Mavrodicoin is an open-source pure proof-of-work cryptocurrency.
x11 pow hash function.
Disable huge hash – specific pow block reward design to maintain the network hashrate and make mining available to cpu more..
The typical constant block reward has raised profit-driven hardware competition race, and concern of the global energy consumption; in particular the construction of powerful hardwares is changing the decentralized and more open nature of cryptocurrency. the increase of block rewards with increasing network difficulty at the initial mining stage allows individual miners to gain nearly equal amount of coins.
Solely increasing reward despite the difficulty can drive miners towards building more powerful equipment as well. this therefore needs the mining discouraging phase. the relationship between mining costs and returns in consistence with economics should be the guideline to achieve the goal. we assume this is valid. for example, one who has powerful equipment and hence high cost as well will expect commensurate returns; otherwise, the cost must be reduced by reducing the usage of equipment. the efficiency of discouraging mining activities is fully determined how fast the rewards decline with difficulty (at the high difficulty range). it should be noted that self-adjustment of network difficulty in accordance with rewards is affected by both the reward declining rate and the market place of the cryptocurrency. one can build up more powerful equipment to compensate the declining rewards. a much faster declining rate will disable any possibility of acquiring desired rewards by simply building more hashing power. in the above figure, the maximum block reward is available at diff = 1.75 (i) (or ~40 mhash/s). the reward is halved when diff = 2.20 (or ~51 mhash/s) (ii), and equals to 1/10 of the maximum value at diff = 2.37 (or ~55 mhash/s), at which the low rewards will be lack of incentive to the miners.
One may expect the market place will affect the miners鈥behavior significantly. for example, the high-pricing reward leads more miners into the network which immediately move the block reward out of the maximum region. this initiates a self-adjustment of the rewarding system. realizing the marginal rewards (e.g., at iii), some of the miners start ceasing their minings, thus pushing the reward back to the maximum. in this case, it will be relatively less advantageous for miners quickly in and out the mining activity. one will need to show a proof of mining in order to gain sufficient credits to declare the rewards. the new system emphasizes the participation of miners instead of their hashing power.
Miners should be aware of the current low block rewards (5 xmg/block typically) is because of the overtuning of the rewarding system; that is, we are at iii, rather than i. this is important; big miners might need to lower their hashrate a little bit, so that the reward will be back to maximum (at i).
The SHA-256 algorithm, originally from mavrodi coin uses 11 rounds of hashing algorithm to keep things nice and secure.
Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo) pow decentralized masternode network
SHA-256 is a widely used hashing algorithm created by coin core developer evan duffield. SHA-256’s chained hashing algorithm approach utilises a sequence of eleven scientific hashing algorithms for the proof-of-work. this is so that the processing distribution is fair and coins will be distributed in much the same way bitcoin’s were originally. asics will be much more difficult to make for these algorithms and should take years.
With chained hashing, high end cpus give an average return similar to that of gpus. an added benefit of the algorithm is that gpus require approximately 30% less wattage and run 30-50% cooler than they do with SHA-256.
Focused mostly on production of coins by pos as pow difficulty will gradually increase.
Mavrodi coin is designed to be energy efficient on the whole, through a variety of dynamic adjustment mechanisms as well as its focus on the cpu mining. the general design concept is to reduce energy consumption during pow. the use of hybrid pow/pos in the meantime secures the network. due to how effective it is, graphic cards do not require that much power in order to mine it. therefore, you will see significantly lower electricity costs at the end of the month. this makes coins running this algorithm to be a favorite in places where electricity costs are far from bearable.
The energy consumption is largely depressed by limiting under the scope of cpu mining equipment. resistance to gpu and asic based machines are accomplished by employing a particularly designed which comes with an iterative sequential algorithm.
The pow mining is done through a new x11 algorithm, which enables mining via cpu only (resistant to gpu & asic).
Pow mining rewards are suppressed upon the occurrence of large network hash rate. this specifically designed block rewarding system largely frustrates big mining farms (e.g., cpu farms) and thus to a large degree reduces the energy consumption on the whole;
Future efforts will be placed on the development of mining mechanisms which emphasized encouraging cpu miners.