THELOGICALINDIAN - This anniversary the Zcash Foundation and advisers from the University of Luxembourg accept appear a abstraction that finds the attendance of ASIC and FPGA miners may be authoritative about 30 percent of the all-embracing Equihash mining hashrate The abstraction speaks volumes to cryptocurrency developers and communities who accept attempted to aftermath proofofwork mechanisms that were meant to accommodate ASIC attrition
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As of May 2024, Roughly 30% of the Equihash Mining Algorithm is Likely Mined by ASICs
Over the accomplished few weeks, there’s been a lot of altercation on the accountable of application-specific chip circuits (ASICs). The conversations accept revolved about agenda bill networks that accept been threatened and alike maliciously attacked to the point that bill are accustomed to be bifold spent. Cryptocurrency proponents that hoped their admired cryptocurrency accord algorithm would avert the arrangement are award out they were hardly mistaken. Cryptocurrencies like Bitcoin Gold, Monacoin, and Verge accept apparent significant attacks on their networks and millions accept been baseborn or bifold spent by awful actors.
In the case of Bitcoin Gold (BTG), the cryptocurrency that hoped to be a ‘better bitcoin,’ acclimated the Equihash algorithm modeled afterwards the Zcash network. On May 23 addition took over added than 51 percent of the BTG hashrate and was able to double absorb over $18Mn USD account of BTG. A few weeks after the Zcash Foundation and the University of Luxembourg had absitively to analysis how accustomed ASIC and FPGA miners are aural the Zcash arrangement and all cryptocurrencies that use the Equihash algorithm.
“In the abbreviate aeon of time of this abstraction (2 weeks) we could put an high apprenticed on the ASIC/FPGA abeyant attendance in Equihash mining ecosystem as of the end of May 2018 at 20 – 30% of absolute mining operations,” explains the University of Luxembourg advisers Alex Biryukov and Daniel Feher.
The Zcash Foundation Has Dedicated R&D Efforts Towards ASIC Resistance
The Zcash Foundation explains in there official ASIC attrition attitude that they accept been developing “ASIC attrition as an advantage while accompanying researching ASIC resistance.” Essentially, Alex Biryukov and Daniel Feher detail that ASIC miners are present aural the arrangement hashrate of bill that advance the Equihash algorithm, and accept presented their estimates accurately for the Zcash Foundation.
However, the analysis aggregation concludes that the abstraction needs added research, and audition ASIC miners is not so accessible and abstracts can be manipulated.
“It is important to agenda that our accepted methods can be ‘fooled’ by accurate ASIC miner and the methods are additionally not aerial abundant to ascertain ASIC miner testing of few % of the absolute hash-rate — This is a assignment for added research,” the University of Luxembourg aggregation concludes.
What do you anticipate about the abstraction that says almost 30 percent of the Zcash hashrate is candy by ASICs? Let us apperceive your thoughts on this accountable in the animadversion area below.
Images via Shutterstock, Bitmain, and the University of Luxembourg analysis paper.
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