[ANN] Emercoin [EMC] - Merged Mining Press Release

[craslovell]

The Emercoin team is pleased to officially announce the coming addition of merged mining with Bitcoin! You can read the text of the press release below. Also head over to the official Emercoin website to learn more about the great technologies the Emercoin blockchain has to offer.

Press Release
Emercoin Team Announces Merged Mining

16-6-2016

The Emercoin development team has decided to combine the production of both Bitcoin and Emercoin with a vision to significantly increase the trust and reliability of the Emercoin network. Due to the algorithm used to produce both Bitcoin and Emercoin being a common factor, this is a sound and achievable technical decision.

The members that comprise the Emercoin team believe merged mining will signal an increase in network difficulty by 500 times or more for the Emercoin blockchain. This increase in network mining power will help to increase the Emercoin network’s credibility, which is a critical asset in today’s cryptocurrency world. In short visibility + activity = legitimacy in the public eye. To this day, visibility has been the primary aspect holding back the adoption of Emercoin by the general public.

This change will also benefit miners in an economic sense. Currently with the SHA-256 algorithm, if a Bitcoin miner were to “mine” Emercoin or vice versa, the miner would need to divert power away from one blockchain or the other. The addition of merged mining will allow miners to produce both Bitcoin and Emercoin in harmony, without losing the benfit of income from either blockchain.

The increase in network stability was a major factor in this decision. The most important piece, the growth of the Emercoin blockchain complexity, is also a sign of the growth of trust in Emercoin.  As complexity on the blockchain increases, the likelihood and effectiveness of network attacks or deficiencies decreases tremendously.

The positive effects this change will have are clear. What are the negative effects? The team has confidence that there are virtually none. The fact that the block reward will decrease with a higher complexity/difficulty is a negligible effect, since an enormous increase in difficulty of 10,000 times would only bring about a reward drop of approximately a factor of 10. The Bitcoins a miner will receive will offset any decrease in Emercoin reward per block.

As stated before, this change is coming about to help bring trust and reliability to name of Emercoin. Where trust exists, further development, innovation, and success will follow.
 
Emercoin Public Relations Contact
Email: ik@emercoin.com
Twitter: @EmerCoin_EMC
Emercoin Bitcointalk Announcement Thread

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[craslovell]

I received notification of two other users posting on this thread, but their comments appear to have been deleted?

Edit: oh well!

[Bawaler]

Would gladly create a merged mining pool, but don't want to modify the daemon, EMC is not easy to setup for pool use using NOMP/uNOMP because of this:

Code:

[ERROR] [default] - Payments emercoin Check finished - daemon rpc error with batch gettransactions {"code":-32700,"message":"Parse error"}

What could be done, should I tweak the daemon?

[MessyCoin]

Thanks for sharing this exciting news about EMC upcoming move to merge mining!

Press release was added to http://emercoin.com/press

[KarmaShark]

Fantastic news. Bitcoin and Emercoin being mined together is going to have many positive benefits, least being increased visibility with the industry.

[CryptoMaik]

Nice graphic.

Good luck. Watching.

[Peltig]

So many new coins. But watching this harder than others

[dippididodaday]

So many new coins. But watching this harder than others

Me too.

[vingaard]

Good luck and watching. 

[craslovell]

Thank you for your interest gentlemen! It is and has been a good one to watch.

By the way, keep your eye out for a simple way to earn a few free Emercoin in the next few days 

[craslovell]

So many new coins. But watching this harder than others

Emercoin is not a new coin, the chain is about 2.5 years old. See here for the original announcement.

[IconFirm]

Great to read that Emercoin has decided to implement merge mining (AUXPOW). For any SHA256 coin to thrive & grow, merge mining is a must.

I do have a couple of concerns about Emercoin though, so would appreciate it if someone from the Emercoin team could clarify a few things for me:

As everyone knows, Hashcoins LLC are a scam who have stolen funds from customers for mining hardware that doesn't exist & cloud mining contacts that disappear. After reading through their thread, I decided to check out their website, where I noticed that they claim to be working closely with Emercoin, which is disturbing to say the least.

So, can you please confirm what (if any) connection Emercoin has with Hashcoins LLC or any of their listed staff - namely: Sergei Potapenko, Vitali Timostsenko, Nikolay Pavlovskiy, Jaana Thor, Vitali Pavlov & Renna Reemet?

Thanks.

[craslovell]

@IconFirm

Thank you for the response. Hashcoins LLC are not partners in the sense that we work with them on a daily basis or with matters regarding the devlopment or economy of the coin. Rather they have used Emercoin/Microsoft BaaS as a platform to manage their own infrastructure.

[IconFirm]

Thanks for the reply.

Hashcoins LLC are not partners in the sense that we work with them on a daily basis....

Does that mean that you have had contact or are in contact with them or any of the listed staff now?

I think it would be wise for the Emercoin team to completely disassociate itself from this company(?) by requesting that they remove any mention of Emercoin from their site in order to avoid any future recriminations. After all, they are obviously using your brand for fraudulent purposes, which in turn makes Emercoin look bad or involved in some way.

Thanks.

[craslovell]

Thanks for the reply.

Hashcoins LLC are not partners in the sense that we work with them on a daily basis....

Does that mean that you have had contact or are in contact with them or any of the listed staff now?

I think it would be wise for the Emercoin team to completely disassociate itself from this company(?) by requesting that they remove any mention of Emercoin from their site in order to avoid any future recriminations. After all, they are obviously using your brand for fraudulent purposes, which in turn makes Emercoin look bad or involved in some way.

Thanks.

I can't say when the last contact with any of their staff was, but this is something I will check with the rest of the team on. Thanks for the suggestion.

I can assure you any organization or individual who would use the Emercoin name for malicious acts will be dealt with accordingly. Positive growth is our primary concern at this time.

[craslovell]

See here for new Emercoin giveaway!

https://bitcointalk.org/index.php?topic=1520463.0

[Fixx]

Perhaps this misunderstanding my fault so Chris asking me, but I could not clearly explain the situation to him (sorry for bad english)

HashCoins company that has implemented our technology in its production. Moreover did it first. And very successfully.
All the companies that are on the official website in the section partners - our partners.

[IconFirm]

All the companies that are on the official website in the section partners - our partners.

So you are partners with the hashcoins scam. OK, thanks for the clarification.

[Fixx]

All the companies that are on the official website in the section partners - our partners.

So you are partners with the hashcoins scam. OK, thanks for the clarification.

I think your speculations are spam and idle talk.

[IconFirm]

All the companies that are on the official website in the section partners - our partners.

So you are partners with the hashcoins scam. OK, thanks for the clarification.

I think your speculations are spam and idle talk.

You're entitled to your opinion of course, but I suggest you read through the hashcoins thread before passing judgment on anyone. Your partner, who you openly advertise on your website, is stealing funds from customers. I would have thought that it would be in your own interest to distance yourselves from such a company instead of advertising & partnering with them.

I was willing to invest & mine Emercoin, but I won't as long as you continue to associate yourselves or do business with the hashcoins theives/scammers.