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magicoin

MAGI

Magicoin

Algorithm:

What is Magicoin?

Magicoin is a peer-to-peer global currency that enables instant payments to anyone in the world. Magicoin is de-centralized and operates with no central authority or banks. Magicoin uses a memory-hard, scrypt-based mining proof-of-work algorithm. Anyones in the world can issue magicoins through their computers to contribute the digital currency community.

Release date: April 8th, 2014

Specifications

  • Algorithm: Scrypt
  • Magicoin distributes coins using the pattern similar to LTC; simply count its value by comparing with LTC, however, we do magicoins, see below for details
  • 2.5 minute block targets
  • Subsidy halves in 840k blocks (~4 years)
  • ~84 million total coins
  • 90% coins distributed "normally", i.e., halving every ~4 years, while 10% coins distributed magically (details explained below)
  • In average, 50 coins per block
  • 2016 blocks to retarget difficulty (use Kimoto Gravity Well - KGW algorithm)
ExchangePrice
SWISSCEX no API

Pools

News