Asic resistance altcoins

From smartphones to personal computers to artificial intelligence research, a GPU is a flexible jack-of-all-trades in the computing world. XRP 3 days ago. May They can be targeted for any reason, not just targeted by law enforcement for criminal acts. There were also some people in the space who claimed that the best way to tackle the centralization problem is by ensuring that the network was ASIC friendly as it would create the doorway to cheap ASICs that can be affordable by a majority.

Monero Announces Network Upgrade

Something that seems noteworthy or convincing, not just a new appearance. Does it sound good? Hashing is the act of scrambling data. Hashing algorithms are a specific set of instructions used to generate a hash. They could be as simple as multiplying by 5 and then dividing by 2. The caveat here is this is completely reversible. You just multiply by 2 then divide by 5, and computers can do this guesswork extremely fast.

Is financial privacy really THAT important?

The key mechanism that lies behind Bitcoin , Ethereum , Litecoin or basically any Cryptocurrency is Blockchain. The whole idea of Blockchain is that it is completely decentralized, meaning there is no centralized power to control anything. You may now ask how ASIC machine is linked to this subject? The history of crypto currency mining began with Bitcoin SHA algorithm. The original vision of Satoshi is that everyone should fairly contribute to the Bitcoin network so it remains distributed and decentralized. As the value of Bitcoin raised ASICs entered dominating the entire network making normal miners impossible to mine Bitcoin using their consumer grade hardware.

Something that seems noteworthy or convincing, not just a new appearance. Does it sound good? Hashing is the act of scrambling data. Hashing algorithms are a specific set of instructions used to generate a hash. They could be as simple as multiplying by 5 and then dividing by 2. The caveat here is this is completely reversible. You just multiply by 2 then divide by 5, and computers can do this guesswork extremely fast.

If you want the input to remain a secret you need something stronger and irreversible. Remember those number pattern recognition tests in high school? Computers are also really good at those, no matter how complex you make. See how the outputs are all different? Now that you get the gist, keep adding random values after blockdata until the output hash begins with aaa.

You can find more extensive detail on what I described above in this video and you can watch someone perform the SHA algorithm by hand. Running SHA on a string of data is a very simple process for a computer. Try and imagine each of these blue dots as a 0 or 1, and the entire machine is a CPU:. Your CPU can do it, but the rest of that space and energy is wasted, leaving a lot of room for improvement.

Techno is just a single genre of Electronic music, and ASICs are just a single kind of hardware specialization. Please ignore the title of this article, it was only meant to lure you in with your own misunderstandings. Application specific hardware is designed to do one thing, and one thing. When you get rid of all the useless bells and whistles of a CPU, you end up with much more efficient and specialized hardware.

Complexity is the essence of The Resistance, but it doesn’t always come in the same form. Drawing from the. The issue with this, and with the logic above, is that at some point if your coin is successful enough it will be worth designing specialized hardware for it.

Then you end up in a situation where the production supply for that specialized hardware is very centralized, but more on that later. Some other algorithms use multiple parts of the CPU, some of which may be more costly to create specific hardware for, but again this falls short in the end. Litecoin tried this, and now they have specialized mining hardware.

Motherboards connect different kinds of hardware together, yes, so not all kinds of computing take place within the CPU. Some algorithms are designed to require more RAM to generate more hashes.

All this does is prevent graphic cards from being used to. It falls short of utility in almost all other cases. The in-development coin Grinmaking use of Mimblewimble privacy technology, uses this kind of algorithm, and companies will develop hardware if it ever becomes a viable cryptocurrency or perceived and valued as.

Monero is like. This is of course, finebut the most important distinction here is this is not decentralizedat all, whatsoever, no matter what anyone tries to tell you. This one takes the selection process and automates it. All of these algorithms can have specialized hardware designed for it, and again, the only thing preventing this from happening is the price of the coin.

If it becomes valuable enough, it will happen. Ravencoin aims to do this by alternating between 16 different algorithms. Like all the other methods described above, the end result is just a system that is more difficult to specialize, not impossible.

Well…it was the first one. It was just an interesting concept at a time when nobody knew where any of this was going to go. Of course the issue here is not any particular coin, but how this trend ended up playing. While one project may have been created out of genuine interest, others were certainly scams, then there was everything in.

This gradient of legitimacyalong with the exponential growth of this space, is important because it helps people understand why we are still seeing this concept of resistance continue to propagate today. Some of these coins are still around, with Litecoin being the perfect example. A good portion of them are ICOs, but within the context of this article more notably is the introduction of new blockchain security methods.

As mentioned already, Ravencoin launched recently and it advertises itself as resistant by having the protocol switch between 16 different algorithms. I find it unlikely that ASIC resistance will continue to be a major selling asic resistance altcoins in the future, but likely that the hype-death cycle of altcoins will continue via other means of attraction.

Mining in its current state is chaotic, dirty, sort of disruptable, and there are too many blockchains to go. Hashpower security in the form of energy expenditure is slowly starting to prove its necessity. Everyone has their opinion, but many refuse to think 50 or years into the future when it becomes fundamentally important to have a good Proof-of-Work algorithm.

Minings intrinsic properties imply a never-ending race to be the most energy efficient and the end result will be mining on renewable energy, which will encourage farms to grow outside of China and in close proximity of those renewable resources. It becomes even easier to do this when you can get the hardware manufactured locally, or even do it. An advanced piece of hardware like a modern central processing unit, or a very specific and simple to produce chip that performs a very basic hashing algorithm?

Do you think these power companies are going to standby and just let all the extra energy production go to waste? Probably the last headline you want to see as a Lemonade Stand entrepreneur when you wake up in the morning.

In preparation for this day, you created a list of things that could potentially effect your new Lemonade business:. Would you have this freedom if only a limited set of your neighbors had the right kind of soil that could grow Lemon trees?

When it comes to designing and fabricating hardware to process the PoW algorithm being used in Bitcoin, the last thing you want to see is 50 different companies trying to get the same single fabrication company to create hardware for. The more complicated the hardware design is that you need created, the less likely you are to find a variety of chip manufacturers that can do this for you, and the ones ones that do exist may be production bottlenecked, or in some sort of binding contract.

Do you know why mining originally centralized in China? China has less regulations on hardware design, happened to have cheaper electricity or it was easier to fraudulently get cheaper electricityand the hardware was relatively easy to produce. Fundamentally though, it was because of the cheap electricity where they wanted to set up mining facility, and a low cost distance to transport from the manufacturer to the mining facility. As renewable energy starts becoming more prominent, what do you think is a better scenario over the long term?

We went over how new startups are coming online and expanding at this very moment, and that there will be more to come, but what would happen if they were stopped in their tracks? If you were a startup that was looking into mining, but you made no initial investment yet, what would you do after such a thing occurred?

Would you be more likely, or less likely to keep moving forward knowing that one day all your equipment will become obsolete? Bitcoin PoW change advocates are only temporary relieved by their own solution and have nothing to offer that brings finality to the never ending PoW change dilemma their logic puts themselves in.

Remember that thing about gradients of people? Yeah…Then we need to come to full consensus every time we fork the PoW? Below are excerpts of two bitcoin-dev mailing list emails from Anthony Towns. This upgrade, like most to follow, is set to be a soft-fork one of the benefits of the Segwit soft-fork that allows all the old functionality to continue existing, while providing the option and incentive to switch to using the new feature.

The hard-fork would then remove additional complexity in the code that was required with the asic resistance altcoins to keep the network. The logic surrounding this hard-fork proposal is actually quite reasonable. The hard-fork that is being proposed tacked on to the end of it makes a single assumption: That within 5 years, most people will have upgraded already.

I polled Twitter a while back and these were the anecdotal results:. I firmly consider this to be an extremely reasonable hard-fork as far as hard-forks go but I would never support it with results like. Tweet This. It has a better name? Application Specific Processing. The State of Cryptocurrency Mining For those new to the blog, I am the lead developer of Sia, a blockchain based cloud storage platform.

About a year ago… blog. Intended to be the First, the Best, and remain so into the future. Hard-Forks Intrinsically Lack Consensus with few exceptions Below are excerpts of two bitcoin-dev mailing list emails from Anthony Towns.

Full-Stack Social Engineer. Continue the discussion. StopAndDecrypt Apr StopAndDecrypt Jun Hackernoon Newsletter curates great stories by real tech professionals Get solid gold sent to your inbox. Every week! Alex Wang Mar Anthony Xie. Raiden Network Sep Olga Neroda Jun Contact Us Privacy Terms.

How Are Mining Profits Now? September 2019

ASIC Resistance Long-Running Concern Among Monero Developers

Simplified comparison of PoW and PoS; Source: Blockgeeks Alternative Blockchains with Alternative Approaches Despite the nascent stage of the blockchain technology, this sector has managed to attract a tremendous number of talented developers. The altoins are greater than you might think. Following this logic, Resistanc are only naturally emerging when a task asic resistance altcoins worth the effort of being computed efficiently. Leave a Reply Cancel reply Your email address will not be published. The main conclusion being, that there will always be a need and an approach to make a specific computation more efficient. StopAndDecrypt Source. In theory, a continual hashing algorithm update process keeps a network ASIC resistant. Note: Efficient mining requires a lot asic resistance altcoins memory, which can be difficult to hide in infected computers and disqualifies many low-end machines such as IoT devices. Contact Us Privacy Terms. In retrospect, no other crypto has been as dedicated as Monero towards ASIC-resistance, and if RandomX were to resistabce, then it may just prove that ASIC resistance was truly unachievable, and if it were to succeed, then it Monero could just lead by example in making mining more decentralized and altclins. In the cryptocurrency world we derive this from the value that a certain coin protocol provides. Latest Popular. Due to the incredible amount of money mining farms have invested, Proof of Work systems have essentially turned into Proof of Stake blockchains as most of the network is secured resistahce entities that have bought resources for the sole purpose of acquiring hash rate.