Myriad XMY to General Attention Currency XAC Exchange

Crypto Pair Details: XMY to XAC

Myriad XMY

Myriadcoin is the first coin to implement five different Proof-of-Work hashing alrogithm in the same coin, namely Scypt, SHA256D, Qubit, Skein and Groestl. This multiple hashing algorithm serves to make mining fairer and encourage even distribution. Each algorithm has the same chance of solving the next block and has its own independent difficulty while using the same difficulty adjustment method. Each algorithm aims for a block generation time of 2.5 minutes. Any existing CPU,GPU and ASIC miners can be used to mine Myriadcoin. Over the five algorithms, a block should be found on average every 30 seconds. Every 967680 blocks, the block reward halves in order to reduce inflation. Difficulty is adjusted after every block. Myriadcoin was launched on 23 February 2014.

General Attention Currency XAC

The 2016 economic report “On the Value of Virtual Currencies” commissioned by the Bank of Canada, found three contributing components dictating a cryptocurrency’s exchange rate: The actual use of virtual currency to execute real payments. The decision of forward-looking investors to buy virtual currency (thereby effectively regulating its supply). The elements that jointly drive future consumer adoption and merchant acceptance of virtual currency. XAC Attention Addresses Attention Addresses are linked to AMARK consumer data and have specific rules enforced by the XAC protocol. There are two key functions of attention addresses: XAC-LOCK XAC-Lock is a feature that encourages continued consumer engagement with AMARK. The XAC sent to Attention Addresses is initially locked and becomes available after a maturation period. The XAC attention awards paid to consumers continually matures into availability as new XAC is earned from ongoing attention marketing. This process encourages engagement with AMARK as attention wallets will rarely have a zero XAC balance, giving consumers a consistent flow of value to spend within the ecosystem. XAC-BURN XAC-Burn is enforced at the protocol level. All transfers to Attention Addresses require 5% of the XAC transferred to be burned. The XAC -Burn feature is designed to align interests between merchants and consumers in the AMARK ecosystem. Anytime merchants use the AMARK platform for marketing, they are supporting the value of the XAC currency as protocol rules enforces a 5% burn. As such, merchants are effectively scaling the supply of XAC to match the demand from the ecosystem. This supply-side scaling mechanism will offset new coins introduced through block rewards and pressure the price of XAC to an equilibrium reflective of demand from the ecosystem.

SOURCE: COINGECKO

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