The War is getting dirtier ever and ever. While yellow crypto media and venal writers here and there are announcing it over already, Bitmain is busy punishing communities who dare to resist.
After the shameful event of announcing z9 as Bitmain's latest ASIC crack against a PoW algorithm, two equihash based coins that happened to be the ones who officially had announced their intention to resist the ASIC crack by managing for a hard fork, Bitcoin Gold and Zencash, experienced a 50%+1 attack.
It is how it works in the 'real world' when it comes to money, we all know, but there is something else that we know too: Cryptocurrency is about changing this reality instead of giving it a hug.
I'm sure, devs in both camps will do what they should, and Bitmain's evil strategy will fail but here I'm not talking about alternate currencies, instead, I'm willing to discuss Bitcoin situation, being seized by a company like Bitmain, praying for its majesty to play fair, desperately.
This company is dreaming of taking over the whole crypto ecosystem and I think it should be even kicked out of Bitcoin.
Very opposite agendas in a ridiculous distribution of power and resources, they have everything and I'm on my own, I see but I have something they can't even dream of: a plan!
Firstly, the depth of emptiness of Bitmain's strategy should be understood. Taking over a decentralized system is an impossible mission. This company is deemed to failure the question is whether it goes down alone or pulls Bitcoin down with itself.
My plan:
I think eliminating ASICs is a very urgent necessity and it is absolutely feasible, both techically and socioeconomically. For coins that has not been overtaken by Bitmain (yet) it is more convenient, obviously, but in the case of infected ecosystems like Bitcoin, for which my plan is, it gets a bit more complicated. I'm thinking of 3 major projects:
1- Specific enhancements can be made to bitcoin mining protocol that discourage pool operations and help decentralized mining. I call it de-pool project.
Running such a fork would prevent Bitmain from using its Antpool leverage in the first place and brings back mining power to the actual ASIC owners.
The technical challenges involved are not that hard and I have some proposals for it in my turn.
2- A Dag based algorithm can be implemented with very acceptable resistance against ASIC attacks, despite what venal cryptographers and writers say. I call it de-ASIC project.
An enhanced version of Dagger Hashimoto can resist ASIC attempts very well. Bitmain's E3 is a misleading propaganda announcement, a joke and not a true ASIC crack.
2- A smart solution can be devised to let a smooth migration from ASIC to gpu mining within few epochs that can take place in like 2 years. It is ASIC Break project.
This project is based on a multi-algorithm, multi difficulty approach and smoothly will retire ASICs in a 2-3 year period.
Each of the projects needs a seperate thread to discuss but the whole picture deserves one as well.
You are welcome to discuss the feasibility of each project and share your ideas, but please, keep your 'ASIC is not that bad' shit out of this topic. Here I'm inviting people committed to ASIC resistance, not the ones who (being payed or not) write in favor of the enemy. Of course you can write what you want but it will be my right to call you a venal writer. This is how I think, "anybody who writes in favor of Bitmain, is payed by Bitmain" and you know what? I don't feel bad being such an enthusiast this one time.
In Misericordae's whitepaper (to be released soon), this issue was analysed. Yes indeed, there is a bitter war going on already about ASIC. Is it the best solution to BAN ASIC in the cryptocurrency ecosystem? From hardware engineering point of view, Bitmain succeeded on an innovation path that was not conceived to be possible some years back. These ASIC machines have other advanced applications apart from using them to mine cryptocurrency. Bitmain should be encouraged to focus more in further development of ASICs, like they have currently supported the creation of a new Algorithm that bridges cryptocurrency mining with Artificial Intelligence. On the other hand, Bitmain should be discouraged from producing ASIC for specific algorithms without an initial active discussion with the developers. Such an active collaboration between hardware manufacturers and software producers will be very positive for growth and use of cryptocurrency and blockchain technology in general.
Is there a possibility of 51% attack on Bitcoin? Of course! This can be effectively carried out if desired either by the manufacturer of ASICs like Bitmain or by mining farms. If Bitmain has integrated backdoors in the miners, it will easily conduct any form of attack on Bitcoin Blockchain, any form including 51%. The possibility of such a backdoor cannot be ruled out, intentional or unintentional, as today we are still unravelling backdoors/flaws in our personal computers. But how about mining farms? It is also highly possible that owners of mining farms could find companionship in an effort to conduct an attack on the network.
What are the ways forward?
First and foremost, bitterness in the young ecosystem is unhealthy for everyone. Secondly, Politics, Regional, and National Interests must be removed from the blockchain ecosystem. You cannot rule out issues of Chinese and Western powers in this episode. Thirdly, both hardware and software developers must learn to have discussion, very transparently, and should ask the question about where we will be in the next ten years with the 'dirtiness' that is already creeping into the young ecosystem. Lastly, Bitmain has earned a reputation as an unhealthy competitor and a potential bad actor. However, all must see through the efforts of Bitmain to correct its past mistakes and they should be helped through more open communications and thought-through advice.
Bitmain sees it that they succeeded in an innovation and they definitely want to stay at the top among their manufacturing peers. As a manufacturer, Bitmain asks itself this question: "if we don't manufacture ASIC for this Algorithm, our competing peers will do it". If Blockchain developers understand this logic in the mind of Bitmain, then a transparent dialogue/agreement that makes both sides happy will be reached. Peace and Working together is so much needed in the baby blockchain ecosystem. There are much larger challenges that are yet to come. DIALOGUE! DIALOGUE! DIALOGUE!
