Bitcoin, Crypto currency, Blockchain

Now also Ethereum – Bitmain rumors, ASIC resistance is discussed

272e289f9bb02a0e75dd94a87854f28c - Now also Ethereum – Bitmain rumors, ASIC resistance is discussed

The Ethereum Core developer Piper Merriam has released on Github a proposal for Discussion (EIP), which provides for a modification of the Ethash-Mining algorithm to ASICs from the Ethereum network. The proposal is a result of a rumor that Bitmain Miner is already working on a Ethash-ASIC-and this might soon publish.

On Github, Merriam writes:

If you believe the analysis in the comments on this reddit thread BitMain may already running these miners. I believe it is the accepted wisdom that ASIC-based mining leads to increases centralization when compared to GPU mining.

First of all, the rumor is reported that Bitmain develops an ASIC Miner, the local news portal, Tech News. As a result, Merriam opened on Github a Ethereum Improvement Proposal (EIP 958). In this he declared that in his opinion, be in the crypto-community is a recognized fact that ASICs lead to a centralization of the network. Therefore, a Change in the Mining would have to be urgently algorithm discussed if Bitmain released in a timely manner, without much notice, as usual, a Ethash-Miner.

EIP 958 proposes formally that an improved ASIC must resistance in Ethash, the Proof-of-Work (PoW) consensus algorithm of Ethereum will be implemented. Tech News reported that Bitmain has already developed a Ethash ASIC Miner, and within the next few months with the shipping could start.

Vlad Zamfir, also a Core developer of Ethereum has started on Twitter a survey whether the community would support a Hard Fork to get the ASIC-resistance is Maintained. To the editors of time-a clear majority in favour of EIP 958. (20% have not voted (“show results”). Thus, 57 out of 80 are for the proposal.)

Merriam also has EIP 958 announced the Agenda for the Core-developers of Ethereum for next week (06. To put April).

The crypto-community vs. Bitmain

Application Specific Integrated Circuits (ASICs) are specifically on the Mining of crypto-specialized Hardware currencies solutions that are optimized only for a particular purpose and algorithm of a certain cryptocurrency.

Due to their specialization, ASICs have a large performance advantage over “normal” computer hardware, like CPUs and powerful graphics cards, is gemint with Ethereum currently is mainly. A disadvantage of ASICs is, however, that if the Mining algorithm is also changed only slightly, the ASIC miners obsolete and unusable.

Bitmain dominate the ASIC market, and has built in the past for a variety of currencies, with specific Mining Algorithms an ASIC Miner. In the crypto-community Bitmain has because of its business practices, but few friends. For some time there is the accusation against Bitmain, and its CEO, Jihan Wu, that Bitmain has soaked the decentralized idea of Bitcoin. The Mining Pools from Bitmain (BTC.com and Antpool), is currently 39.2 percent of Bitcoin Mining Power. In addition, ViaBTC with 14.8 percent Bitmain also very close.

The distrust of Bitmain and the fear of a centralization showed in the past weeks in the crypto Siacoin and Monero currencies. In the Siacoin municipality of a heated discussion had broken out, whether there is to be a Change in the Mining algorithm. First of all, a Change made by Sia.Tech rejected but. Strict showed up, however, the Monero developers team on 06. April will release an Upgrade of the Software to fight each other to ASIC Miner””. Instead of the ASICs with a Hard Fork only useless, Bitmain and miners suffer a massive financial loss.

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