MONERO adopts a new POW Algorithm to fight ASIC

[Ayers]

no matter what they change, chinese can reprogram a new asic board with the correct code to work with the new monero algo, let alone fpga that can be reprogrammed again and again, even if this is memory intensive, monero is big enough to encourage the makiing of an asic for it

[Ursul0]

it makes perfect sense for monero. some coins should not be minable by "specialized" hw.
I'm also thinking of implications of the more cpu-centric algo from the perspective of "involuntary" mining, which is very popular on XMR

[sandra_x]

ASIC's "undermining the stability and security of the network"... pffft! What a load of crap.

It is easier to concentrate power in the hands of a miners when you run on ASICS. Compare that to GPU farms or tokens you can mine with your laptop

[adaseb]

no matter what they change, chinese can reprogram a new asic board with the correct code to work with the new monero algo, let alone fpga that can be reprogrammed again and again, even if this is memory intensive, monero is big enough to encourage the makiing of an asic for it

Its not that easy to reprogram a new ASIC board. Its needs extensive research to be effecient and needs to be fabricated at a plant. Last estimate I heard it was a few million at least just to get it fabricated. After you get it fabricated you can easily just put it into an existing ASIC board like an Antminer.

However keep in mind that the Miners revenue for XMR is about $90K a day according to,
https://bitinfocharts.com/monero/

If you look at ETH its $2 million and BTC is $13.7 million. Hence its not wise to make a new ASIC for their algo because there isn't enough money to be made, and also the risk that they might fork to a different algo is great. BTC most likely will never switch algos hence why money is spent on research and developement for Antminers instead of alt-coin ASICS.

[Ursul0]

no matter what they change, chinese can reprogram a new asic board with the correct code to work with the new monero algo, let alone fpga that can be reprogrammed again and again, even if this is memory intensive, monero is big enough to encourage the makiing of an asic for it

Its not that easy to reprogram a new ASIC board. Its needs extensive research to be effecient and needs to be fabricated at a plant. Last estimate I heard it was a few million at least just to get it fabricated. After you get it fabricated you can easily just put it into an existing ASIC board like an Antminer.

However keep in mind that the Miners revenue for XMR is about $90K a day according to,
https://bitinfocharts.com/monero/

If you look at ETH its $2 million and BTC is $13.7 million. Hence its not wise to make a new ASIC for their algo because there isn't enough money to be made, and also the risk that they might fork to a different algo is great. BTC most likely will never switch algos hence why money is spent on research and developement for Antminers instead of alt-coin ASICS.

exactly. you actually need to develop a chip that will be efficient enough to perform a particular algo and then fab it and bring fast enough to market before algo changes - ASICs for monero becoming less realistic. btw what's up with CN8 asics or what was it?

[Ayers]

no matter what they change, chinese can reprogram a new asic board with the correct code to work with the new monero algo, let alone fpga that can be reprogrammed again and again, even if this is memory intensive, monero is big enough to encourage the makiing of an asic for it

Its not that easy to reprogram a new ASIC board. Its needs extensive research to be effecient and needs to be fabricated at a plant. Last estimate I heard it was a few million at least just to get it fabricated. After you get it fabricated you can easily just put it into an existing ASIC board like an Antminer.

However keep in mind that the Miners revenue for XMR is about $90K a day according to,
https://bitinfocharts.com/monero/

If you look at ETH its $2 million and BTC is $13.7 million. Hence its not wise to make a new ASIC for their algo because there isn't enough money to be made, and also the risk that they might fork to a different algo is great. BTC most likely will never switch algos hence why money is spent on research and developement for Antminers instead of alt-coin ASICS.

chinese don't care too much about huge profit, they will follow every profit there is out there, take a look at baikal miner, they made an asic miner for every shit algo, even those that were almost dead, if there is profit, asic will come one day, you don't need bitcoin capitalization to develop an asic for an altcoin

chinese also can have chips and other stuff at cheaper price

[pishite]

Well done guys who are struggling with asic, but most likely they will come up with a different coin mining algorithm: pos, dpos, since often changing algorithms is quite expensive for developers, since you need to rewrite the code for a new type of mining.

[adaseb]

The last miner hardware which was released or used to mine XMR last algo wasn't an ASIC. I am pretty sure it was an FGPA and from what I've read it was also developed in private.

Only way the developers knew its existence is from some 3rd party researcher that noticed anamolies in some of the block data and he posted his findings on medium.

They probably kept it a secret because they didn't want the XMR dev to fork the algo earlier however they were caught anyways. This was for an FGPA but an ASIC would have too long of a timeline and cost to make it feasible for any algo that XMR uses.

[Metroid]

The last miner hardware which was released or used to mine XMR last algo wasn't an ASIC. I am pretty sure it was an FGPA and from what I've read it was also developed in private.

Only way the developers knew its existence is from some 3rd party researcher that noticed anamolies in some of the block data and he posted his findings on medium.

They probably kept it a secret because they didn't want the XMR dev to fork the algo earlier however they were caught anyways. This was for an FGPA but an ASIC would have too long of a timeline and cost to make it feasible for any algo that XMR uses.

One of the reason monero has been unable to be a gpu profitable coin, too many fpga's on it and those people can change fast to whatever xmr algo it is using and reason investors are not buying xmr anymore.

[Marvell2]

The last miner hardware which was released or used to mine XMR last algo wasn't an ASIC. I am pretty sure it was an FGPA and from what I've read it was also developed in private.

Only way the developers knew its existence is from some 3rd party researcher that noticed anamolies in some of the block data and he posted his findings on medium.

They probably kept it a secret because they didn't want the XMR dev to fork the algo earlier however they were caught anyways. This was for an FGPA but an ASIC would have too long of a timeline and cost to make it feasible for any algo that XMR uses.

One of the reason monero has been unable to be a gpu profitable coin, too many fpga's on it and those people can change fast to whatever xmr algo it is using and reason investors are not buying xmr anymore.

hopefully randomx slows the fpga crowd for six months at least