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Myriad Coin

"A Coin For Everyone"

To start us off on our maiden voyage of crypto bloggin’ we are featuring Myriad Coin. We will be talking about its strengths, opportunities for growth and more. We think its a great potential investment for the HODL! By the end of this post we think you might feel the same.

Contributors: Mark Needham and Adam Hirsch

Disclaimer 

We score tough. We do so out of 30 possible points. For a coin to score this high it needs to be taking over the world. It should be excepted at all major retailers, transferred at the speed of light and cost you next to nothing to do so. If it has a different utility like Ethereum, it needs to be doing what ethereum is doing. Please consider this as you read our review. 

Potential for Growth
Secure
Real Value
Innovative Technology

How is it Different?

Multi-Algo. With 5 different mining algorithms, it is the first to do so. This increases security in a multitude of ways and additionally resist pump and dumps and %51 attacks by nature of its mining ecosystem.

  1. Marketing, Branding and Community. - Great looking modern logo. A slogan that "Everyone" can get behind, and some cool perks for being a part of their community on Twitter and Reddit. Like awesome stickers. 6/10
  2. Tech and Utility- The multi-algo is understated and underappreciated in the cryptocommunity. They are already leading the pack with this technology and there is even talk of a sixth algorithm in the future and a potential PoS chain. There are developers though they lack organization and a cohesive vision for how the tech will change.  7/10
  3. Adoption - They are focused on adoption of users and getting on exchanges. Looking for merchants is a long term goal for them. Their main objective is to become a fully functioning currency first. Adoption by merchants is a pillar of crypto being accepted. But even more important is to have the foundation necessary to handle the load. They are learning from bitcoin's failures. 6/10
  4. Criticisms - They are 'community focused' and have a loose 'core' of developers and organizers. But the line between decentralization and disorganization in the cryptoworld is a blurry one. It is one they may consider making sure they have well defined. They would additionally do well to diversify their twiiter account more, taking some tips from their multi-algo cousin Digibyte to present a more professional account. 
  5. Score- Our curent scoring system is out of 30 points which analyzes Maketing, Branding, Community, Technology, Utility and Adoption. We scored Myriad Coin at 19/30. Check out the full story below for more details as to why we scored it this way.

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Full Story

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How it’s Different

Myriad Coin is a cryptocurrency flying under the radar in the 280 range for total market cap, according to coinmarketcap.com. It uses what is called a multi-algo system, using 5 different algorithms. Myriad coin was the first crypto to do this and believes that this strategy will have a huge impact on the stability and fairness of the coin.

Why is that? Because one of the major issues in the crypto world is pump and dumps caused by large sells by whales with large sums of coin. This may be done for ‘political’ reasons within the developer communities(see the Bitcoin vs. Bitcoin Cash), to make a quick buck,leveraging of power within mining communities and other nefarious motivations.

With a 5 algo crypto, the community is even more diversified. This system tends to cause a larger distribution of the coin and mining power to different communities with different views and opinions. It is less likely that all miners from these different pools will join together to leverage power against others. A reduction in the risk of 51% attacks is another positive side effect.  

Marketing, Bradning and Community 

 Its logo has a great modern design. and a memorable slogan. “A coin for everyone” which is tied to the word myriad meaning “a countless or extremely great number.” attesting to its desire to reach as many people as they can. Having a strong brand is very important and its great that this community understands that.



They additionally have a very strong community that is quick and helpful in their responses on reddit and twitter. They give free stickers to their followers. Great quality for bumbers on cars, laptops and other people's foreheads. But be patient they are in high demand.

Technology and Utility 

As for tech, there multi-algo is understated in the crypto community. Two of the biggest problems in the cryptocurrency world is centralized power and security which sways the value of currencies, reduces stability and gives a bad reputation.

If an algorithm ends up being damaged down the road, Myriad coin has four back ups. This gives it resiliency and technical stamina for the future.

It additionally increases security by diversifying its mining through the different systems. In order for large scale attacks to occur, you need to be operating on multiple algoritms. Put simply, its more secure and more adaptable to changes in the blockchain ecosystem.

Myriad is still in its infant stages in comparison to the larger market, but they have a solid vision for the future as a coin of mass adoption.

They are dedicated to a proof of work approach with a potential for a proof of stake chain in the future. They reference the issues currently had with larger cryptocurrencies such as bitcoin for their motivation for how they evolve Myriad Coin. They want to focus on scaling and building a community for 2018.

Multi algo is still relatively new to the world of crypto, and regardless of its potential utility, it is not a high priority to the overall community. Maybe because they just don’t know what’s good for them! Maybe because there isn't a desire to adopt it...yet.

With Digitbyte (Myriad's forked child) accelerating up the charts as a multi algo, Myriad Coin has some obstacles to overcome as being THE multi algo for the people. With all that said Myriad coin is one of the most secure and diversified coins on the market with a relatively low market cap. (1.5 B Circulating/2.0 B Max)

Adoption

When I asked the community about their views on adoption, they said they were focused on adoption with their potential users and more exchanges. They believed that merchant adoption was not the key to success at this stage in their development. Reddit user Myriad_Angel told us that, adoption in the early stages is overrated when one considers the importance of making a cryptocurrency fully functional. They cited that bitcoin is currently losing merchants and no one is complaining. The concerns even at the top of the blockchain have little to do with the currencies being used, well, as currencies. At least not yet. 

Strengths

Great look
Innovative tech
Responsive community 

Areas of Opportunity 

Competition in their multi algo niche

Focused on being a fully functional currency so they can begin adoption phase.

We would recommend a quick yet detailed video on the website in the future to improve on the one they currently have.

Final Score (We're Tough)

Marketing, Branding and Community 6/10
Technology and Utility 7/10
Adoption 6/10

Final Score (If you couldn't count) 19/30

Community Contacts

Reddit:https://www.reddit.com/r/myriadcoin/
Twitter: @myriadcoin
Website: https://myriadcoin.org/