Myriad $XMY

Myriadcoin is a unique cryptocurrency that introduced a novel concept in the crypto mining sector. It is the pioneer coin to employ five different Proof-of-Work hashing algorithms in its functioning, contributing to fairer mining practices and promoting even distribution among miners. The five algorithms - Scrypt, SHA256D, Qubit, Skein, and Groestl, each have an equal opportunity of solving the forthcoming block while possessing their individual difficulty settings. However, they all adhere to the same difficulty adjustment methodology.

Block Generation and Mining

Every algorithm used in Myriadcoin targets a block generation time of 2.5 minutes. This design allows a block to be found, on an average, every 30 seconds across the five algorithms. A significant feature of Myriadcoin is its accommodation for existing CPU, GPU, and ASIC miners, enabling a wide array of hardware to be utilised for mining Myriadcoin.

Block Reward Halving and Difficulty Adjustment

Myriadcoin has a built-in inflation control mechanism where the block reward halves after 967,680 blocks. This mechanism aids in maintaining a steady and reduced inflation rate. Moreover, the difficulty level of mining is adjusted after each block, contributing to a dynamic and adaptable mining environment.

Launch of Myriadcoin

Myriadcoin, with its innovative and unique approach to crypto mining, was launched on the 23rd of February 2014. Its unique approach has set it apart in the cryptocurrency domain and has carved a niche for itself in the landscape.