Can someone tell me why this coin is up 300%. I saw that it is multi-algo but other than that was is driving this madness?!?!?
Well, multi-algo is a big deal, to me.
Myriad is secured by Bitcoin and Litecoin merge mining, yet BTC or LTC pools can't attack our network, because they only get a share each of 20% of blocks. At the same time, people can still mine Myriad on their GPUs, and with the next hardfork, Myriad will be once again open to CPUs like it was when it launched.
The idea is we let as many people as possible mine Myriad. It doesn't matter what kind of mining hardware you have. The result is that more diverse people will mine Myriad. It makes the network stronger than other altcoins.
Sometimes one algo has problems. For example, Qubit right now is unreliable at finding blocks. If you pay attention in cryptocurrencies, you notice that every algo has problems at times, whether because of secret new optimised kernels, or new FPGAs/ASICs. But with multi-algo, we never get a stuck chain. If Qubit is taking too long to find blocks, the other algos are still running as normal. Myriad is very reliable. You always have a new block every minute, or at most every few minutes.
You can watch some network stats to get a clearer idea of what I'm talking about:
http://myriad.nutty.onehttps://cryptap.us/myr/myrstatPresently, Myriad is the most advanced multi-algo coin in terms of development, so whether or not this is a good ol' fashioned pump 'n' dump, I believe Myriad deserves a high market cap.