All About BTC, LTC, ETH mining as well as other alternative crypto currencies
While we are on the topic of CPU mining crypto coins, after going though the currently available alternative crypto coins that are still mineable only with CPU there is pretty much only one that stands from the crowd and that is Coin Magi (XMG). Sure, there are a few more coins that are still CPU only, but their developers are not very active, nothing much is happening there and the community around the coins is pretty much disappearing. With Coin Magi however it is quite the opposite, active developers and large community supporting the coin and mining it even though XMG is already entered its POW-II stage with the reward per block in between 3 and 50 XMG unlike the first 50K blocks (POW I stage) when it was between 5 and 300 XMG. Do note that Coin Magi is also a POS coin, though it uses a so called POS-II algorithm that makes it a bit more complex for the calculation of the interest rate of staked coins.
Since we mentioned complex, this seems to be one of the issues that XMG is facing and one of the main problems that are hurting the coin – there is so much information and things happening about the coin all of the time that it is hard to keep a track on all things for a lot of users. You need to be following closely the development of Coin Magi all of the time and be a bit more advanced crypto currency user to be up to date with everything and a lot of the users are in fact not doing that. The team behind XMG needs to summarize all of the important information about the features and development of the Coin Magi in a brief and user friendly way and instead of pushing too much information to users that don’t know what to do with it ti present them with the important details in short. Anybody that is advanced user or wants to dig up into details can start researching things deeper, but for the people that don’t there is no need to dig deeper than they should just to get the basics of the coin as it is in the moment. This by the way is not a problem that only XMG has, many other alternative crypto coins suffer from a similar problem – ether lack of enough information or with too many details that make it hard to grasp the basics.
One of the latest things happening around the XMG is the launch of their Coin Magi payment gateway called MagiPay, designed for merchants that are interested in accepting the crypto coin as a form of payment. Unfortunately another example of too much and unclear information as we cannot really get if the gateway is already launched and working, there is a website available that seems to be operational, or it will be launched on March 6th. If they start managing things better and actually make it easy for the users the coin can continue to grow as it already has a big community, both mining and trading, is traded on some of the larger altcoin exchanges and has a relatively stable exchange rate. So if you haven’t heard of Coin Magi (XMG), then you might want to take a look at it as there are other interesting new features planned for the future.
GeoCoin (GEO) is an alternative crypto currency that uses the Qubit algorithm for mining, it is already a month old and comes with the ambitious goal of bringing Geographic Information Systems (GIS) technology to the blockchain. Some of the upcoming interesting features that are planned include geocaching implementation with geocoins as a rewards and that should come on a global and not local scale. A geominer that should performs useful GIS analysis instead of using a Qubit crypto algorithm that currently is being used, that one should be implemented when ready, hopefully before the coin is mined. But these are features that we are yet to see implemented as they are currently on the roadmap of the coin. Recently the coin was added to some of the bif altcoin exchanges and this brought it to our attention as something that is developing well and seems promising, especially if they manage to deliver on their promises. Do note that the Qubit algorithm is working better on Nvidia GPUs, so you will be getting higher hashrate mining the GEO with Nvidia than on AMD GPUs.
Block Explorer / Crawler
– at GitHub
Supcoin (SUP) is a new alternative crypto currency that was just launched using a new algorithm called Pluck that is SHA256-based with more load on the memory and was supposed to initially be mined with CPU only, but we saw a very quick release of a ccMiner fork that added GPU mining support for Nvidia from djm34. The coin has a relatively small pre-mine that will mostly go for bounties and already has a few pools available for mining, though exchanges are not yet available. It is an interesting new project that you might want to check out and there is definitely an interest since you can already even rent hashrate from MiningRigRentals with the new Pluck algorithm. Betarigs has also apparently added the new algo, but there are no mining rigs available to rent there yet. So it is a project that you might want to check out as it might turn out to be an interesting alternative crypto coin.
Block Explorer / Crawler
Not yet available.