Myriad has the characteristics of a composite algorithm and is a cryptocurrency that contains 5 algorithms at the same time. Unlike Bitcoin, which can only be mined with SHA256d ASIC mining machines, Myriad is compatible with SHA256d ASICS, ScryptASICS and other algorithms, as well as GPU and CPU mining.

1. Project introduction

Myriad is a currency that adopts a multi-algorithm (Multi-Algo). Proper implementation of Multi-Algo leads to higher security and prevents centralization of mining power. Myriad's algorithm has been chosen to secure the blockchain on a diverse set of hardware. We employ ASICs, GPUs and CPUs. Decentralization of mining power is important to maintain democratic control of the coin. The increasing concentration of mining power on other coins has caused problems for Bitcoin. Prevention is the main advantage and innovation of Foolproof.

Myriad also applies combined mining of Scrypt and SHA256D (AuxPOW) which means Bitcoin and Litecoin miners can help secure the Myriads blockchain without additional fees for them or Myriad. Numerous security have thus achieved great success. Further steps have also been taken to ensure the safety of the coins. An algorithm can only mine six consecutive blocks. This, along with advanced difficulty calculations, prevents so-called time warp attacks. All of this means that Algo POW is infinitely more secure than other coins offering an excellent 51% resistance.

Project Features

Multiple Algorithms
Myriad is the first currency to support 5 algorithms, suitable for ASIC, GPU and CPU mining. Currently, these algorithms consist of SHA256d, Scrypt, Myr-Groestl, Skein, and Yescrypt. Myriad's multi-algorithm approach provides excellent resistance at 51%, since a range of different hardware is required to find the 51% square.

Merged Mining
SHA256d and Scrypt algorithms allow merged mining. This allows Myriad to leverage the huge hashrate that current coins use using these algorithms. Merge Mining or AuxPow allows work done using a parent currency such as Bitcoin or Litecoin to be used to find valid blocks on the Myriad blockchain.

Assignment
Myriad was released worldwide on February 23, 2014 at 18:30. The first mine block arrived 4 minutes later, making sure there was no warning. The initial reward is MYR 1,000, which is halved every 96,768 blocks (about 48 weeks). The total supply is about MYR 2 billion. The target block time is 60 seconds, or 300 seconds per algorithm.

Myriad Multivariate Algorithm

Each proof-of-work algorithm has its own difficulties. Any algorithm can find the next block. All algorithms use the same difficulty adjustment method. On average, each algorithm has an equal chance of finding the next block. Each algorithm targets a block generation time of 5 minutes. Across the five algorithms, on average a block should be found every 60 seconds.

2. Comments

Colorful coins, the English name is "Myriad", referred to as XMY, also known as XMY coins. It is worth mentioning that it is the first cryptocurrency to support 5 algorithms and is suitable for ASIC, GPU and CPU mining. Currently, these algorithms consist of SHA256d, Scrypt, Myr-Groestl, Skein, and Yescrypt.

SHA256d and Scrypt algorithms allow merged mining. And this also allows Myriad to take advantage of these algorithms using the huge hashrate that current coins use. Merge Mining or AuxPow allows work done using a parent currency such as Bitcoin or Litecoin to be used to find valid blocks on the Myriad blockchain.

Myriad was officially released globally at 18:30 on February 23, 2014. The first mine block arrived 4 minutes later, making sure there was no warning. Its earliest reward is MYR 1,000, which is halved every 96,768 blocks (about 48 weeks). The total amount provided is approximately MYR 2 billion. The target block time is 60 seconds, or 300 seconds per algorithm.

Related Links:

http://myriadcoin.org/

https://bihu.com/article/266683

http://myriadcoin.org/?lang=zh_CN