There was a large shortage of GPUs and ASICs for mining the SHA256 and Scrypt coins. That disabled many people who wanted to mine such coins, but could get any hardware, simply because of its shortage. As a result, a new cryptocurrency Slimcoin was created which allowed anyone to mine it, without needing powerful hardware. Such is achieved by a new block generation, Proof of Burn. In Proof of Burn, powerful computers offer no advantage over less powerful ones.
Official Website: slimcoin.org
Official Thread: https://bitcointalksearch.org/topic/ann-slimcoin-proof-of-burn-new-block-gen-mineable-by-low-power-computer-613213
Link to Whitepaper: https://slimcoin.org/images/downloads/slimcoin_whitepaper.pdf
Topic: Although GPU's are cheap, a shortage like earlier this year could happen again (Read 1116 times)
August 17, 2014, 03:06:32 PM
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