70% of each block is allocated to MasterNode holders.
Magna will always be considered a community driven coin.
A large weighting on the future of the coin will be placed with decentralised masternode governance.
This will enable node holders to vote on issues surrounding Magna including, but not limited to: the roadmap, marketing, budgetary allocations and technical aspects of the coin.
The latest roadmap will include plans to integrate MGNX into our interoperable governance system.
The option to transact privately on MGNX via Zero Knowledge Proofs, which allows coins to be transferred from sender to receiver without revealing any information about the transaction. This is done through Zerocash Protocol and is made possible by using the Jumblr feature for a small transaction fee (0.3%), via the desktop Agama wallet.
The ability to swap MGN and MGNX simultaneously between 2 parties using the Komodo Barter DEX.
Listing to the BlockNet DEX has given the opportunity to bridge interoperability by building DAPPs that share data between multiple chains.
The -ac_cc parameter has been set to 2, giving MGNX the ability to interact with other asset chains using smart contracts.
Premine is 7% for a total of 2,000,000 MGN which has been distributed as such:
| Information | Magna | MagnaX |
|---|---|---|
| Genesis Block Mined | November 22, 2017 | July 31, 2018 |
| Decimals | 8 | 8 |
| Block Time | 60 seconds | 60 seconds |
| Min.Transaction Fee | 0.001MGN | N/A |
| Consensus | PoS | PoS/PoW |
| Algorithm | Quark | Equihash |
| Block Maturity | 3 hours | 2 hours |
| PoS/MN Block Split | 70% / 30% | 90% / 10% |
| MasterNodes | Yes | No |
| MN Collateral | 10000 | 0 |