ANC Research

Myriad and Aux PoW Notes

Disclaimer/explanation: First of all, I am not a coder. I have a basic understanding of C/C++ but am not at all qualified to analyze the structural security of a cryptographic currency’s source code. This is an attempt to get ANC community started on a research supplement for the ANC coders so that they can work on code more and spend less time sifting through research/threads. I am hoping Meeh will respond and let us know what research would help.

Myriad Specifications (from ANN thread: https://bitcointalk.org/index.php?topic=483515.0):

No premine
Proof of Work:
Scrypt, SHA256D, Qubit, Skein or Myriad-Groestl
Block time: 2.5 minutes per algorithm (30 second average over 5 algos)
Each algorithm has separate difficulty
Block reward halves every 967680 blocks (about 48 weeks)
Initial block reward: 1000 MYR
Total coin supply: About 2 billion MYR (after about 10 years)
Difficulty adjusts every block
P2P port: 10888
RPC port: 10889
Configuration file: myriadcoin.conf
How it works
Each proof of work algorithm has its own independent difficulty.
Any algorithm can find the next block.
All the algorithms use the same difficulty adjustment method.
On average, each algorithm has the same chance of finding the next block.
Each algorithm aims for a block generation time of 2.5 minutes.
Over the five algorithms, a block should be found on average every 30 seconds.


I. Whitepapers, explanations, links:

1. “Multi-vPoW”: http://coinbrief.net/myriadcoin-merge-mining/

A. BTCTalk discussion, 3-page thread (as of 10/25/14) of Multi-vPoW: https://bitcointalk.org/index.php?topic=725991.0

2. Dev Chat: neuroMode appears to be an active dev/MYR community member: https://bitcointalk.org/index.php?action=profile;u=97048;sa=showPosts

A. Merged mining children questions and answers:
        	https://bitcointalk.org/index.php?topic=483515.msg8595148#msg8595148


II. Issues for further research

Rapid inflation: Coin total for myriad is “about 2 billion after 10 years”; 1000 block reward (30 second average over 5 algos). “1/4 of all Myriadcoins have been produced. The last 3/4 will be produced over the next 9 years.” See the Myriad specs below.

Mintpal v2 failure: It has been suggested that reduced volume of MYR recently has stemmed from the failure of Mintpalv2, among the most popular MYR exchanges.

Crypto Hunger’s DigiByte grotestl pool:
This is supposedly a pool operator scam, but its worth a look. Most likely: A. Pool operator scamming; B. Issues with the use of Grotestl algorithm; or C. Issues with the multi-PoW used by Digibyte, which, as I understand, is similar to that used by MYR. These issues were pointed out in early Sept. and I don’t know if they’ve been addressed. More research would be required. Links to convo can be found here:
https://bitcointalk.org/index.php?topic=586320.msg8719108#msg8719108