FAQ

why is MemoryCoin described as a CPU coin? *

The unique proof of work (POW) uses much more memory and is generally harder for graphic cards than the one of Bitcoin (SHA-256) or scrypt-coins. There are GPU mining clients, but the advantage over using a CPU is just a fraction of that of other coins.

what are the details behind the POW of MemoryCoin? *

The Proof of Work is a modified Momentum based algorithm. It has a small SHA512 component, and a large AES component – chips with AES-NI instruction sets will fare *much* better. Each hash requires 1GB of Memory to perform and encrypts 50GB of data. By contrast, the verification only requires 128K and less than one 10th of a second.

how can I be sure that I’m mining with full speed? *

You can check if your hardware can be found on the following lists (Intel, AMD, ATI)

my hardware is on one of the lists, but getting much lower results! *

The miner included with MemoryCoin-qt will take advantage of AES-NI instruction set, but you might need to enable AES-NI in your BIOS – some manufacturers ship with it disabled.
Mining rate will be proportional to your CPU’s AES encryption ability

 I heard MemoryCoin was premined – what does that mean? *

All balances from the public beta version of MemoryCoin as at block 8820 are transferred into the new blockchain at Block 1. MemoryCoin 2.0 has 10 million coins so there is a significant dilution. This dilution does not apply to MCF supporters. ProtoShares owners as at Block 32000 receive a distribution at a rate of 1 MMC for each 10PTS. With around 1 Million PTS issued, there have been 100,000MMC distributed in this way, and PTS owners cumulatively have a 1% stake in MemoryCoin 2.0. This adds up to a “premine” of ~7.3% distributed over a huge range of addresses and made sure MMC gets the attention it deserves right from the start.

I was holding MemoryCoins/PTS when MMC launched, how can I get my coins? *

MemoryCoin: you can import your balance by using your old wallet with the new blockchain. PTS: You can import your balance by using your ProtoShares wallet with MemoryCoin. It is recommend that you transfer your balance to a fresh MemoryCoin wallet after import. If you prefer to do it manually follow this guide

I installed the client, but it doesn’t connect to other nodes *

You can find a list of nodes here Add them by going to Help->Debug->Console and type “addnode <ipaddress> add”

 The client only shows one receive address and I can’t add more *

In contrast to Bitcoin, MemoryCoin utilizes an one-wallet-one-address approach. This prevents users from having a false sense of anonymity, and makes the voting process easier. If you really need multiple addresses for some reason you can start the client with the -multiaddress=1 option.