Myriadcoin (MYR)

 

What is Myriadcoin (MYR)?

Myriadcoin MYR was launched in February 2014 by 8bitcoder, embellished by Zetacoin. It was the first cryptocurrency to use five security algorithms to increase security and broaden the base of people who could use it – SHA256d and Scrypt for ASIC miners, Skein and Myr-Groestl for GPU miners, and Qubit for GPU and CPU miners. Qubit has since been replaced by Yescrypt. Huntercoin, launched at the end of 2013, was actually the first coin to use multiple PoW algorithms (SHA256d and Scrypt), but the focus was not on mining, but rather on a blockchain-based game that the vast majority of new coins produced.

Myriad is mentioned in “Mastering Bitcoin”, first edition, 2014 by Andreas Antonopoulos.

Myriad has produced several spin-offs, the first of which was Saffroncoin, which also used five PoW algorithms. Digitalcoin and Digibyte are both hard-forked to use three and five PoW algorithms respectively. Unitus is another five-algo PoW coin that shares multiple PoW algos with Myriad, and allows users to merge on all five of its algos. Auroracoin and Verge have also announced plans to forks for multi-algo.

In August 2015, Myriad made hard fire to merge on its SHA256d and Scrypt algorithms in an effort to improve security and achieve a stable hashrate on those two algorithms. At this time, the target block time for each algorithm was also changed to five minutes (previously 2.5 minutes) to achieve a total block target time of 1 minute (previously 30 seconds); This change will extend the emission curve by a factor of 2x to around 20 years.

In August 2016, in block 1764000, Myriad used mining consensus to replace the Qubit algorithm with the Yescrypt algorithm to maintain mine decentralization. Myriad became the first cryptocurrency to use my consensus to change a mine algorithm.

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