Have we considered swapping algorithms to X11, SHA 3 or Scrypt-N? Not necessarily something we have to do, but being open to it to protect against ASIC miners may be a selling point. Look at Bitcoin Scrypt. They've gone up 800% maybe even more since coming public about having a community that votes on the algorithm when it comes to preventing ASIC miners and staying decentralized mining wise
PS: My research paper on what gives Cryptos value should be done by the beginning of April
This is an idea we are strongly considering. We have been researching other algorithms for awhile. At this point the first generation of Scrypt ASICs will not be giving anywhere near the same boosts we saw with Bitcoin SHA-256 ASICS. At most we are looking at a 2-3 fold increase in efficiency. Not to mention all companies have experienced delays and no one is close to market yet.
The whole idea of "ASIC" proof is a good marketing slogan but since Scrypt ASICs will not provided anywhere near the same net hash increase that Bitcoin ASICs did there are a few arguments that would make it a good thing. The 1st being increased blockchain security with a higher net hash, less power usage which is healthier for the environment and less waste.
We are keeping an eye open on this and if we have to it will be addressed down the road. For the next few months we figure we are good.
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