Coin Magi (XMG) CPU Only Alternative Crypto Currency

10 Dec
2014

coin-magi-xmg-logo

We haven’t talked about crypto coins that are mineable with only CPU and do not have a GPU or ASIC miners lately, but with the not so attractive options for GPU ans ASIC mining lately people are starting to look for some CPU coins again. Looking around through the more recent launches that still remain CPU only one coin catches our attention, it is called Coin Magi (XMG). This crypto coin has been available for a few months already and thanks to the use of a new algorithm called M7M (improved version of the M7) it still remains a CPU only coin. The coin uses a hybrid proof of work and proof of stake algorithm and a block rewarding system to enable fairness in the distribution of coins among miners. By removing the competitive nature of mining, the XMG tries to offer an even playing field for anyone looking to mine currencies without the need to own expensive mining hardware.

The Coin Magi (XMG) is already quite developed and is supported by multiple exchanges, has numerous pools and even a multipool where you can mine other coins and get paid in XMG, there is currently an ongoing effort for introducing a PayPal-like payment system to use XMG called MagiPay. It is not too late to join the party if you have some spare CPU power, though there are a little over 5000 blocks left in the PoW phase of the coin before it enters the PoS stage. Even if you do not have enough CPU power to try mining yourself, you can rent some M7M hashrate for mining XMG from Mining Rig Rentals where currently we see 18 rigs available selling hashrate for the M7M algorithm.

Website:
www.coinmagi.org

Block Explorer / Crawler:
https://chainz.cryptoid.info/xmg/
http://m-chain.info/chain/magi
https://bchain.info/XMG/
https://www.blockexperts.com/xmg
http://www.multifaucet.tk/index.php?blockexplorer=XMG

Coin Specifications

  • M7M (v2) PoW Algorithm
  • Total supply: 25 million XMG coins
  • Block time: 3 minutes
  • MagiQuantumWave (MQW) difficulty adjustment per block
  • Proof of Staking II (PoW-II) Algorithm
  • PoS Interest rate – network weight dependent with maximum 5%
  • PoS Block time: 1.5 minutes
  • PoS Block hash: SHA256
  • PoS Maturity: 120

Wallet:
Online Staking Wallet
Windows
Linux
MAC OS

Source Code:
at GitHub

Ports:
– RPC Port: 8232
– P2P Port: 8233

Mining Pools:
https://xmg.suprnova.cc/
https://pow.magipool.info/
https://xmg.maxminers.net/
http://xmgpool.cf/
https://www.suchpool.pw/xmg/
https://pom.m-hash.com/
https://magipi.tk/

Coin Exchanges:
Bittrex
Bleutrade
Poloniex



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