Review on Magi by David Olayide
MAGI DIGITAL PAYMENT.
Talking about digital payment solutions, MAGI is basically decentralized and runs constantly without interruptions or downtime and or the interference of intermediary, authorities and censorship. By making use of this digital payment system, you can make transactions and payments using MAGI to anyone in the world freely. In the meantime, anyone can issue MAGI coins through their personal computers and a software-based minting process.
I noticed that the project is described as the first project to concentrate on the low cost in maintaining its block system. The MAGI project actually aims to achieve a fair, cost effective, and energy efficient mining system. It hopes to make mining available to everyone, and as uncomplicated and less stressful as possible so that digital coins can be mined without expensive equipment.
MAGI makes use of the proof-of-work and proof-of-stake protocols, mPoW and mPoS; mPoW and mPoS stand for MAGI’s proof-of-work and proof-of-stake, respectively.
The project is largely decentralized or in actuality, it aims to be. My own opinions about the project is to that I think it’s structure is properly designed and I think it can achieve just exactly what it wants to. Interestingly I learnt that MAGI (XMG) is an open source cryptocurrency and that means developers can view and use it’s source code.
MAGI has a lot of positive features. It is decentralized, cost effective, efficient and globally available. MAGI has a current supply of 10,503,538.6912499 XMG coins.
Pros
- MAGI utilizes the mPoW and mPoS algorithms
- Decentralized
- Very efficient simple mining system
- Globally available
Cons
- None that has caught my attention yet
