How to prevent ASIC for my new Atlcoins?

[firebird2490]

I want to create an altcoin that is a clone of Bitcoin. I want the mining to be ASIC resistant.
Are there any steps which I should include in my Altcoin's mining algorithm to prevent ASIC Mining?
Do I need to implement a completely new algorithm for mining?[/b]

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[bathrobehero]

Only the most successful coins have enough money behind them for people to afford designing ASICs because ASICs are very expensive and take a long time to make.

So there are literally dozens of algorithms already used only by CPUs and GPUs and it would probably be best if you would pick one instead of coming up with a new one that might not work out well.

Or, you could pick more than just one algorithms working in parallel so even if one algo will have an ASIC, it's unlikely more algos will also have them. Digibyte, Joincoin, Myriad, Verge, Aurora are all examples of multi algo PoW.


And there are coins which just promised to change the algo with a fork if ASICs were to come out.

[YIz]

Make a clone of Ethereum or Zcash, both are ASIC-resistant.

[firebird2490]

@bathrobeHero
Ok....But if i am launching new currency then how should I prevent 51% attack, because in mining already people have setup mining farms.

@Ylz
No None of them is ASIC-Resistant.

[YIz]

@bathrobeHero
Ok....But if i am launching new currency then how should I prevent 51% attack, because in mining already people have setup mining farms.

@Ylz
No None of them is ASIC-Resistant.

You are saying Dagger and Equihash are not ASIC-resistant?

[Amph]

there is no such thing as asic resistant or proof, there is only asic-deterrent, you can just delay the asic mining it if your coin will be not popular enough and without a high marketcap

[Divorcion]

resistance means here more the economic aspects of using asics.

[YIz]

there is no such thing as asic resistant or proof, there is only asic-deterrent, you can just delay the asic mining it if your coin will be not popular enough and without a high marketcap

You can't make it impossible, but you can make it very difficult to implement on anything but GPUs or CPUs.

[adaseb]

What is so special about your coin that it needs to be ASIC resistance?

[firebird2490]

I come up with new currency and someone else has a 51% or more stake, would that someone be able to control the flow of currency? Duh! obviously.........Then what's the point of a decentralized cryptocurrency if one person has control of how much cash is in circulation?

[tbolt256]

Is it possible to have a web browser based mining algorithm? If there is a browser based miner, would it be ASIC-deterrent by default or not?

[Amph]

you could also do a coin that is first pow and then pos, so asic don't have the time to enter in play pretty much like etheruem, in this way will be by any means asic-proof

[Divorcion]

you could also do a coin that is first pow and then pos, so asic don't have the time to enter in play pretty much like etheruem, in this way will be by any means asic-proof

I think this is even worser, i don't like coins which have 5 days of mining and then are going to be completely pos, think it's fishy.

[Amph]

you could also do a coin that is first pow and then pos, so asic don't have the time to enter in play pretty much like etheruem, in this way will be by any means asic-proof

I think this is even worser, i don't like coins which have 5 days of mining and then are going to be completely pos, think it's fishy.

not 5 days, i said like etheruem, you can do 1 month at least or 1 years, so you give time to enter the pos stage and meanwhile miner are happy to mine it

[Divorcion]

you could also do a coin that is first pow and then pos, so asic don't have the time to enter in play pretty much like etheruem, in this way will be by any means asic-proof

I think this is even worser, i don't like coins which have 5 days of mining and then are going to be completely pos, think it's fishy.

not 5 days, i said like etheruem, you can do 1 month at least or 1 years, so you give time to enter the pos stage and meanwhile miner are happy to mine it

Yes true, in this way it is much better.