Anyone here privy to the state of Fugue coin. The chain is still functioning and small trades ( listed a 3 exchanges )
What happened to this? I was even able to solo mine it and confirm transactions...but nothing at forum.
It's suffering the same fate as is likely to befall all the other algo-themed coins eventually, interest has dwindled to near zero.
Time and technology moves on; what was algorithmically hot in early 2014 is simply tepid four months later. At some point in the future, there may be a renaissance but I can't see a compelling reason for that happening any time soon, even with the current high level of dissatisfaction with new coin launches.
3 exchanges? I can only find it on one.
But, I'd be grateful for a copy of getpeerinfo results, I can't find anything to sync to.
For comparison, Grøstlcoin made a much better job of the marketing and what we're seeing here are basically the consequences of that crucial difference.
Nevertheless, one of the stronger points of this particular altcoin is that it is a “single malt” coin amidst a raft of “blended” (multi-algo) offerings (e.g. sifcoin, quark, qubit, nist5, twe, x11/12/13/14).
I need to explain my analogy ...
One source of my enlightenment (on the topic of “single vs blended”) is the
SiFcoin dev's rationale for the design decision to adopt a multi-algo approach (google translated):
“Complication chain to the length of 6 different hash functions and increase bit depth to intermediate 512 - attempt to protect from further development of extremely efficient Mh / s gpu-algorithms and theory, "simple" Gh / s devices”. No mention of security, just a possibility of limiting GPU advantage.
The other source of my enlightenment is the posts made to the stackexchange discussion
Guarding against cryptanalytic breakthroughs: combining multiple hash functions. Zooko's and Thomas' posts in particular bring a realistic appreciation of the issues.
Somehow, a simple and straightforward tactic to limit GPU advantage has mutated into security theatre: “super secure hashing” (
Quark), “X15 adds 2 extra layers of hashing to the popular and already very secure X13 hashing Algorithm” (
Maiacoin).
When it's boiled down to the essence: for an altcoin, a tactic of chaining hash algos can't be proven to increase security nor can the tactic be proven not to reduce security, the latter weakness being a default FAIL according to accepted best cryptographic practice.
This fact will be appreciated by altcoin engineering connoisseurs in a fashion I can only feebly analogise to the “single malt” vs “blended” dimension, hence my description of Fuguecoin as a “single malt” altcoin.
Cheers
Graham
Poll
