IMPORTANT In version 2.0 All coinbase rewards will be set to 1 SATOSHI from block #545000 To continue staking after block 545000 it is recommended to swap your MAG to the MAG stellar anchor.
Since 2017, our primary focus has been on promoting the usage of MAG, an open source cryptocurrency, for real-world use cases while providing truly decentralized solutions to our users.
To achieve this, we have built a suite of tools (Magnet Merchant Tools) for merchants to easily and securely transact without any middleman. These tools provide merchants with automated invoicing and seamless integration to the most common online shopping platforms (e.g. WooCommerce). Get setup with a merchant account in no time. It is free, peer-to-peer and secure.
We also strongly believe that the incentivized two-tier model brought about by masternodes is the best way to create the commitment and retention needed for perennial growth. In addition to creating a robust and highly serviceable network, we see the masternode ecosystem as a means to long-term investment. For this purpose, we have developed a full-featured masternode management app which is currently available on Google Play.
| Algo | X11 | |
| Block Time | 60 Seconds | |
| Difficulty Retargeting | Every Block | |
| Max Coin Supply (PoW Phase) | 37,353,600 MAG | Completed |
| Max Coin Supply (PoS Phase) | Infinite | Ongoing |
| Premine | 250 000 MAG* |
*250,000 MAG Premine was used to setup the initial masternodes on the network. The network now runs 30 masternodes in total.
The swap reserve of 37,354,100 MAG was generated during first 211 blocks and mined through Proof-of-Work.
| Block Height | Coinbase |
|---|---|
| 1-10 | 3,733,400 |
| 11-211 | 100 |
For a detailed breakdown and 121 months projection you can visit this link.
