball curve used by Bitcoin and all of its clones. More information about Schnorr signatures and the discussion around moving Bitcoin to them can be found here: This implementation is of course experimental, and we will be making additional code improvements over time for enhanced security and performance. |
Axiomhash is a CPU-only algorithm. A GPU miner is extremely difficult and not likely to yield a great increase over CPU with a significantly higher energy consumption from mining. To give everyone a chance to get involved in mining Axiom, the reward curve has a 3 week high initial reward period that slowly decreases for 3 months. There is then another 3 week period of high rewards before settling into a normal emission schedule with halving every year. This distribution model was devised based on our observations of cycles in the market. The proof-of-work rewards initially start at 500 and drop down to 5 over the course of 3 weeks. Then after 3 months they climb back up to 100 before dropping back down to 5 coins per block and halving every year after that. The proof-of-stake reward schedule mimics the proof-of-work schedule, starting at 200 coins per block, dropping to 5 coins per block, climbing back up to 200 coins per block, and then dropping back to 5 coins per block and halving every year. Block Rewards Schedule Proof of Work (POW) Schedule Blocks 1 - 800 = 500 AXIOM per block Blocks 801 - 1440 = 200 AXIOM per block Blocks 1441 - 5040 = 100 AXIOM per block Blocks 5041 - 9360 = 50 AXIOM per block Blocks 9361 - 13680 = 25 AXIOM per block Blocks 13681 - 18000 = 10 AXIOM per block Blocks 18001 - 156240 = 5 AXIOM per block Blocks 156241 - 160560 = 10 AXIOM per block Blocks 160561 - 164880 = 50 AXIOM per block Blocks 164881 - 169200 = 100 AXIOM per block Blocks 169201 - 173520 = 50 AXIOM per block Blocks 173521 - 177840 = 25 AXIOM per block Blocks 177841 - 182160 = 10 AXIOM per block Blocks 182161 - 707760 = 5 AXIOM per block Blocks 707761 - 1233360 = 2.5 AXIOM per block Blocks 1233361 - 1758960 = 1.25 AXIOM per block Blocks 1758961 - Forever = 1 AXIOM per block Proof of Stake (POS) Schedule Blocks 1 - 800 = 200 AXIOM per block Blocks 801 - 1440 = 200 AXIOM per block Blocks 1441 - 5040 = 100 AXIOM per block Blocks 5041 - 9360 = 75 AXIOM per block Blocks 9361 - 13680 = 60 AXIOM per block Blocks 13681 - 18000 = 50 AXIOM per block Blocks 18001 - 156240 = 5 AXIOM per block Blocks 156241 - 160560 = 80 AXIOM per block Blocks 160561 - 164880 = 200 AXIOM per block Blocks 164881 - 169200 = 110 AXIOM per block Blocks 169201 - 173520 = 60 AXIOM per block Blocks 173521 - 177840 = 40 AXIOM per block Blocks 177841 - 182160 = 20 AXIOM per block Blocks 182161- 707760 = 5 AXIOM per block Blocks 707761- 1233360 = 2.5 AXIOM per block Blocks 1233361 - 1758960 = 1.25 AXIOM per block Blocks 1758961 - Forever = 1 AXIOM per block Blocks 1 - 200,000 FAQ I can't figure out how many total PoW coins will be mined. The total amount of coins will be close to 10 million in the next 4 years. 1 Million will be mined and staked during this first month. The total amount of coins will be 2.57 million after 3 months, heading into the second high dPoS phase. There will be 4.45 million total coins after 1.5 years, then the block reward will drop off sharply. We will have ongoing development and a whitepaper will be published soon, explaining the insecurities in Bitcoin and our solutions to these flaws. |
Everyone reading this forum at this moment likely has a CPU capable of mining and staking this currency, expanding upon that, the vast majority of the world has a CPU capable of mining this currency in their homes, businesses and workplaces. Through the altcoin explosion of 2013 and 2014 we observed the rise of ASIC mining technology and the mining arms races that followed. A couple of coins attempted to solve the arms race issue through the use of memory hard and other alternative algorithms but eventually were GPU accelerated. Even CPU algorithms like the original Quark and various combinations of SPH crypto algorithms like x11, x13, x15 have become accelerated and available for renting large pools of capacity through popular miner rental sites. This has lead to the centralization of mining power amongst the few people who operate large farms, and has lead to market dynamics that are focused on maximizing the cost of rentals, paying mining operational costs from profits, and market catabolism from these associated costs. Mining dominance and centralization also leads to poor coin distribution at launch in many most, as large pools of centralized mining capacity will apply massive amounts of pooled hashpower, outcompete the average user and mine out large amounts of the available money supply. The result of which is instability and the destruction of potential value as coins are sold for small profits in a short span of time on nothing more than hash power, instead of being sold based upon the value of their actual usage scenarios, innovative properties, developer commitment, features, and forthcoming innovation. This is crippling during the start up phase in which actual investors in the coins technology are faced with diminished value after purchase, and mining difficulties. Afterward, the dominant miners begins to sell off a large share of money supply rapidly, seeking only a quick profit on top of farm expenses, and profits from intentionally marked up rental hash before they move on to the next coin release only to repeat the catabolic cycle. Market Catabolism This cycle is catabolic in it’s nature for several reasons, perhaps often overlooked is the expense of operating such mining farms. A significant amount of the market value is sold to fiat to maintain their operations and cover operational expenses. This slowly drains value from the market, and creates an environment for traders that is discouraging and prone to loss, often causing the investors to leave the market for fear of incurring more financial loss as they were overcome by the sell off phase of the dominant miners. Axiom seeks to once again decentralize mining powers, create an investor friendly environment for those seeking to invest in crypto currency and bring new technologies to cryptocurrencies as a greater state of adoption is achieved. The Solution Axiom solves these issues by using a brand new algorithm that does not have large pools of rentable capacity, and is resistant to hardware acceleration. The AxiomHash algorithm is a “Strict” memory hard hashing function based on RandMemoHash. It is mineable through the wallet or using an external cpu miner. The external cpu miner offers no significant advantage in hashpower. There is no GPU acceleration of this algorithm. Although a hybrid cpu/gpu implementation is possible, according to the paper in which RandMemoHash was introduced GPU implementations will offer no significant advantage and may actually be less performant. |