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Author Topic: Magi XMG unique M7Mv2 PoS-II PoW next generation currency for people everywhere!  (Read 118514 times)

111magic

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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






Votinglist



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


CPU Miners

http://m-core.org/resources/mining.html

Source: https://github.com/magi-project/m-cpuminer-v2
GUI (m-cpuminer-qt): Windows 64, 32, Mac OS X, Linux 64, Source, Github release
NeedIfFindIt's GUI Miner: Makejar download (Windows), Coinmagi.org host download
m-minerd (m-cpuminer-v2): Windows 64, 32, Mac OS X, Linux 64, Source, Github release
Spexx's minerd: Download here (Windows), Coinmagi.org host download
Guide to launch the miner
Adjust CPU mining usage: "-e cpu_efficiency" between 0 - 100 (i.e., 0 - 100%)
Code: [Select]
m-minerd -o stratum+tcp://pool_url:pool_port -u pool_user.worker -p password -t thread_numbers -e cpu_efficiency



Nodes
104.128.225.215
216.189.151.56
103.11.64.40

Block Explorer
CryptoID | m-chain.info



 [Magireview 2017]




 [MagiIntro Video] - What is Coin of the Magi 2014?






Videos












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 Check Guides above for more anwers on FAQ]
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 of the Magi XMG

The team of Magi consists of many lovers of the digital currency.
Main developer is Joe Lao, a real genius with a vision.
Joe finished in 2014 in the top 5 of the election of best developers in the world in the field of digital currencies
Magi started in 2014 without ICO. Other enthusiasts supported Joe and formed a team. Since most of the work is done by the volunteer team members, some developments take longer than other currencies that have a large fund to pay for new developments.
It is difficult to mention all names here as we do not want to pass people. Many are active here but also in the other channels of Magi such as Slack, Telegram, Reddit, Steemit etc. For example; ex33s, Goldlabel, Filoozom, Suntribe, Magicoin, dury10 & many more.
Soon there will be a list of names of the team members and be placed here.
Magi XMG is a unique project that stays true to our goals & follows its own unique route. Built for all people & backend by growing international friendly community. MAGI XMG FAIR & UNIQUE, CREATED TO IMPROVE THE QUALITY OF THE CRYPTO WORLD!

« Last Edit: January 26, 2018, 01:07:59 PM by 111magic »
https://www.m-core.org
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Maintenance for Magi (XMG) on Bittrex.
Will be back online soon.
https://www.m-core.org
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Maintenance for Magi (XMG) on Bittrex.
Will be back online soon.
Maintenance finished! ;D
Magi back and active on Bittrex.
https://www.m-core.org
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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http://bitcoingarden.tk/forum/index.php?topic=4571.msg97142#msg97142
Magi has updated the Portuguese OP.   ;D
Special thanks to Prfagun1
« Last Edit: August 30, 2015, 11:02:45 PM by 111magic »
https://www.m-core.org
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XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Awesome news: Magi app is in development.
Release October 2015!

https://www.m-core.org
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Hi all.
I had an idea and just like to share it here.
The reason: We have to make a difference together.
There are so many different coins that new people don't even know with one they need to pick.

What if some unique coins will have a new exchange.
The community from each coin will help promoting this exchange.
Means if you add some unique coins with a big community there will be a lot of people working together promoting this exchange.
The difference is the promotions: for example you have 10 different communities, all of which promote the same exchange and not just themselves.
Then a huge amount of people that work together to promote that specific exchange.

I like to hear your opinion about this idea!
Good or bad you are welcome to share it here.
https://www.m-core.org
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XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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I think it's an ambitious idea with a lot of costs.  Picking which coins are "good" is not that easy.  Creating an exchange is not easy nor free, there are a lot of costs involved including time, security, and possibly compliance issues.  I'm sure there are many other things that I have no clue about and did not think of.

Maybe a group of coins teaming up to promote their group on an already existing exchange where the infrastructure is already in place?
Hi all.
I had an idea and just like to share it here.
The reason: We have to make a difference together.
There are so many different coins that new people don't even know with one they need to pick.

What if some unique coins will have a new exchange.
The community from each coin will help promoting this exchange.
Means if you add some unique coins with a big community there will be a lot of people working together promoting this exchange.
The difference is the promotions: for example you have 10 different communities, all of which promote the same exchange and not just themselves.
Then a huge amount of people that work together to promote that specific exchange.

I like to hear your opinion about this idea!
Good or bad you are welcome to share it here.


add stuff to this that are different from normal exchanges
like a part of trading fees goes towards coin dev teams
like all coins get access to a fiat trading pair
and such stuff
then u will find coins that would join into such project

always ask urself why a coin traded on cryptsy and bittrex should be interested?
and find answers to this question
« Last Edit: September 02, 2015, 01:07:03 PM by 111magic »
https://www.m-core.org
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XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Might be right. Little to ambitious.
Lets take things step by step.
 ;)
Release October 2015!

https://www.m-core.org
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XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8

111magic

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Are there any plans for XMG to become verified market at Bittrex?
https://bittrex.zendesk.com/hc/en-us/articles/203692234--Draft-What-is-a-Verified-Market-

Did not look at that. But M-team will check it out.
I don't understand whats the benefit for Magi for doing that at the moment. Maybe you can explain a little about it here.

You can read details under the upper link.
Verified Market:
A Verified Market is a market whose Market currency has completed a proof-of-developer by a developer verification service such as ProofofDev.com and has traded on the Bittrex site for over 120 days.

For example, BTC-URO trades UroCoin which has a PoD score of 4 and has been on Bittrex since May 15th, 2014.  Source: http://proofofdev.com/uro-urocoin/

We do not warrant any developer or coin verification scores but provide them as a tool to help traders assess the level of risk they are willing to take.


Is DEV thinking about it?

Think Magi can share some good news about this soon! ;)
https://www.m-core.org
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Zapotec

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I like to hear your opinion about this idea!
Good or bad you are welcome to share it here.

Running an exchange is a hard business. Actually the number of altcoin users is quite small and most exchanges are struggling to cover the costs. You see how many come and go... Much better concentrating in getting on board of the good ones.

Good thing of decentralization is that individual people can set up their own idea/services. I think a coin should just look around for good services 3rd parties develop, and jumping on board of the good ones. Less work, less time/resource consummation and potentially better results.




111magic

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Thank you for your feedback/respons.
I think its good to think about the future of cryptocurrency op different fronts.
https://www.m-core.org
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Principe

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A new set of 7 magi avatars has been added to the altcoin avatar gallery. Enjoy!
★ GMC: GMe3xphPgHMVpKXtgUS1PDceQ9oZMePJr7      ★ ORB: oX9m3i3HUDr5hfyvWBJoyf8CMqajqMsivf    
★ WMC: wRarR72pv48RmqBwo6yNPwtdEpfRb7CXFL     ★ FUJI: FYLPULhtEogiXtW4xHUcShuxXf4oz2uPvk
★ OK: PPeXXxAzGHwLFr66MoqrqJjZZoHaXKVXNW         ★ XMG: 97fNfgmgSEQ4Gzq5e7pDuVR646Qinhh4on

111magic

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A new set of 7 magi avatars has been added to the altcoin avatar gallery. Enjoy!

Thanks Principe, thats really cool!
Remember people; last day to add you Magi picture for the contest!
http://bitcoingarden.tk/forum/index.php?topic=4487.0
« Last Edit: September 04, 2015, 10:18:24 PM by 111magic »
https://www.m-core.org
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111magic

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Another example!   ;D
https://www.m-core.org
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111magic

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