Hi All,
Just a quick update before I get some sleep.
Today I was looking into a major upgrade to an X13 algorithm that will give Tittiecoin multiple levels of security just in time before we start allowing merchants to accept us as a payment option. There are a number of reasons we are looking into this but the main reasons are to improve security on the Tittiecoin network and to cope with the increase in mining interest.
We took your feedback form the poll as well as the input from our Tittiecoin Foundation members and came up with this.
This is what we are moving forward with- Algorithm upgrading to X13
- Reduce total coins to 1.5 billion
- Reduce mining reward to 3003
Below you can read more about how X13 will benefit us moving forward, as always thank you for being part of Tittiecoin and keep reaching for the stars!
X13 is a modern hashing algorithm.This algorithm uses 13 rounds of hashing with 13 different hash-functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, etc.), which makes it one of most reliable in a modern cryptocurrencies world.
Extended cryptocurrency defense
Specialists do not exclude availability of SHA256 hacking, which can jeopardize all bitcoin network. To hack X13 one must find vulnerability in all 13 hashes, which is much more difficult. Even if one of these hashes would be compromised, it would be just a signal to developers for to analyze the problem and change this hash.
ASIC protectionASIC is a cancer on a cryptocurrencies’ bodies. They’re killing the main idea of cryptocurrency – decentralization. Difficulty of mining growing dramatically with ASICs on a scene, it’s growing more unavailable, because the only those who can invest big funds can mine. Currency transforms from exchange tool to a speculation resource. And more of that - people becoming adjectives to ASICs manufacturers.
ASICs for SHA256 was released in 2013 and led to the Bitcoin difficulty increase of 860 times in the last year (06.2013 – 06.2014). Scrypt developers tried to solve this problem, but ASICs for this algorithm has been released in the beginning of 2014.
As of October 2014, X13 fully protected from ASIC. Difficulty of developing is due these same thirteen algorithms.
Reduced power consumptionPower consumption and heat are really important mining aspects.
After GPU client release people began to notice that their video cards are heating much lesser and fans making much less noise. Power consumption has been reduced to 30-55%!
You should understand that these numbers can change, because they’re mostly depends on client optimization.
Regards
Ricky
Team Tittiecoin
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