Archive for the ‘Crypto Coins’ Category

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:
– Yobit

New Altcoin Kryptohash (KHC) with New KSHAKE320 Algorithm

8, Dec 2014

kryptohash-khc

Kryptohash (KHC) is a new altcoin launched earlier this month that uses a brand new Proof-Of-Work algorithm (PoW) based on the Keccak but in a mode called Extendable-Output (a.k.a. SHAKE). SHAKE’s variable output makes it ideal for a Proof-Of-Work algorithm, as it can easily be configured to require large amount of memory which increases the computing cost to those attempting to perform large-scale ASIC attacks. In the case of the KSHAKE320 used by Kryptohash, each hash calculation requires 64Kb of RAM and it can be easily enhanced in the future to require 128Kb, 256Kb, 512Kb, 1Mb, etc.

Kryptohash (KHC) is currently not available on any exchange. The coin currently has only an OpenCL miner available in the fork of a cgminer-khc fork that supports the KSHAKE320 algorithm. Also the coin has no pools supporting it available for the moment, meaning you can currently only solo mine it via the wallet. Other than being a cool new ASIC proof coin using a new crypto algorithm there isn’t much else to the coin for the moment, but still you can check it out if you are interested.

– For more information about the new Kryptohash (KHC) with KSHAKE320 algorithm…

VertCoin (VTC) to HardFork to Lyra2RE on December 16th

4, Dec 2014

vertcoin-vtc-lyra2re

VertCoin hasn’t been doing so good lately due to the coin relying on the kind of outdated Scrypt-N algorithm, though profitability wise it wasn’t so bad to mine and sell immediately at times. This however is hopefully going to change later this month or to be more precise around December 16th when a HardFork of the VTC is expected to happen to a new algorithm – Lyra2RE. The fork will happen at block 208301 and you will have to upgrade your wallet before that to continue using it after the fork. The people behind the development of the VertCoin have published a whitepaper with more information about the Lyra2RE algorithm. Lyra2RE is a chained algorithm consisting of five different hash functions: Keccak, Skein, Groestl, Blake and Lyra2 and working forks of ccMiner and sgminer with support for it should soon be available for GPU miners with both AMD and Nvidia mining rigs. Hopefully this hardfork to a new algorithm will help revive the interest and bring up the price to similar levels it has been at before, hopefully it can successfully follow the footsteps of the FTC fork to NeoScrypt, but we’ll have to wait and see later this month what will actually happen.

– For more details about the hardfork of VertCoin (VTC) to the new Lyra2RE algorithm…


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