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Author Topic: and Why that Matters  (Read 303 times)
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May 02, 2014, 04:32:43 PM
 #1 and Why that Matters
(Written by a Shibe on Reddit:

Follow me for a second and let me explain why this is a very big step for Myriad.

For transparency and history, I'm a long time Shibe. I was introduced to Myriad when I was invited to join Dogecoinx, a small group of devs and miners whose purpose was to try to bring a more secure foundation to dogecoin's framework, specifically the mining algorithms known as proof of work, PoW. As the algorithm suggest, PoW secures the coin and instills value, because people expect rate of return on the work (time-electricity) spent on mining the coin. The problem is, dogecoin and nearly all other coins, are vulnerable to something called 51% attacks. I won't go into detail what that means, only that if a group of miners have the people and technology, they can manipulate the coin's transactions. Most importantly, the very fact that such attacks are possible means the coin is not ready for mainstream, world-wide, acceptance. You cannot trust a global currency that can be undermined by a small group of miners. Also think big, if it's a globally adopted coin, then certain nations might even coordinate such attacks.

Thus, it's very clear that a globally accepted mainstream coin must have secure foundations. At Dogecoinx, we overwhelming decided that the coin that best fits that profile was Myriad. We considered merge mining, we considered PoS in its various forms, but a myriad-model and their "multi-PoW" was clearly the path forward. In the end, though, Dogecoin devs decided to wait, keeping their current algo.
Multi-PoW is the most innovative and stable framework seen in digital currency. It's a framework that is acceptable for mainstream adoption because 1) 51% attacks become practically and realistically impossible. 2) everyone gets to join in on mining, CPU, GPU, and asics. It doesn't fight against technology. It embraces it. This is good. Companies building machines to mine your currency helps establish an economy around the currency. This is incredibly powerful and important! And if you can do it without risking your coins security, that's huge! PoS actually represses technology, multi-PoW embraces it! Myriad does just that!

Now I hope you see why Myriad is the most innovative coin out there. But Myriad has had two problems.

1) They lacked merchant capability.
Ok, this is now fixed. integration means merchants will now have easy access Myriad. This is absolutely enormous! This means that there is only one missing piece of the puzzle, community.

2) while Myriad has been the respected gem by Devs beyond their borders, they have yet to build a community needed to drive the coin past the haze of coins out there. Maybe the recent news regarding liberdad will help. Unclear. But you can help!

Folks, this coin is honestly the real deal. And this old Shibe has been watching them for awhile. Now that they will have access to merchant tools of Moolah, I'm excited to be part of their last missing piece of the puzzle. The Myriad community. Please consider joining me.

Myriadcoin - the first multi-PoW blockchain! (Mine with SHA256 [ASICs], Scrypt [GPU/ASICs], Skein [GPUs], Groestl [GPUs], OR Qubit [CPUs/GPUs]).
Myriad Website // Myriad on Reddit || Myriad Android Wallet || Myriad Electrum Wallet || Multi-vPoW and Block "Tips" - Solution to Parasitic Merged Mining
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