Magi (XMG)

Magi (XMG) is a decentralized peer-to-peer digital currency that offers a cost-effective and efficient digital payment solution. It operates constantly without downtime or reliance on intermediaries, authorities, or censorship. With the Magi, individuals can make payments to anyone worldwide freely. Users can also mint or mine Magi coins through their devices using software-based processes.

Magi focuses on removing the competitive nature of mining by prioritizing fairness, cost-effectiveness, and energy efficiency in coin issuance and maintaining the public ledger and blockchain system. As an open-source software, Magi ensures decentralization by rejecting the reservation of mining rewards for any party, including the team. The project aims to make mining available to general users while emphasizing energy savings.

The Magi project strongly emphasizes energy efficiency, aspiring to achieve global energy savings through its blockchain system. By implementing a proof-of-work protocol with mining rewards dependent on difficulty, Magi limits the total network hashrate, reducing the need for excessive computational power in mining. The proof-of-stake protocol introduces unique revisions, incorporating conditionally driven mining force based on coin age. This approach enhances security, fairness, and overall network health.