Do we need false resistance?
The problem with picking an algorithm like scrypt is that you are starting with a false assumption of "resistance"(think of a cheap watch that says water resistant)
resistance is not the same as proof! e.g Litecoin started by saying GPU,FPGA,ASIC resistant this has now changed over time to just be Asic resistance, can you see the problem?
Why is it a problem for Scrypt?
Because as the algorithm became more popular and other people starting working on ways to mine scrypt they found ways to mine it on GPU and FPGA thus the so called "resistance" is a flawed method!
What's so bad about Scrypt?
to create the resistance the developers have created a linear function which consumes resources on any platform CPU, GPU, FPGA, ASIC
this is bad for Asic development because it costs money for extra silicon space
the reason Asic's are so fast is the they are Application-specific integrated circuit and the more cores you can get on a small amount of silicon space/design area the better as it will result in cheaper and faster designs and thus Asic mining hardware
so you can understand that Scrypt Asic's will cost more and also not be able to scale the cores to get good performance in terms of hashes per second for the end user thus it will be a very long time to get your ROI for a Scrypt based Asic device
The exponential growth of technology is often described by Moore's law and has shown for many years how we will always look for new more efficient and faster ways of doing the same thing
Better Idea?
Pick a fast and well balanced algorithm that can work well on all platforms so when you use it on GPU,FPGA,ASIC you get good performance and lower costs to produce any type of hardware
I think it would be best to have good balance of efficiency, power usage, performance and cost effective implementations on all platforms so when someone wants to spend excessive amounts of money on R&D for a Asic miner they should pick an algorithm that would use very little silicon space = more chips a wafer = cheaper $ per chip
I have picked and modified Blake-256 to fit this exact role as it has a better parallelism than SHA-256 and is faster and uses less resources
First coin to be made with Blake-256 is Blakecoin (named after the algorithm) and is also merge mine capable
unlike Scrypt based coins with Blake-256 we can make new coins and then just merge mine them on pools, we can then just mine pools that merge the coins we like rather than this pick and choose battle that is going on in the Scrypt based alt coin world
I am not a salesman or a marketing guy so I built Blakecoin from a technical point of view with efficiency and long term use in mind and forgot to add the spin and hype
anyway hope I have explained why Scrypt based Asic's are such a risky investment
Merry Christmas everyone
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