Can someone clear this up for me?
I see there will be no mining, but Transaction verfication? also being able to "mine/get" Emu on mobile.
So does this mean its neither Scrypt or Sha256? What type of hardware would best if using this coin.
Features and everything look neat. I dunno about the personal profile though, could you just snag my facebook so everyone can know who I am. Or prog a facebook app to incorporate Emu into FB. I most likely wouldnt use the profile feature.
Awesome work, will keep an eye on progress
There have been a number of really exciting technical developments with eMunie recently, and Fuserleer has been working hard to get them incorporated into the client for beta testing ASAP.
But you are correct, emunie is neither Scrypt or Sha256 based, and there is no need for mining as the P2P network is able to verify transactions without the need for massive overheads in computational power & hardware.
New EMU supply (determined using internal supply & demand signals inside the system) is generated and distributed via interest payments to existing EMU holders, and transaction fees for verification work for those users who run their client in that mode. The verification work keeps the network secure, and performs the necessary calculations to ensure there is no double spending.
So with this system architecture, you can run the eMunie client on regular hardware, even a phone eventually. When running as a hatcher/verifier that performs verification work, there would be advantages to having more computing resources (CPU, SSD, RAM), but there wont be any scope for ASICs and GPUs - just regular PC hardware.
Please understand I am not an expert in the technical side of eMunie, and my crude explanation above is based on my own understanding of how the system works.
Fuserleer will be putting out a lot of detailed information very soon, so stay tuned for that
As far as the profile stuff goes, I think it will be hugely popular for users of the P2P exchange - people running the client will be able to use the in-client exchange with the EMU currency, as well as any number of other currencies, and real world items too, including goats
Having the eMunie web, messaging system, user profiles, user rating system, and chat built into the client will make doing business within the eMunie client a breeze, and it will all be 100% anonymous!!