As those who caught the 555th episode of his show on RT will know, Max Keiser is about to launch a new altcoin. The official launch of Maxcoin will be this Wednesay (the 5th) at 19:30 GMT.
Maxcoin will employ SHA-3 hashing, known as Keccak (“ketch-ack”). As no GPU mining software and certainly no ASIC hardware is currently configured for SHA-3, MAX will hit the scene as a CPU-minable coin. If MAX is successful, it probably won’t take long for someone to figure out the implementation of GPU mining.
Difficulty retargeting via Kimoto Gravity Well will limit pool-hopping and botnet exploitation via slaved CPUs.
MAX will be limited to 250 million full coins, with a 30 second block time and an initial reward of 96 coins.
The developers seem intent on having a fair launch with no pre-mine. Measures have also been taken to constrain insta-mining.
Wallets for major OSs, exchange listing (on Coins-e and Bittylicious) and a no-fee mining pools should be available from launch. Other related services like faucets, block explorers, smartphone wallets etc. will be available either on launch or shortly thereafter.
Given the above and Max Keiser’s involvement, I consider this a promising altcoin. It looks like the launch is being done right. Keiser says that his show reaches 20 million viewers, so MAX will certainly gain a major marketing advantage over competing alts.
If you’d like to get in on Maxcoin, you’ll be able to wallet-mine it solo or in a pool as soon as it’s released. Follow @maxcoinproject on Twitter for further instructions. Apparently there’ll be an introductory guide released for those new to mining.
It’s also possible to mine CPU coins through Microsoft’s cloud servers, which currently offer a free trial. CryptoCoinsNews has previously covered cloud mining Primecoin via Digital Ocean in detail. Mining Maxcoin will on Digital Ocean should be at least as profitable as Primecoin.
And the process for mining Maxcoin on Windows Azure will be very similiar, with the advantage that Azure currently offer a free trial for 1-month / $200 worth of processing. You should be able to get about 80 kh/s if you enable all 20 cores.
Note that you’ll need a credit card to sign up for this. Multiple accounts (at least more than 2, from what I’ve read) will all get banned.
After signup, consult this guide to get setup with your Linux virtual machine. Opt for two 8-core Ubuntu 13.10 instances and one 4 core to get the max of 20.
Further details, inclduing the strings you’ll need to enter to install the necessary software on your cloud server, should all be made available when Maxcoin releases.
Last modified (UTC): February 3, 2014 19:34