Tag Archives: ASIC

Ethereum Mining in the Era of ASICs

Ethereum mining may be reaching the end of its life
The Ethereum network has been growing steadily and hashrate and difficulty on the network have blossomed over the last few months as mining has expanded and more entrepreneurs get in on the action. Both metrics have just about doubled since the beginning of 2018 (which makes sense, as they are designed to closely track each other) though some attribute the speedy increase to the secret introduction of ASIC miners by Bitmain before officially releasing the technology for sale. Continue reading Ethereum Mining in the Era of ASICs

Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks

Mining hardware manufacturers have begun selling Cryptonight ASIC miners for next to nothing after privacy-centric cryptocurrency Monero carried out its threat to adopt a hard fork to maintain ASIC resistance. Last week, Monero activated its semi-annual hard fork, an update that included an alteration to its instance of the Cryptonight Proof-of-Work (PoW) consensus algorithm. Continue reading Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks

Monero Hard Forks to Maintain ASIC Resistance

Monero hard forked to version 12 of its protocol yesterday. But not everyone is on board. Following the example once set by Ethereum Classic, some users are continuing on the pre-hard fork Monero blockchain… though in this case not as a single project. Now there is Monero Classic, Monero 0 (XMZ), Monero Original (XMO) and a second project by the name Monero Classic (XMC) (which in this article we will refer to as Monero-Classic); these are all continuing on version 11 of the Monero protocol. Of course, this means they are all still compatible on a single network, using the same asset (coin) — just with different names.

The latest hard fork also introduced a tweak to Monero’s CryptoNight proof-of-work hashing algorithm. This backwards-incompatible change makes all existing ASIC (application-specific integrated circuit) mining hardware useless. Such specialized hardware is a bigger concern on the CryptoNight hashing algorithm than most other hashing algorithms, as it could let ASIC miners launch denial-of-service (DoS) attacks on non-ASIC miners and non-mining nodes on the network.

Reference: https://bitcoinmagazine.com/articles/monero-just-hard-forked-and-it-resulted-four-new-projects/

Monero and SiaCoin Reject Bitmain’s ASIC Miners

On March 24 the creators of Monero made an unprecedented statement – the project devlead, Riccardo Spagni, warned that the coin’s protocol would be changed every six months to make the cryptocurrency less appealing to application-specific integrated circuit (ASIC) miners. Continue reading Monero and SiaCoin Reject Bitmain’s ASIC Miners