What is Myriad (XMY)?
Future of XMY Cryptocurrency and know how to buy XMY

#1 - What is Myriad?

Myriad is a unique cryptocurrency working via a group of algorithms. Unlike other conventional software that run on a single algorithm at one time, Myriad uses 5 algorithms simultaneously. These algorithms work fast enough to process transactions in a minute.

Myriad: The Basics

  1. Myriad is an altcoin distinct from all the other cryptos in the market. Other currencies use a single hashing technology whereas myriad uses what it calls Multi-Algo Technology.
  2. This unique digitized currency was launched on February 4, 2014. However, the team had worked tirelessly on the algorithms before the system was released for the public use.
  3. Myriad works on different technologies integrated to make one software. The technologies namely SHA256d, Scrypt, MyrGroestl, Skein, and Yescrypt are used as the five main algorithms.

 

#2 - What are the Benefits of Myriad?

Myriad Development

  1. The five algorithms are given the target of 2.5 minutes each or the algorithms are allowed 60 seconds each. All the algorithms work concurrently to achieve this target.
  2. These algorithms that are being used together have unique properties which are used for XMY Mining and other different purposes.
  3. The algorithm works in a very simple manner. Each algorithm is programmed in such a way that it will solve the block assigned to it and then, add that block to the blockchain. Another block will be generated subsequently. Different algorithms can solve different types of blocks depending on their abilities. This prevents one algorithm overpowering other algorithms.

Myriad Technology

  1. Myriad technology runs on 5 different algorithms. All these algorithms have a specific program on which they run. These programs have an ability to solve the blocks and add them to the blockchain. Everything is done in merely a minute.
  2. These algorithms are developed in such a way that they work simultaneously to achieve the transaction in the least time possible. Moreover, they do not overpower the other algorithm while it is in use.
  3. The integration of these 5 algorithms in Myriad Cryptocurrency, which is also known as the multiple hashing technology, is the first of its kind. It cannot be found in any other cryptocurrencies in the market.

Features:

  1. Innovative Technology: myriad is the first in the market to run 5 algorithms in a single program that too, simultaneously. These programs are given different abilities to make sure there no dominance. This prevents crashing of the software.
  2. Faster Transactions: When Bitcoin was introduced in the year 2009, the approximate time it took for a transaction to happen was almost 20 minutes. This has now been brought down to 10. However, on myriad, transactions take as low as 30 seconds to process.
  3. Merge Mining: A unique technology which allows work on a parent coin such as BTC to locate a block on the Myriad blockchain. This technology is known as Merge Mining or AuxPow.

 

#3 - How to Buy and Store Myriad?

How to buy Myriad / How to buy Myriad

Myriads can be purchased using the platforms that are recommended on the official website. Bittrex, Cryptopia, Litebit and NLEXCH are the most commonly used third-party exchange.

While we talk about the exchange of the cryptocurrency, it is important to remember CoinSwitch. CoinSwitch is the largest cryptocurrency conversion platform used by the crypto traders for the exchange of their cryptocurrency holdings.

  1. Cryptocurrency can be exchanged using CoinSwitch at no extra cost or hidden charges. There are 45,000 and more cryptocurrency pairs that are available on the website. These pairs can be exchanged for the XMY coins very easily.
  2. There are 300+ tokens available on the website for the users to exchange their cryptocurrencies. The exchange is quick and does not require much knowledge of the computer and the system.

Myriad Storage

Myriad can be stored using different methods which are

accessible to everyone. There are different applications available for download on computers running on variety of platforms. You can also download digital wallets absolutely free. The wallets are supported on the following operating systems.

  • Android
  • Windows
  • MacOS
  • Linux

 

#4 - What is the future of Myriad?

  1. The cryptocurrency works on the Proof of Work feature, which is how miners in the cryptocurrency markets like it.
  2. Its developers have claimed that it is one of the safest and the most secure cryptocurrencies available for mining. Additionally, it delivers faster transactions than any other cryptocurrencies.
  3. Currently, the valuation of myriad is $0.0265. It is predicted to shoot up to the value as high as $0.0780 in the coming year by analysts like Walletinvestor.

Also Read: Complete Analysis of Myriad | Live Myriad (XMY) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.0040

0.004109

0.003541

0.003744

24,509

6,484,480

June 01, 2018

0.005839

0.005989

0.005704

0.005876

20,246

9,215,840

May 01, 2018

0.00905

0.009699

0.008391

0.009543

102,640

14,225,840

Apr 01, 2018

0.004511

0.004710

0.004521

0.004550

36,019

7,054,750

Dec 01, 2017

0.004189

0.004362

0.003728

0.004253

121,574

6,423,570

Oct 01, 2017

0.002607

0.002661

0.002474

0.002551

38,222

3,955,040

 

#5 - How is Myriad different from other cryptocurrencies?

Myriad is one of the best software when looked at from a perspective of anonymity and security. There are unique features which make it different than others.

  1. Myriad maybe one of the most secure cryptocurrencies available. The multiple algorithm systems make compromising its security extremely difficult.
  2. The company had followed a policy of fair distribution. There were no ICOs that were laid out.
  3. The system is miner-friendly. You need not have any in-depth technical knowledge to mine the XMY coins. It can be easily done with the help of a GPU using Skein. It can also be mined with CPU using Qubit.

 

#6 - Should you Invest in Myriad?

  1. Many people are confused about whether to invest in Myriad or not. The technology developed by the team is unmatched. There are no cryptocurrencies in the market that run on the multiple hashing system.
  2. The five algorithms that are being used to run the software enhance the security to a new level. It becomes very difficult for the system to get compromised.
  3. Despite being traded in the crypto market for more than 4 years now, the team hasn’t put out a whitepaper yet. Investors and analysts therefore don’t have much data on the coin.
  4. Speaking of teams, there is no information on the team behind Myriad as well. All of these factors add to an unpredictable and shady vibe about the cryptocurrency.
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