Questions tagged [asic-resistance]

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19 out of 24 words of BIP39 passphrase (brute-force last 5?) [duplicate]

I have managed to lose 5 words of my 24 word Ledger Nano S recovery phrase. I have words 1-19 but I am missing words 20-24. I have significant holdings on the wallet so would very much like to recover ...
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3answers
41 views

Looking for whitepapers on pool-resistence mining

I have seen several cryptocurrencies list the feature of decentralization of mining through ASIC-resistance and pool-resistance. However, I have not yet found any whitepapers which explain how the ...
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1answer
318 views

Is asic-resistance obsolete?

Since the early days of cryptocurrencies, we have seen attempts to utilize ASIC-resistant mining puzzles. The idea behind that was to keep rich influential custom-hardware manufacturers out of game ...
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2answers
144 views

Is it possible to get rid of mining pools and therefore get a truly decentralized bitcoin?

There are some criticism that PoW of bitcoin and ethereum protocol suffers from the centralization of mining pools, and dPos such as EOS claimed to be more decentralized in practice than bitcoin and ...
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1answer
196 views

asic mining with different cryptocurrencies after it is no longer profitable

If I have an Asic to mine bitcoin and I mine to the point that it no longer becomes profitable to mine them anymore, Can I use the Asic to mine a different cryptocurrency and will the difficulty ...
5
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3answers
710 views

Is bitcoin-gold more ASIC-resistant than Litecoin?

Bitcoin Gold's main point for existence has claimed to be ASIC-resistant in order to have mining power more distributed. But wasn't this tried already with Litecoin via Scrypt mining algorithm? I've ...
22
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6answers
11k views

Why did Satoshi design Bitcoin to be mineable only on specialized hardware, if the goal was decentralization?

GPU-mineable cryptos are arguably more decentralized. Did he simply miss this design aspect or does this sound fishy to you?
5
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1answer
2k views

How does Segwit prevent ASICBOOST?

I know that ASIC BOOST exploits the fact that the blockheaders are not a multiple of 64 bytes, but what is the change in Segwit that prevents this? Are they always a multiple of 64 bytes now for ...
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2answers
2k views

Why is SHA3 less conducive to ASIC?

Bitcoins are encrypted with SHA-256, and Ethereum is encrypted with SHA3. Why can miners for SHA-256 encryption guess hashes in the TH/s when miners for the SHA3 encryption can only hash in the MH/s? ...
2
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2answers
937 views

How to prevent ASIC mining for my new altcoin?

I want to create an altcoin that is a clone of Bitcoin. I want the mining to be ASIC resistant. Are there any steps which I should include in my altcoin's mining algorithm to prevent ASIC mining? Do I ...
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2answers
281 views

Have the Bitcoin developers resigned to the idea of changing the mining algorithm to an ASIC-resistant one?

Mining centralization is a big Bitcoin problem, and the development of ASICs is one of the main causes of this, but I haven't found a lot of discussion about changing the mining algorithm to a more ...
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2answers
4k views

How is Scrypt ASIC-resistant?

I just started reading about Litecoin's Scrypt algorithm and all the explanations are quite complex. I have understood that Scrypt uses more memory than Bitcoin's SHA-256 which makes it ASIC-resistant ...
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2answers
742 views

What is the most lightweight proof-of-work algorithm?

I know litecoin was created back in the day using Scrypt as to make it more lightweight but also harder to build ASIC hardware from - so everyday computers could mine. Are there other algorithms one ...
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3answers
983 views

Is difficult hashing algorithm necessary?

To avoid GPU/ASIC mining, difficult hashing functions, such as scrypt and scrypt-jane, are proposed as PoW algorithm (However, GPU and ASIC are also suitable for basic scrypt operation). Is it good ...
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5answers
6k views

What features of scrypt() make Tenebrix GPU-resistant?

There's a fork of Bitcoin called Tenebrix that is claiming to be CPU-friendly and GPU-resistant (with regard to mining). They say that this is because they're using scrypt instead of SHA256. From what ...
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8answers
3k views

Are there algorithms that could be used for mining that resist acceleration with ASICs?

In my related question about mining algorithms that balance CPU and GPU it came up that such an algorithm would tremendously increase the incentive for people to create mining botnets. The prospect of ...
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3answers
3k views

Are there algorithms that could have been chosen for mining that balance CPU/GPU?

The mining algorithm for Bitcoins (and most alternative but similar currencies as well) is purely computation hard, but not decision hard or memory hard. This caused the unexpected effect that GPUs ...