[ANN][XMY] Myriad | Multi-Algo, Fair, Secure

[MentalCollatz]

The bottom line is that the original multi-algo solution really had 5 independant algos.
This was only slightly more secure than typical single algo, with the extra security mostly steaming from attracting more people to mine.
If you think this involves no social considerations you missed the whole point.
The assumption that having N algos attracts 1/N computing power per algorithm is just nonsense.

MYR was badly timewarped some months ago. Since then, the multiple-algos have been mildly 'bound toghether'. MentalCollatz basicall made a ELI10 explanation on r/myriadcoin some time ago but I fail in finding decent keyword to search.
As far as I remember, diff calculations are still the same but the way the good chain is selected is much improved.

For a distributed system, I'd say the logic driving this is surprisingly simple: they could do full statistical analysis of some sort. That's probably still not enough; nonetheless it's obvious we need to reject this so we can move forward </sarcasm>.

Hmm...not sure which post you're referring to exactly.  I'm not very good at ELI10 but I have a bunch of technical discussions floating around.

The way the best chain is selected is still via "total work", but the way work is calculated has changed.  From the original idea of applying fixed weights to each algorithm, Myriad switched to using the average of all algorithm difficulties, then after a potential attack was discovered a decay step was added.  I had a proposed method that compared blocks considering each algorithm separately, rather than summing them up into one big "total work" value, but it had some technical issues and was abandoned.  My latest proposal which is going into Digibyte involves multiplying all the difficulties instead of adding them (then taking the 5th root instead of dividing by 5).  This happens to play very nicely with DigiShield, but has weaknesses when paired with other difficulty adjustment algorithms.

I think that multi-algo is a powerful idea, but I think it has yet to prove itself.

[novag]

On bittrex some moving!!
https://bittrex.com/Market/Index?MarketName=BTC-MYR

[novag]

I think the need to reboot a coin - we need a new target, applied aspect (for example offer assistance to banks).
The idea of the normal can be left (multialgo).

[jwinterm]

Proposed new changes to myriadcoin by 8bitcoder:
https://www.reddit.com/r/myriadcoin/comments/3d0ml7/proposed_myriadcoin_changes/

[novag]

These are the changes I talked about a year ago, I think it's better late than never!

[novag]

Proposed Myriadcoin changes

posted 3 hours ago author 8bitcoderMyriad - stickied post

Over the last few months various proposals for changes to Myriadcoin were made here, on bct and on irc. After discussion with Myriad members and developers, the following changes to Myriadcoin are proposed:

1 - Implement auxpow and enable for SHA and Scrypt.

This will allow SHA and Scrypt to be merge minable. It increases the security of the block chain by having high difficulties on the ASIC algo's.

2 - Increase block time from 30s to 60s

This will decrease block chain bloat, give transactions more time to propagate in the networks without too much of an increase in confirmation times.

3 - Modify the chain work calculation to use a geometric mean instead of an arithmetic mean across algos.

There are security advantages to using this method, as previously proposed by MentalCollatz.

4 - Reduce block reward

Cut reward from 500 MYR to 50 MYR per block, with the reward increasing by 1 MYR every two years.

This will reduce the current high inflation in Myriad.

https://www.reddit.com/r/myriadcoin/comments/3d0ml7/proposed_myriadcoin_changes/

[jwinterm]

Proposed Myriadcoin changes

posted 3 hours ago author 8bitcoderMyriad - stickied post

Over the last few months various proposals for changes to Myriadcoin were made here, on bct and on irc. After discussion with Myriad members and developers, the following changes to Myriadcoin are proposed:

1 - Implement auxpow and enable for SHA and Scrypt.

This will allow SHA and Scrypt to be merge minable. It increases the security of the block chain by having high difficulties on the ASIC algo's.

2 - Increase block time from 30s to 60s

This will decrease block chain bloat, give transactions more time to propagate in the networks without too much of an increase in confirmation times.

3 - Modify the chain work calculation to use a geometric mean instead of an arithmetic mean across algos.

There are security advantages to using this method, as previously proposed by MentalCollatz.

4 - Reduce block reward

Cut reward from 500 MYR to 50 MYR per block, with the reward increasing by 1 MYR every two years.

This will reduce the current high inflation in Myriad.

https://www.reddit.com/r/myriadcoin/comments/3d0ml7/proposed_myriadcoin_changes/

Looks like #4 is most contentious, with #1 having one or few people opposed. Any plans on hashing this out, so to speak? Or is it just BDFL situation?

[Danslip]

Proposed Myriadcoin changes

posted 3 hours ago author 8bitcoderMyriad - stickied post

Over the last few months various proposals for changes to Myriadcoin were made here, on bct and on irc. After discussion with Myriad members and developers, the following changes to Myriadcoin are proposed:

1 - Implement auxpow and enable for SHA and Scrypt.

This will allow SHA and Scrypt to be merge minable. It increases the security of the block chain by having high difficulties on the ASIC algo's.

2 - Increase block time from 30s to 60s

This will decrease block chain bloat, give transactions more time to propagate in the networks without too much of an increase in confirmation times.

3 - Modify the chain work calculation to use a geometric mean instead of an arithmetic mean across algos.

There are security advantages to using this method, as previously proposed by MentalCollatz.

4 - Reduce block reward

Cut reward from 500 MYR to 50 MYR per block, with the reward increasing by 1 MYR every two years.

This will reduce the current high inflation in Myriad.

https://www.reddit.com/r/myriadcoin/comments/3d0ml7/proposed_myriadcoin_changes/

Looks like #4 is most contentious, with #1 having one or few people opposed. Any plans on hashing this out, so to speak? Or is it just BDFL situation?

Are you a multi pool owner? Why would you care about reduction in block rewards?

[jwinterm]

Proposed Myriadcoin changes

posted 3 hours ago author 8bitcoderMyriad - stickied post

Over the last few months various proposals for changes to Myriadcoin were made here, on bct and on irc. After discussion with Myriad members and developers, the following changes to Myriadcoin are proposed:

1 - Implement auxpow and enable for SHA and Scrypt.

This will allow SHA and Scrypt to be merge minable. It increases the security of the block chain by having high difficulties on the ASIC algo's.

2 - Increase block time from 30s to 60s

This will decrease block chain bloat, give transactions more time to propagate in the networks without too much of an increase in confirmation times.

3 - Modify the chain work calculation to use a geometric mean instead of an arithmetic mean across algos.

There are security advantages to using this method, as previously proposed by MentalCollatz.

4 - Reduce block reward

Cut reward from 500 MYR to 50 MYR per block, with the reward increasing by 1 MYR every two years.

This will reduce the current high inflation in Myriad.

https://www.reddit.com/r/myriadcoin/comments/3d0ml7/proposed_myriadcoin_changes/

Looks like #4 is most contentious, with #1 having one or few people opposed. Any plans on hashing this out, so to speak? Or is it just BDFL situation?

Are you a multi pool owner? Why would you care about reduction in block rewards?

Because it is unfair to people learning about the coin after the change happens. It just seems kinda scammy to have fast emission when coin has relatively small userbase, and then slash it by 20x. How do you expect people to feel like they had a fair opportunity to get coins if they find out about myriad post-reduction? I think it would be a deterrent to any potential future users coming along after the reduction.

[novag]

Proposed Myriadcoin changes

posted 3 hours ago author 8bitcoderMyriad - stickied post

Over the last few months various proposals for changes to Myriadcoin were made here, on bct and on irc. After discussion with Myriad members and developers, the following changes to Myriadcoin are proposed:

1 - Implement auxpow and enable for SHA and Scrypt.

This will allow SHA and Scrypt to be merge minable. It increases the security of the block chain by having high difficulties on the ASIC algo's.

2 - Increase block time from 30s to 60s

This will decrease block chain bloat, give transactions more time to propagate in the networks without too much of an increase in confirmation times.

3 - Modify the chain work calculation to use a geometric mean instead of an arithmetic mean across algos.

There are security advantages to using this method, as previously proposed by MentalCollatz.

4 - Reduce block reward

Cut reward from 500 MYR to 50 MYR per block, with the reward increasing by 1 MYR every two years.

This will reduce the current high inflation in Myriad.

https://www.reddit.com/r/myriadcoin/comments/3d0ml7/proposed_myriadcoin_changes/

Looks like #4 is most contentious, with #1 having one or few people opposed. Any plans on hashing this out, so to speak? Or is it just BDFL situation?

Are you a multi pool owner? Why would you care about reduction in block rewards?

Because it is unfair to people learning about the coin after the change happens. It just seems kinda scammy to have fast emission when coin has relatively small userbase, and then slash it by 20x. How do you expect people to feel like they had a fair opportunity to get coins if they find out about myriad post-reduction? I think it would be a deterrent to any potential future users coming along after the reduction.

What kind of user are you talking about? those who who obtains a coin? if for them so they have almost gone, there are only investors and ordinary consumers are interested in and start a coin in which inflation fell at times and that would benefit from its services.

[silverstacker]

cant sync the wallet , no active connections

[Danslip]

Because it is unfair to people learning about the coin after the change happens. It just seems kinda scammy to have fast emission when coin has relatively small userbase, and then slash it by 20x. How do you expect people to feel like they had a fair opportunity to get coins if they find out about myriad post-reduction? I think it would be a deterrent to any potential future users coming along after the reduction.

The myraid coin developers have sold out to digibyte so no point investing anything here. It's just a testnet environment for digibyte so even reducing the coins to 1 won't help. So why stress?

[novag]

Because it is unfair to people learning about the coin after the change happens. It just seems kinda scammy to have fast emission when coin has relatively small userbase, and then slash it by 20x. How do you expect people to feel like they had a fair opportunity to get coins if they find out about myriad post-reduction? I think it would be a deterrent to any potential future users coming along after the reduction.

The myraid coin developers have sold out to digibyte so no point investing anything here. It's just a testnet environment for digibyte so even reducing the coins to 1 won't help. So why stress?

It seems just showed up and debunker of all :-)

[Danslip]

Because it is unfair to people learning about the coin after the change happens. It just seems kinda scammy to have fast emission when coin has relatively small userbase, and then slash it by 20x. How do you expect people to feel like they had a fair opportunity to get coins if they find out about myriad post-reduction? I think it would be a deterrent to any potential future users coming along after the reduction.

The myraid coin developers have sold out to digibyte so no point investing anything here. It's just a testnet environment for digibyte so even reducing the coins to 1 won't help. So why stress?

It seems just showed up and debunker of all :-)

All I am saying  is if you want to invest in myriadcoin then just buy digibyte.

[novag]

Digi seems dead without coin capacities unlike myriad coins.

[mmihai1978]

All I am saying  is if you want to invest in myriadcoin then just buy digibyte.

is there any competitive advantage to digibyte? i see none.

the only reason to buy digibyte is to support the price and help existing bagholders. At least myriad is cheap and easy to mine.

[novag]

All I am saying  is if you want to invest in myriadcoin then just buy digibyte.

is there any competitive advantage to digibyte? i see none.

the only reason to buy digibyte is to support the price and help existing bagholders. At least myriad is cheap and easy to mine.

Yes, they have the myraid coin devs in their pocket and they have a bit of marketing even if it is only about 50 people that hold 100s of millions of coins each. MentalCollatz and 8bitcoder are officially digibyte developers using this coin as a testnet for changes they need to make to digibyte. Take the risk here and if no bugs goes to the main coin.

It is all speculation and conjecture, there is at least one more proof?

[mmihai1978]

both coins have the same issues, despite digibyte appearing to have professional management / leadership. I am quite happy I managed to exit my positions in digibyte at no loss.

the huge inflation is destroying these coins; the technical inovations are cute, but not enough. Personally, I support the changes so that myriad may have the slightest chance to increase / maintain its value.

However, I believe the changes proposed are not radical enough.

[novag]

As I said earlier decision that the developers took the coin, increase the value of the coins on the market.

[MentalCollatz]

All I am saying  is if you want to invest in myriadcoin then just buy digibyte.

is there any competitive advantage to digibyte? i see none.

the only reason to buy digibyte is to support the price and help existing bagholders. At least myriad is cheap and easy to mine.

Yes, they have the myraid coin devs in their pocket and they have a bit of marketing even if it is only about 50 people that hold 100s of millions of coins each. MentalCollatz and 8bitcoder are officially digibyte developers using this coin as a testnet for changes they need to make to digibyte. Take the risk here and if no bugs goes to the main coin.

I'm in no way an official DigiByte developer.  I just happen to submit a pull request every now and then.  When I first encountered the coin their difficulty adjustment algorithm was extremely flawed, so I came up with something better and submitted it.  Then I noticed the work algorithm was extremely flawed, so I came up with something better and submitted it.  I've offered my help to Myriad a few times as well, but I find Jared (DigiByteDev) to be more open to suggestions than the Myriad team.

Furthermore, the notion that I use Myriad as a testnet for DigiByte is just ludicrous.  My anti-timewarp algorithm was added DigiByte long before Myriad.