The other day someone posted a link to the repo for the Mad Max cryptocurrency node he’s tentatively calling MMX. I suspect that name will change as there is a really scammy looking MMX token that launched recently and I don’t think he’s going to want any association with that, but for now its MMX. A quick look at the repo and even a neophyte will see that it shares little with Chia, being completely written in C++ instead of python and sporting no GUI as of yet. While this forks a few portions of Chia (it is a Proof of Space and Time coin and uses the chiapos library), calling it a Chia fork is like calling OPNSense a Monowall fork.
Over the last day and a bit I have built the full node on Windows under WSL, plotted out about a TB of K30 plots using Mad Max’s plotter (again under WSL) and have been farming happily away. When not plotting I might even be running the fastest Timelord, as I have it built on my gaming PC and not my Chia farm for the time being.
I have to say, this is the most interested I’ve been about something in the Chia ecosystem since discovering Chia itself. Considering the issues that people have been complaining about around performance of the node and slow peers causing network issues this coin is a breath of fresh air. It is fast. After 6 months of Chia it feels blazing, impossibly fast. The full node syncs 10s of thousands of blocks in a couple minute and REALLY pounds your CPU while doing so. There won’t be weeks spent syncing databases here I imagine, not for a very long time.
At this point I should mention that this software is an extreme alpha. Max has not even really released anything, we found it and started talking about. He is doing extremely active development on it with new features having launched multiple times in a day right now. He even open sourced the VNX middleware yesterday after a few people expressed concern with the closed source component.
He is not planning on this being a smart contract platform. One of the design designs is to streamline what runs on the blockchain to pre-defined data structures. So he is planning on NFT support and swaps and other modern cryptocurrency instruments, but not as user programmable dApps. The purpose here is going to be providing a stable, fast platform for transactions and trades.
As for the farming, plots are not compatible with Chia plots. You have to use the Mad Max plotter with a specific MMX switch specified in order to produce plots for the coin. Right now the testnet supports over K26 but he is planning on K30+for mainnet. The software uses a different wallet format than Chia, so when you create your wallet you will get a wallet.dat file instead of a database. This means that it does not have the very lengthy wallet syncing process that Chia undergoes when creating keys, It is very Bitcoin-like, because it uses the Bitcoin wallet signature ciphers.
Farming rewards are variable, keyed to netspace so that it creates some stability. Max is planning on keying the price to around where Chia and Chives sit. He theorizes that eventually proof of space and time coins will all sit around the same in terms of farming value returned. This is a really interesting concept and as the netspace has grown today I have noticed that the rewards have been increasing.
I think because of the use of ECDSA signatures MMX will not suffer the difficulties bringing it onto exchanges that Chia and the Chia forks have seen. It should be very similar to Bitcoin and hardware wallets should support it with very little work, if any.
Because the software is pre-Alpha and basically just a tech demo for what Mad Max has planned, its hard to fully review this. That will have to wait until Max has had some time to really flesh out his idea. In the mean time though, and considering how fresh this software is I am extremely impressed. In terms of hardware utilization and performance it blows the Chia node out of the water. Its noticeably faster even in places where Chia is pretty fast, like sending transactions. And the syncing is just something else. I don’t know how much of this is usable by Chia but it’s Apache licensed and I hope they take a look to see. And if I was a blockchain investor looking for a project to fund I would be extremely interested in talking to Max right now.