Topic: MONERO adopts a new POW Algorithm to fight ASIC - page 2. (Read 736 times)
when's the deadline?
The thing is there is no way to stop ASICs or FPGA in this case. Period.
Techically correct. It will always be possible to build an ASIC or FPGA to do whatever a CPU can do
because they are all built from logic gates. The most significant difference between an ASIC and a CPU
is it's purpose.
RandomX is essentially a compiler, runtime system and processor all in one. It takes as input
a program which it compiles into its own native machine code then runs it to produce the hash.
So a RandomX ASIC or FPGA miner is just a CPU, compiler and runtime system on a chip that
serves a single purpose.
Seems simple enough. Or is it?
keep your all eth coin trolls, the moment asics are banned from mining eth then eth price will be back to $ 1400 or higher maybe around $3000.
i'm afraid it won't help too much.. this is 3rd change of algorithm for Monero, and within 2-6 month they are facing again with the same problem : increasing numbers of asics or fgpas.
no idea how to fight it and eliminate the problem completely, maybe the strategy they choose - is the only one is possible in this situation.
i wonder, if it possible to change POW somehow that only high level computer language could described and solve it. so then asics will be out.
no idea how to fight it and eliminate the problem completely, maybe the strategy they choose - is the only one is possible in this situation.
i wonder, if it possible to change POW somehow that only high level computer language could described and solve it. so then asics will be out.
At least they are doing something and making progress. While the number of ASICs and FPGAs are increasing (for all coins and algorithms btw), the constant changes in algo make it less susceptible to such things even if it only happens every 2 to 6 months. Can you imagine what the network hash rate would be if Monero devs accepted defeat and never changed their algo?
I salute the Monero team and support their continued fight against centralized mining.
The thing is there is no way to stop ASICs or FPGA in this case. Period.
After an algo change, the FPGA programmers start working to make it run under the new algo and if they succeed, they will start mining silently.
If FGPA is successful, then big companies like Bitmain or Innosilicon have so much capital that they can manufacture large scale ASICs for it.
I believe in time, ASICs can be manufactured for any algo and the only way to tackle this is to cycle a change of algo in a specific period of time.
Similar to what Monero is doing and believe me, there are doing one great of a job.
After an algo change, the FPGA programmers start working to make it run under the new algo and if they succeed, they will start mining silently.
If FGPA is successful, then big companies like Bitmain or Innosilicon have so much capital that they can manufacture large scale ASICs for it.
I believe in time, ASICs can be manufactured for any algo and the only way to tackle this is to cycle a change of algo in a specific period of time.
Similar to what Monero is doing and believe me, there are doing one great of a job.
i'm afraid it won't help too much.. this is 3rd change of algorithm for Monero, and within 2-6 month they are facing again with the same problem : increasing numbers of asics or fgpas.
no idea how to fight it and eliminate the problem completely, maybe the strategy they choose - is the only one is possible in this situation.
i wonder, if it possible to change POW somehow that only high level computer language could described and solve it. so then asics will be out.
no idea how to fight it and eliminate the problem completely, maybe the strategy they choose - is the only one is possible in this situation.
i wonder, if it possible to change POW somehow that only high level computer language could described and solve it. so then asics will be out.
ETH Dev should learn something from Monero and do the same. Its been a few years already since the first ETH asics hit the market and there is no news of any potential algo switch. They did an audit and it came back in favor and we will see if they will actually take action. However from what I remember this was suppose to be implented in the last fork which is what the devs discussed at the beginning of the year.
Its too bad the overall daily miner revenue for XMR is low, would be a game changer otherwise. Either way I got some idle rigs and will switch over and see how long it stays profitable, should be interesting.
Regarding XMR, was it even ASICs which were dominating the network? I assumed it was just FGPA's. I don't think the ASICs had enough time to fabricate a new chip.?
Its too bad the overall daily miner revenue for XMR is low, would be a game changer otherwise. Either way I got some idle rigs and will switch over and see how long it stays profitable, should be interesting.
Regarding XMR, was it even ASICs which were dominating the network? I assumed it was just FGPA's. I don't think the ASICs had enough time to fabricate a new chip.?
Very good to hear this
of course, miners will not be surprised, XMR has ALWAYS vowed to keep ahead of ASICs
So this is to be expected
/clap 2 Fluffypony & Team, ive always liked that guy
of course, miners will not be surprised, XMR has ALWAYS vowed to keep ahead of ASICs
So this is to be expected
/clap 2 Fluffypony & Team, ive always liked that guy
ASIC's "undermining the stability and security of the network"... pffft! What a load of crap.
Monero is adopting a new Proof-of-Work algorithm to fight off ASIC miners from taking over the network and thereby undermining the stability and security of the network.
According to an article
" Monero is planning to switch to an entirely different proof-of-work algorithm to remain resistant."
RandomX will be introduced to replace the current CryptoNight Algorithm.
Credit : https://bitcoinist.com/monero-xmr-adopts-new-pow-algorithm-to-fight-off-asics/
Good move to enable smaller miners stay relevant in a fast changing ecosystem.
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