Bitcoin Forum
May 07, 2024, 12:56:12 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What do u think about EMERCOIN introduction of MERGED MINING?  (Read 351 times)
tinoco (OP)
Newbie
*
Offline Offline

Activity: 22
Merit: 0


View Profile
July 05, 2016, 08:11:14 PM
 #1

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 [Suspicious link removed]plexity, 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 Emercoin. Where trust exists, further development, innovation, and success will follow.

Source: http://emercoin.com/2016-06-16-Emercoin_Team_Announces_Merged_Mining
1715043372
Hero Member
*
Offline Offline

Posts: 1715043372

View Profile Personal Message (Offline)

Ignore
1715043372
Reply with quote  #2

1715043372
Report to moderator
1715043372
Hero Member
*
Offline Offline

Posts: 1715043372

View Profile Personal Message (Offline)

Ignore
1715043372
Reply with quote  #2

1715043372
Report to moderator
1715043372
Hero Member
*
Offline Offline

Posts: 1715043372

View Profile Personal Message (Offline)

Ignore
1715043372
Reply with quote  #2

1715043372
Report to moderator
Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715043372
Hero Member
*
Offline Offline

Posts: 1715043372

View Profile Personal Message (Offline)

Ignore
1715043372
Reply with quote  #2

1715043372
Report to moderator
1715043372
Hero Member
*
Offline Offline

Posts: 1715043372

View Profile Personal Message (Offline)

Ignore
1715043372
Reply with quote  #2

1715043372
Report to moderator
GenTarkin
Legendary
*
Offline Offline

Activity: 2450
Merit: 1002


View Profile
July 05, 2016, 08:20:23 PM
 #2

Historically, merged mining has done nothing but destroy the price of the minor coins being merged into the major coin. NMC, DOGE ... both prime examples.
MM is trash!

If you cant think of the economic reasons as to why this happens then MM shouldn't be an option ever.

GenTarkin's MOD Kncminer Titan custom firmware! v1.0.4! -- !!NO LONGER AVAILABLE!!
Donations: bitcoin- 1Px71mWNQNKW19xuARqrmnbcem1dXqJ3At || litecoin- LYXrLis3ik6TRn8tdvzAyJ264DRvwYVeEw
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!