What is Magnet?

"Magnet is both community-oriented and still strongly coupled with our vision of network scalability, allowing us to grow and withstand the intensity and speed of all blockchain technology.

By keeping the tenets of a decentralized network and focusing the community directives we can couple the best of both world in cryptocurrency with the utilization of masternodes. In our first year, a lot of attention will be given to the Magnet Wallet, specifically focusing on the user experience (UX) creating a wallet that is overall smoother and richer in features.

Masternode owners will have access to tutorials, tools and documentation that bring clarity to users on all levels of experience. The final part of the initial wallet and masternode creation will be the Magnet wallet (MW2.0) with features that make developing on the Magnetwork a possibility for other developers."

-Magnetwork.io
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General

TICKER SYMBOLS
MAG
AGE
2 years old (October 22, 2017)
CURRENT PRICE
$0.013078
Updated 6 minutes ago via cryptocompare.com
CHEDDUR ALL TIME HIGH
$0.398832
Last year
CIRCULATING SUPPLY
38,198,594.83 coins
Updated 3 minutes ago via coingecko.com
MARKET CAP
$499,566
Updated 2 minutes ago

Technical

BLOCKCHAIN / LEDGER
Uses own
MONETARY POLICY
Maximum Supply (144,000,000 coins)
PRE-MINED / RESERVED
Yes (250,000 coins)
CONSENSUS MECHANISM
Proof of Work & Proof of Stake (Hybrid)
MINEABLE / STAKEABLE
Yes
AVERAGE CONFIRMATION TIME
1m 30s
CURRENT BLOCK REWARD
200 coins
HASHING ALGORITHM
X11
DIFFICULTY ADJUSTMENT
Every block (~2 minutes)

Categories

Payments

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