Magi (XMG), also known as Magi Coin, is a decentralized project of peer-to-peer cryptocurrency developed with the intent of providing digital payment solutions. The coin features a constant functioning process without any downtime and help from authorities, intermediaries, and censorship. Magi aims to be a fast and self-sustainable currency backed by community.

According to the website of the asset, the coin functions using a hybrid of  proof-of-stake (PoS) and proof-of-work (PoW) mechanism and seeks to remove the competitive nature of the mining process. In order to achieve this atmosphere, the project launched a mining solution in the form of software known as the Magi software. This software is an open-source application developed to facilitate the mining process without any reservation for reward against mining. This, in turn, allows the coin to create an energy-efficient, fair, and cost-effective mining solution that can be performed using regular gadgets like desktops, mobile, etc., thus allowing people worldwide to participate in the Magi’s ecosystem.

Besides these attributes, the Magi project also highlights an open-source, source code that anyone around the world can work on, allowing the coin to grow further. The source codes are sets of instructions written in a language that a digital gadget understands. Other than this source code, the project also highlights many other products within its ecosystem, they are:

These products are an important part of the Magi Coin’s ecosystem that facilitates transactions like payment, exchange, and staking with the use of Magi (XMG).

The Magi project was founded by Joe Lao, Founder, and Developer in 2017. The cryptocurrency of the project has a total supply of 25,000,000 XMG.

We update our Magi to GBP currency in real-time. Get the live price of Magi on Coinbase.