Re: [ANN] [XDNA]Revolution in mining|POW|HEX algo|BitGun|T.N.T. [XDNA][ANN]
⭐ Merited by bones261 (2)
Full discretion can be found here: https://xdna.io/bitgun
In short, the higher the hashrate the more coins are generate in every block, increasing the reward for Masternode holders and helping the GPU miners keep a steady reward. Right now the price has fallen to record lows and miners have left, therefore the BitGun level is 1 and the reward per block are the lowest possible, which will slowly help stabilize the price.
I understand that this is a kind of dynamic algorithm that regulates the amount of compensation for miners and masternodes. Correctly?In short, the higher the hashrate the more coins are generate in every block, increasing the reward for Masternode holders and helping the GPU miners keep a steady reward. Right now the price has fallen to record lows and miners have left, therefore the BitGun level is 1 and the reward per block are the lowest possible, which will slowly help stabilize the price.
Correct! They've also provided a comparison of their algorithm in comparison with the classic mining system.
Can anyone specifically explain how this coin differs from other forks Dash?
For miners
- DASH requires ASIC hardware which is expensive, puts the entry point for new miners high and it's a never ending race of newer and faster ASICs from which only the manufacturers benefit. XDNA has created an algorithm which benefits GPUs a lot, even if FGPA were to be programmed for HEX, in theory their hashrate wouldn't be that much higher than GPUs
- As stated above, an algorithm called BitGun ensures that there's a more steady reward for miners unlike DASH or any other mine-able coin
For investors
- Dash requires 1000DASH in order to obtain a Masternode, that's equal to 163.250! In XDNA there are three Masternode levels which require either 1000, 3000 or 5000 XDNA. This makes it attractive to more people, and more people means more potential investors.
- When the price is low (like now) the reduced interest from miners pushes the BitGun level lower, resulting in less coin production which is resulting in lower emission which is resulting in lower offer and higher demand which is resulting in higher prices. Dash doesn't offer a similar function.
- A fork was voted and will happen on XDNA in 1-2 months which will reduce the coin emission by 10% every month until the end of PoW phase. After than there'll be a PoS reward plan. DASH's total coin output is reduced by 7% per year until around the year 2150 when new coins will stop being minted and people will be rewarded from Tx fees.
Other differences
- DASH's block rewards are split 45% for miners, 45% for masternodes, 10% for a budget wallet for future improvements (not sure how that works and who controls this). XDNA's distribution goes like that: 70% for miners, 27% for Masternodes (3%/9%/15% depending on the MN lvl), 2% for the charity fund, 1% for the devs
- XDNA has a charity fund and will open a website which will allow people to request help. Not sure what uses DASH have.