Thinking about creating a coin that can be botnet resistant AMD Video card resistant and ASIC resistant. Let's put our minds together and come up with a solution to this!
I'm thinking of making it tie to the amount of clicks you do on your browser but this might be defeated by some progammer who can script the clicks. Hmm.. Let's all stick our head together!
Memory bound proof of work algorithms. MemoryCoin was the first implementation I've seen, with their Momentum PoW algorithm. The problem is that people/"the market" wants to mine with their GPUs etc. but I believe that will fade out eventually.
There are other memory bound functions that are worth looking into, and I'm working with one for my longer term project. The trick is striking a balance so mining is achievable, while leveling the playing field so everyone has a reasonable opportunity to participate. But going for more distributed hash-power density is a complex issue.
But any balance will be temporary, as whatever algorithm or technique is used, if it is profitable people will aggregate the appropriate resources. Just as all the GPUs are sold out everywhere now, and people have built GPU farms and ASIC farms, if you do an algorithm that favors memory or some other factor people will eventually start building monster rigs optimized for it.
and you kill off centralized pools.
But this is also a case of "be careful what you wish for".
Another area to maybe look into is difficulty allocation.
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