Magi XMG - unique M7Mv2 PoS-II PoW next generation currency for people everywhere!
Coin Magi (XMG) is an online payment system, enabling instant payments to anyone in the world without needing an intermediary. With Coin Magi, anyone in the world can issue digital coins through their personal computers and a software-based minting process. Coin Magi removes the competitive nature of minting and offers an even playing field for anyone looking to issue currencies without expensive equipment. Coin Magi distinguishes itself from other counter parties by its fairness, cost effective and energy efficiency in maintaining the operation of the system.
PROOF OF WORK – POW
M7M (v2) hash function – only CPU mining
Iterative sequential algorithm and numerical computation operating through GMP floating points to disable parallel implementation
Block time: 3 minutes
MagiQuantumWave (MQW) difficulty adjustment per block
A new difficulty dependent block rewarding system to disable large mining farms.
PROOF OF STAKE II – POS-II
New staking mechanism PoS-II
Transaction dependent coin age; minimum coin age: 2 hours
Maximum coin age : see following explanation
Network weight dependent interest rate, maximum 5%;
Block time: 1.5 minutes;
Block hash: SHA256;
Reddit : https://www.reddit.com/r/coinmagi
Freenode IRC: #magi
Email: [email protected]
MagiPay - Standalone Payment Gateway for Coin Magi
Magi 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. Mine Magi with your computer.
Services & Merchants
Rig rentals: https://www.miningrigrentals.com/rigs/m7m/
Blueprint Enhancement Service : https://sites.google.com/site/blueprintenhancementservice/
Pexpeppers : https://pexpeppers.com/
Bitscoinshop : http://bitscoinshop.com.br/en/
Cloud Staking: https://staisybit.com/
Games & Videos
Jackpot lottery: http://lotto.ddns.net/magilotto
Blackjack & Pirateslots https://www.octoplay.net/?9GBaI2uhYN0zGCpp8kPa
The Fruits Clan: http://thefruitsclan.nl/index.php?lang=en
Coin Magi xmg Release m-wallet-v1.3.0rc
Build your MagiCoin XMG Wallet
tested at pi2
sudo apt-get update
sudo apt-get upgrade
sudo apt-get install -y gcc-4.9 g++-4.9
sudo apt-get install -y libgmp-dev libcurl4-openssl-dev libjansson-dev git
sudo apt-get install -y libdb5.3-dev libdb5.3++-dev
sudo apt-get install -y libboost-all-dev
sudo apt-get install -y libqrencode-dev
sudo apt-get install -y libminiupnpc-dev libminiupnpc
for v1.3.0-RC :
git remote add -t $BRANCH -f origin https://github.com/magi-projec...
git checkout $BRANCH
Now edit your makefile.unix
goto line 108 :
and replace it with :
xCXXFLAGS+=-Ofast -mcpu=cortex-a7 -mfpu=neon-vfpv4 -mfloat-abi=hard
now build magid with :
make -f makefile.unix xCPUARCH=armv7l
m-wallet version 1.3.1 released
Qt-Wallet and Daemon:
* Starting from v1.3.1, we provide official support of building packages for FreeBSD; both Qt wallet and daemon are available. Supports to other platforms may also occur in future release;
* Struggled with a working Qt wallet for Windows XP (daemon works); this effort is yet to be done. Since Windows XP is no longer supported by Microsoft, I'm considering to drop off the compilation; please let me if one does need a Qt wallet for Windows XP.
This is a major release designed to improve the overall performance of the wallet. Upgrading to this version is strongly recommended. All parties upgrading from versions prior to v1.3.0 should resynchronize the complete block chain from the beginning.
A copy of block chain available:http://coinmagi.org/bin/block-...
- Support of building Qt wallet and daemon on FreeBSD;
- Added "Mint" menu on the Qt wallet;
- Added "About" menu on the Qt wallet;
- Fixed price update for all of OS including Windows;
- Corrected the total amount on the transaction page;
- Overall improvement of the Qt wallet appearance;
- Removed pre-release message from the status bar;
- Redesigned the icon set; new logo available here:http://coinmagi.org/files/logo/v1;http://coinmagi.org/files/logo/v2;
(January 29, 2017)
This release also contains the prior changes associated with v1.3.0rc1 which wasn't made publicly.
- Changed database for storing transaction and block indices from Berkeley DB to LevelDB;
- Enabled block hash storing in storage and loaded directly from disk;
- Fixed "Checkpoint is too old" warning;
- PoS stake splitting and combining features, which can be set by stakesplitthreshold=VALUE and stakecombinethreshold VALUE in magi.conf, or by RPC commands: setstakesplitthreshold and setstakecombinethreshold; RPC commands getstakesplitthreshold and getstakecombinethreshold to show their current values;
- Added price information on Qt overviewpage;
- Qt wallet logo change and GUI improvements;
- Merge pull request of adding total balance in "Transactions" page by lightsplasher;
- Merge pull request of version check updates by feldenthorne; fixed automatic version check including test/rc versions.
(June 22, 2016)
* Since v1.3.1 migrates to leveldb for block index storing, for upgrading from a version before v1.3 should reset the local block-chain;
* For users on Windows, we provide a convenient way to use an installer for upgrading wallet and migrating to the latest block chain; this is strongly recommended;
* Additional note to the stake splitting & combing for information; https://github.com/magi-projec...
// The original design prevents stakes having the same parent transaction from combining
// which somehow reads as encouraging splitting (improve security);
// This mechanism is to be disabled in Magi since combining won't cause security concern
/* Splitting is only enforced at wallet, not by PoS protocol as well as consensus over network.
* Original PPCoin design encourages splitting as per "Lower coinstake combine threshold to
* improve security", which can be understood by the fact that in general PoS, with a large
* number of coins in stake comes greater chance of (PoS) mining blocks. This is not going to
* happen in Magi. Also, hardening nStakeCombineThreshold is impractical since an advanced user
* can easilly make a change to that and rebuild a wallet. The change to nStakeCombineThreshold
* should be available externally, e.g., RPC command, magi.conf configuration file.
** Magi, for optimum staking, nStakeCombineThreshold should be used in combination with nStakeSplitThreshold.*/
nStakeCombineThreshold along with nStakeSplitThreshold should be utilized for best results. The optimum threshold is neither a random number nor as large as possible; it's in accordance with the magi's PoS (mPoS) protocol.
- In general:
1) Backup wallet.dat;
2) Delete everything under the Magi or .magi folder except wallet.dat;
3) Download block chain from herehttp://coinmagi.org/bin/block-... and unzip the file;
4) Put all of the contents under the folder m-blockchain into Magi or .magi;
5) Launch the new wallet.
1) Backup wallet.dat;
2) Launch the installer;
3) Choose the option you want to migrate the block-chain; the installer will always move the original Magi folder to something like Magi-BACKUP-*;
4) Follow on-screen prompts to install.
This post is deleted!
Magi (XMG) New Wallet version v1.4.0Magi updated the wallet version to v1.4 to enable a fix to the splitting. I'll give more description regarding the fix. There is splitting around block 1443980; it wasn't confirmed that is necessary a fork from pool, as the inconsistent block is a PoS block based on a comparison of two chains available. Given that, the fix is to start from that point. Procedure to startup on a clean chain:
1) Download the wallet v1.4.0 (will push other versions into that):
2) Backup wallet.dat;
3) The prior blockdata must be removed before launching the new wallet:
Remove everything under the Magi or .magi folder except for wallet.dat:
4) If you wish to redownload blockchain from scratch, skip to 5)
5) Download block chain from:
and unzip the file;
6) Place all of the contents under "m-blockchain" into Magi or .magi;
7) Launch the new wallet.
I'll update relevant docs and web once I get a chance back on the stuffs, and some more descriptions.
Coin Magi (xmg) Release m-wallet-v18.104.22.168
This release is to fix recent blockchain forks.
Coin Magi (xmg) Release m-wallet v1.4.3
This release is a temporary fix to the current blockchain issue in MAGI; this is done by taking 22.214.171.124 as a trust node. Following setting in magi.conf is highly recommended. Refer to "http://m-core.org/blog/" for news and final fix to the issue.
Coin Magi (xmg) Release m-wallet v126.96.36.199
- Fix sync issue
- Protocol version 71062
Coin Magi (xmg) Release m-wallet-v188.8.131.52
This release solves the recent blockchain forking issue, including the follow changes:
Synchronizing checkpoint & master server introduced; this is to remove constantly checking on the misbehaving and IP banning, along with the error "block with too little proof-of-stake or proof-of-work". The checkpoint master server and keys remain to be used from now on; they are likely to be removed in the future;
Implemented a block generation rule: PoW / PoS blocks are mined / minted by following a pattern: 1) at least two PoS blocks minted between two consecutive PoW blocks, or PoW blocks generated every 10 minutes; 2) at least one PoW block is found in five consecutive PoS blocks, or PoS blocks generated every 3 minutes;
Difficulty adjustment will be changed to four-block exponential moving average. When there is violation in aforementioned PoW / PoS generation rule, the difficulty remains unchanged.
The following hard forks are scheduled to implement the changes:
- block 1481500: PoW / PoS block generation rule, and also exit point of the maintenance mode;
- block 1482000: difficulty adjustment algorithm switch.
Coin Magi (xmg) Release m-wallet v184.108.40.206
This release schedules a hard fork at block #1606950 as a solution to the current mining issue that miners cannot mine blocks. v220.127.116.11 is compatible with the prior block chain.
The PoW / PoS block generation rule is disabled;
Difficulty adjustment algo switches back to MQW at #1606948;
Block drift time is limited within 5 min;
Remove IRC and add DNS seeds.
Quick startup I (without touching the block-chain):
- Backup wallet.dat;
- Launch the new wallet.
Quick startup II (replacing the block-chain):
- Backup wallet.dat;
- Download block-chain data from here: http://m-core.org/bin/block-chain;
- Delete all of the contents under the .magi (unix-like system) or Magi (OS X or Windows) folder, except for wallet.dat and magi.conf;
- Unzip the file and copy the folders under "m-block-chain" into the .magi (unix-like system) or Magi (OS X or Windows) folder;
- Launch the new wallet.