- November 27, 2021
- Posted by: Strayacoin
- Category: Uncategorized
The Strayacoin development team successfully deployed a new mining algorithm to our mainnet today. At block 808600 on Saturday morning 27th November 830am Australian Eastern Standard Time (AEST), a fork in the timeline was created, with upgraded full node wallets mining a new algorithm released by our team called ScryptNAH. If you have an older wallet, you need to upgrade it to connect to our network !
All checks have now been completed for the Windows, Ubuntu Linux, Android free and POS wallets, with Tradogre and Satodax exchanges and two of our block explorers also having completed their upgrades.
What is ScryptNAH. In 2018, the Strayacoin development team tested a number of improved implementations to stabilize block production and ensure distributed mining. A full report was produced, and at the time, we decided to implement Dark Gravity Wave Difficulty Adjustment, but not ScryptNAH. You can read in detail about ScryptNAH in section 3.1 of the report. https://www.strayacoin.org/wp-content/uploads/2018/05/Strayacoin_Mainnet_Upgrade_Tests_R1.1.pdf …but briefly, it is a bitwise inversion of the scrypt output…ie scryptNAH…NAH means logical NOT, and NAH is also the denomination of our coin. Clever..eh.
Being a bitwise inversion, ScryptNAH provides a comparable random hash to that of scrypt, and is currently not mine-able with ASIC’s since there are no chips which will do this hash function. So this offers a unique opportunity for CPU miners (and in time a GPU implementation) to start solving some blocks and helping us to distribute the network hashpower to a broad base of coin enthusiasts. It also removes the current mining pools off our network, some of who were switching their mining between scrypt coins, causing great variance in the new block generation times, since they have access to vast amounts of scrypt ASIC miners, and direct it wherever they choose, gaming our coin for profitability. This is not what we want. Now with ScryptNAH, we expect the result will be a more stable and decentralised coin.
A great deal of experience is building in our coin development team, having gone through two successful mainnet forks. Strayacoin was released in 2018 with the purpose of building local Australian capability in blockchain development. There was no pre-mining of coins – every coin has been earnt by a miner solving the block hash function. The mining reward currently is 6.25NAH per block, with 22Million coins already mined. With a maximum supply of 24.8Million, we will have a scarce supply, with mining rewards topped up with transaction fees to ensure blocks keep getting mined in a decentralized way long into the future.
Come with us on the journey..contribute what you can by joining our Discord channel, there is plenty of scope whatever skills you have. There are no paid employees, just crypto enthusiasts giving their time to work on something unique. We do have developments that can only be found on our coin, for example, our Point of Sale (POS) System which can be used by businesses, with the registration fees payable in NAH.