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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1815285 times)
joelao95
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Coin of the Magi!


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August 12, 2014, 05:53:06 AM
 #1


Summary

Magi (XMG) is a PoW/PoS hybrid coin (mPoW/mPoS). Magi is designed with difficulty dependent mining reward for proof-of-mining (PoW) blocks in order to put network hashrate under a certain limit. Magi at the first time implements a novel proof-of-staking mechanism, to frustrate potential attack through accumulating a large number of coins and offline staking time (read more..). Magi is at the first concentrating on the low cost in maintaining its block system, for example, through cost effective mining devices. To this end, Magi, aiming at fairness, cost effective and energy efficiency, strives for every single effort to make mining be available to everyone, and provides an even playing field for people looking to issue digital coins without expensive equipment.

mPoW, the magi's proof-of-work (PoW) protocol, in addition to required computational works to be done to deter denial of service attacks, is also a network-dependent rewarding model system. The mPoW rewards participants who solve complicated cryptographical questions not only to validate transactions but also to create new blocks and generate coins. The amout of coins generated are constantly monitored by the mPoW protocol and tuned on the basis of an attraction-repulsion model: 1) incremental rewarding to stimulate network activities during passive mining phase, and 2) decremental rewarding to mitigate redundant mining sources during agressive mining phase. mPoW can effectively govern the magi's network and limit it under a certain scale, enabling the general devices to be capable of mining magi. ++ For details - A network-dependent rewarding system: proof-of-mining

mPoS, the magi's proof-of-stake (PoS) protocol, aims to achieve distributed consensus through operations in addition to mPoW. mPoS is designed such that it rejects potential attacks through accumulating a large amount of coins or offline staking time, either of which leads to security concerns. Similar to mPoW's operation, mPoS is constructed in accordance with the concept of the attraction-repulsion model. Magi hybridizes mPoW with mPoS, and integrate both consensus approaches in order to acquire benefits from the two mechanisms and create a more robust payment system. ++ For details - magi's PoS

 [MagiIntro Video] - What is Coin of the Magi?


 [Magireview 2017]



Specifications
Symbol: Σ

Proof of Work (PoW)
Disable huge hash - Specific PoW block reward design to maintain the network hashrate and make mining available to CPU (more..)
M7M (v2) PoW hash function
Block time - 3 minutes
MagiQuantumWave (MQW) difficulty adjustment per block

Proof of Staking II (PoS-II)
Security enhanced - Variable coin age depending on the staking time (more..)
Minimum coin age - 2 hours
Interest rate - network weight dependent with maximum 5%;
Block time - 1.5 minutes
Block hash - SHA256
Maturity: 120
     (Set posii=0 in magi.conf to disable PoS-II)

Total supply: 25 million
RPC - 8232, P2P - 8233



Code:
m-minerd -o stratum+tcp://pool_url:pool_port -u pool_user.worker -p password -t thread_numbers -e cpu_efficiency


Block Explorer
CryptoID | m-chain.info


News & Guides


Android mining: https://steemit.com/cryptocurrency/@dury10/it-s-time-for-payback-put-your-old-andoid-device-to-work-for-you-start-mining-using-old-android-devices

Mining guide Pi: https://steemit.com/cryptocurrency/@dury10/start-mining-coin-magi-xmg-with-0-unix-experience-on-a-raspberry-pi-or-any-other-sbc

POS Guide: http://telegra.ph/MAGI-PROOF-OF-STAKE-MINTING-MANUAL-01-09

Poolattractor pools: https://poolattractor.com/pools/

Mining calculator: https://magicalc.herokuapp.com/

Mining Orange PI: https://poolattractor.com/image-mining-coin-magi-orange-pi-zero/

Install Magi wallet on Pi: https://beat.10ztalk.com/2017/10/24/how-to-install-coin-magi-wallet-on-your-raspberry-pi/

Light Splasher Graphics: http://www.lightsplasher.com/2015/magi-coin-review/

Crypto Mining Blog: http://cryptomining-blog.com/4491-cpu-mining-the-coin-magi-xmg-what-can-you-expect/

Crypto Mining Blog: http://cryptomining-blog.com/4459-are-you-looking-for-a-cpu-crypto-coin-try-coin-magi-xmg/

Crypto Mining Blog: http://cryptomining-blog.com/4017-coin-magi-xmg-cpu-only-alternative-crypto-currency/

Cryptos.Us: http://cryptos.us/crypto-news/item/58-coin-magi-a-unique-cpu-coin


Magi app (in progress?) : https://play.google.com/store/apps/details?id=com.aaronnebbs.magistats&hl=en


FAQ
1. The staking has "Not enough weight", what should I do?
For the regular PoS, "Not enough weight" means insufficient staking time. For Magi's PoS (mPoS), however, the cause can be correlated with the over-time staking. The latter is a typical issue raised by people from time to time. There is only one way to solve this which can be done via resetting staking from scratch: send XMG to another address in the same or another wallet. You may want to use the "Coin control" feature in order to select the input sources. Do not try to stake with a significant amount of XMG that mitigates the weight as well. Once this is done, remaining the wallet running shall gains some staking weights.



  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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August 12, 2014, 05:53:47 AM
 #2

ok sounds interesting
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First Blood + ChainLink


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August 12, 2014, 05:57:12 AM
 #3

M7 is a rather new algorithm. I don't think too many coins have it. But too many coins for me. I.e. 50M
Best of luck to you on your project.
Regards,
Brian


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joelao95
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Coin of the Magi!


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August 12, 2014, 06:00:53 AM
 #4

M7 is a rather new algorithm. I don't think too many coins have it. But too many coins for me. I.e. 50M
Best of luck to you on your project.
Regards,
Brian

How many coins in total you have in mind ideally? Basically issue is not about the total number of coins, Cryptonite has billions, while BTC is 21M, the same order of magnitude here.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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August 12, 2014, 08:22:36 AM
 #5

POS II

sounds amazing. I am down.

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August 12, 2014, 08:45:21 AM
 #6

Second coin with M7 algo, watching Smiley
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August 12, 2014, 01:18:11 PM
 #7

Reserve for coin swap.

joelao95
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Coin of the Magi!


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August 12, 2014, 05:00:14 PM
 #8

Second coin with M7 algo, watching Smiley

Personally I like the design of M7, more secure than others; and its energy efficient. There are X-forever out there by simply adding more and more hash functions, real question if those work out efficiently; so far M7 looks like a good candidate.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
dboylc
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mine for future~


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August 12, 2014, 06:02:35 PM
 #9

MARK~
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August 13, 2014, 12:11:48 AM
 #10

Im in I like cpu coins

THE INGENIOUS GENTLEMAN DON QUIXOTE OF LA MANCHA
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August 13, 2014, 06:42:34 AM
 #11

Good work dev. You should be proud of yourself and your team. You make your words are true!
 Smiley


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
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August 13, 2014, 07:41:32 AM
 #12

how to mine this coin once its started?
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August 13, 2014, 09:34:23 AM
 #13

This coin deserves a good future!


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
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AURA - Smart Contract Ledger


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August 13, 2014, 09:57:28 AM
 #14

I will be mining.

A
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A FIDUS ACHATE, STAYS LOST IN FLIGHT


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August 13, 2014, 10:33:00 AM
 #15

i will be minig

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August 13, 2014, 10:35:31 AM
 #16

M7?or next XCN?Looking forward to it...

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joelao95
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Coin of the Magi!


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August 13, 2014, 01:38:59 PM
 #17

M7?or next XCN?Looking forward to it...


XMG is M7 based, but won't use minichain. Among a few features implemented, XMG emphasizes a new mechanism to resolve a basic deficiency existing in the proof of stake. There are few tries out there but appears to be 'mitigating' this effect but not a solution. This will be the most important task XMG is going to undertake.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
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Coin of the Magi!


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August 13, 2014, 01:40:17 PM
 #18

how to mine this coin once its started?

Miners will be given. Smiley


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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August 13, 2014, 01:51:44 PM
 #19

awesome work XMG DEV! congratulation for successfully launching the new innovation of the coin!

.
..WORLDWIDE CHAIN OF VR AMUSEMENT PARKS..

.
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August 13, 2014, 02:15:30 PM
 #20

will keep an eye on this coin, like to see PoS-II.
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