About Magi Blockchain
A Peer-to-Peer Digital Currency Built for Sustainability
What is Magi (XMG)?
Magi a digital payment solution that emphasizes sustainability, fairness, and energy efficiency in cryptocurrency mining and transactions. It is decentralized and operates continuously without downtime or the need for interference from intermediaries, authorities, or censorship. People can freely make payments using Magi to anyone in the world. Anyone can issue Magi coins through their personal devices by means of software-based mining or minting processes.
Magi is implemented using both proof-of-work and proof-of-stake protocols. It aims to eliminate the competitive nature of mining and places particular emphasis on fairness, cost-effectiveness, and energy efficiency. when issuing coins and maintaining the public ledger and blockchain system.
Vision
Magi, firstly as a cryptocurrency, emphasizes the decentralization nature, which is manifested in part as implementation on its own revisions of the proof-of-work and proof-of-stake protocols. Magi is an open source software with no reservation of mining rewards for any parties. Decentralization calls on rejection of huge computational power for mining, immediately benefiting energy savings. Decentralization also calls on mining availability to general users.
Sustainability
Focus on energy efficiency and environmental responsibility in all network operations.
Decentralization
No central authority or intermediary controls the network or transactions.
Fairness
Equal opportunity for all participants without favoring large mining operations.
Accessibility
Available worldwide to anyone with internet access, no restrictions.
Technology Overview
Understanding the innovative protocols that power Magi
Energy Efficiency
Magi focuses on global energy savings in maintaining its blockchain system. It aims to enable worldwide mining using, for example, mobile devices. Magi's PoW protocol, with difficulty-dependent mining rewards, places a limit on the total network hashrate, making excessive computational power for mining unnecessary.
Read More about Energy EfficiencyEnvironmental Impact
Magi's Proof-of-Work (mPoW)
Magi's proof-of-work (mPoW) protocol incorporates a network-dependent reward system, designed using an attraction-repulsion model. mPoW effectively regulates Magi's network and maintains it within a controlled scale. Magi continues to optimize the protocol to fully achieve its intended goals.
- Network-dependent rewards
- Attraction-repulsion model
- Controlled network scale
mPoW Features
Magi's Proof-of-Stake (mPoS)
Magi's Proof-of-Stake (mPoS) protocol introduces novel revisions to the generic PoS by applying conditional mining power (i.e., coin age). Accumulating a large number of coins or relying on extended offline staking time no longer provides disproportionate mining power in Magi, resulting in both enhanced security and improved energy efficiency.
- Conditional mining power
- Enhanced security model
- Energy-efficient staking
mPoS Benefits
Development
Magi is engaged in active development with a focus on continuous improvement.
Current Focus
Optimize protocols and enhance network efficiency while upholding decentralization principles.
Mobile Focus
Expand mobile mining capabilities and improve the user experience on mobile devices.
Global Adoption
Build partnerships and infrastructure to support worldwide accessibility and adoption.
Join the Sustainable Future
Be part of the energy-efficient cryptocurrency revolution