This post will be short and to the point. I wanted to make you guys aware of Myriad.
Myriad is similar to Quark, in that it uses a plethora of different hashing algorithms to create blocks. Where it differs is that instead of using all these algorithms sequentially, they can be used concurrently. Any of the five hashing algorithms is able to find the next block. This has some interesting implications, both good and bad. It puts everybody on an equal footing, regardless of whether they’re mining with an ASIC, GPU, or CPU. That’s the good part. The bad part is that if a flaw is found in just one of these algorithms, the whole system will crumble.
Still, I quite like this coin. The ‘fair mining’ aspect of it is intriguing. At the current pricing of ~800 satoshi, Myriad is currently sitting at a $150,000 market cap. It JUST got listed on coinmarketcap and the price hasnt moved much, so I believe it’s still pretty undervalued. Time to place your bets.
Ouch Hazard, Myriad is worth just over a quarter of what you quoted now. Bit of a worry. I like the idea of a cryptocurrency with multiple algorithms, but my concern is that the CPU based algorithms will probably get dominated by botnets. What are your thoughts on this?
Hey Hazard !
Do you know who creating all this coins with Air/mail drop AUR SPA XSV APH lol? The websites are all similar :/ always 50% premine ..etc
it’s actually the other way around, if one of the algos is flawed then the other 4 will still carry the blockchain without any problems, on the other hand on single algo coins if the algo is flawed then the coins is kinda fucked, don’t you think ?
Do you see myriad as more of a long-term hold or as something you’d sell pretty quick if it rose a lot?
Most altcoins are short term.
Though most alts are short term holds, Myriad is more of a long term hold, imo. Look for major moves with it in early summer and into the Fall, 2014.