Scrypt mining is dead

[Joerii]

Scrypt mining for GPU miners is about to become a thing of the past


Scrypt ASIC miners are about to be unleashed on the market.

KnC, a reputable ASIC manufacturer and  Alpha Technologies, a promising new player, are racing to be the first to deliver super powerful rigs that will blow GPU miners out of the water.

ASIC miners are custom designed machines with chips build specifically to tackle hashing of a particular algorithm. They are much more efficient and the Titan and Viper both look to be around a hundred times more powerful than a Radeon R9 290X, and because they use a fraction of the power to hash, they can mine profitably when GPU’s are reduced to noisy and expensive heating devices.

Thousands of miners with GPU rigs are about to be outcompeted by these new ASIC miners. What happened to SHA-256 based coins when Bitcoin ASICS were launched is about to happen to Scrypt. Bye bye profit.



Enter Hirocoin

Hirocoin neutralizes the ASIC threat by using X11 as a hashing algorithm.  Not only is X11 extremely hard to build an ASIC for, it’s actually more GPU friendly than other non-scrypt hashing solutions, like Scrypt-N or Scrypt Jane.
X11 is a cutting edge algo that uses the following for complex hashing : Blake, Bmw, Groestl, Jh, Keccak, Skein, Luffa, Cubehash, Shavite, Simd and Echo.

It’s GPU friendliness  translates into higher hashrates, lower power and memory usage and even  lower temperatures , making Hirocoin easy to mine for everyone.

Additional reasons to mine and/or invest in Hirocoin are the following  :

• No multipools for X11 yet which strip the profit from regular miners
• X11 is more efficient and thus a greener solution then other algo’s
• A real developer who is dedicated to Hirocoin and has long term ambitions.
• Blockchain secured by KGW, automatic checkpointing and time travel limitation
• Wallet with extra features with ease of use in mind. No need ever to add nodes, for example ( all the features are beyond the scope of this article, stay tuned for Hiro's paper on X11 )
• Exchange rate is very low, so you can still get in on the ground floor.
• No premine !

Visit Hirocoin.org for more information

      

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[reRaise]

Nice post although Quark is still the most secure one:

Quark is using 9 rounds of hashing: while using 6 rounds from Blake, Blue Midnight Wish, Grøstl, JH, Keccak and Skein it adds 3 more rounds of hashing randomly: so the computer doesn't know whether it will be Keccak or Grøstl or Blake. And that's one of the uniqiue beauties of Quark. Unfortunately, Darkcoin or Qubitcoin or Hirocoin don't do that: the computer remains certain about which hashing function will be used.

Another advantage of Quark might be, in this case it was compared with darkcoin, Darkcoin's block generation time is 2.5minutes (150seconds), while Quark is 30 seconds. Which means that Quarks algorithm with an element of randomness (unpredictability) will have to be cracked in 30 seconds to create a double-spend fork, while for Darkcoin this window of opportunity for the attacker is 5 timeslonger: 150 seconds with no element of randomness. If you take all these factors into account, Quark is still the most secure - it's not only about the number of hashing functions."

[redmist]

Looks interesting. You've got some nice ideas so I'll be watching this one.

But just a thought, Litecoin was originally supposed to be CPU mined only, yet someone managed to get GPU's working for it. Litecoin was also supposed to be ASIC resistant, but look whats happening now. Who's to say that won't happen for Hirocoin?

[Hazard]

( all the features are beyond the scope of this article, stay tuned for Hiro's paper on X11 )

A white paper from a guy who stole a bunch of features from darkcoin? Hilarious.

[JimminyCricket]

Interesting article here regarding the future:

http://kolinevans.wordpress.com/2014/03/02/why-there-could-be-a-mini-revolution-occuring-in-crypto-currency/

[majorminers]

So as soon as a new technology enters the market everyone dumps their current equipment?

Not everyone is rich. 

[Joerii]

( all the features are beyond the scope of this article, stay tuned for Hiro's paper on X11 )

A white paper from a guy who stole a bunch of features from darkcoin? Hilarious.

I didn't claim it's Hiro's invention. It's open source and Hiro used it.

...and since there's no good paper on X11 yet, he's going to write one, explaining in detail how it works.

I love your blog cryptolife.net, by the way. Are you going to write about the new algorithms ?

[124C41]

It's evolution baby.
No stealing in open source, just iterations and evolution.

( all the features are beyond the scope of this article, stay tuned for Hiro's paper on X11 )

A white paper from a guy who stole a bunch of features from darkcoin? Hilarious.

[Joerii]

So as soon as a new technology enters the market everyone dumps their current equipment?

Not everyone is rich.  

The title of the thread is provocative on purpose

No, nobody's throwing away any hardware. The race is on for the next tier of cybercurrency.

Bitcoin
Litecoin
Hirocoin ?

Right now the only other X11 coin is Darkcoin. Darkcoin is also excellent, check out their ANN. Darksend is very innovative. What Hirocoin purposefully avoided, however, is an association with being secretive or in darkness. Hirocoin instead strives to be very secure and built with the future in mind.

[Hazard]

I love your blog cryptolife.net, by the way. Are you going to write about the new algorithms ?

I think they're all silly. You can only avoid ASICs for so long. Remember back when litecoin was billed as GPU resistant? Meanwhile artforz was raking in the dough with his private gpu miner.

It's an inevitability unless you plan on hardforking once a year to a new algo.

[Spoetnik]

Scrypt mining for GPU miners is about to become a thing of the past


Scrypt ASIC miners are about to be unleashed on the market.

KnC, a reputable ASIC manufacturer and  Alpha Technologies, a promising new player, are racing to be the first to deliver super powerful rigs that will blow GPU miners out of the water.

ASIC miners are custom designed machines with chips build specifically to tackle hashing of a particular algorithm. They are much more efficient and the Titan and Viper both look to be around a hundred times more powerful than a Radeon R9 290X, and because they use a fraction of the power to hash, they can mine profitably when GPU’s are reduced to noisy and expensive heating devices.

Thousands of miners with GPU rigs are about to be outcompeted by these new ASIC miners. What happened to SHA-256 based coins when Bitcoin ASICS were launched is about to happen to Scrypt. Bye bye profit.



Enter Hirocoin

Hirocoin neutralizes the ASIC threat by using X11 as a hashing algorithm.  Not only is X11 extremely hard to build an ASIC for, it’s actually more GPU friendly than other non-scrypt hashing solutions, like Scrypt-N or Scrypt Jane.
X11 is a cutting edge algo that uses the following for complex hashing : Blake, Bmw, Groestl, Jh, Keccak, Skein, Luffa, Cubehash, Shavite, Simd and Echo.

It’s GPU friendliness  translates into higher hashrates, lower power and memory usage and even  lower temperatures , making Hirocoin easy to mine for everyone.

Additional reasons to mine and/or invest in Hirocoin are the following  :

• No multipools for X11 yet which strip the profit from regular miners
• X11 is more efficient and thus a greener solution then other algo’s
• A real developer who is dedicated to Hirocoin and has long term ambitions.
• Blockchain secured by KGW, automatic checkpointing and time travel limitation
• Wallet with extra features with ease of use in mind. No need ever to add nodes, for example ( all the features are beyond the scope of this article, stay tuned for Hiro's paper on X11 )
• Exchange rate is very low, so you can still get in on the ground floor.
• No premine !

Visit Hirocoin.org for more information

      

i'm gonna be pissed off if your recycling news from last week to scare people into getting involved with this coin and if it is a clone of Vertcoin i'm gonna lose it. lol

even if asics are coming very soon that does not make scrypt dead.. your spinning bullshit so you can hype some other coin.
go fuck your self, your being a weazle here..

[Spoetnik]

I love your blog cryptolife.net, by the way. Are you going to write about the new algorithms ?

I think they're all silly. You can only avoid ASICs for so long. Remember back when litecoin was billed as GPU resistant? Meanwhile artforz was raking in the dough with his private gpu miner.

It's an inevitably unless you plan on hardforking once a year to a new algo.

very smart reply..
i am not too smart on how coins work but my poking around in some of them with miner-mods taught me some stuff.
and i had come to the same conclusion as you.

[HiroS]

Nice post although Quark is still the most secure one:

Quark is using 9 rounds of hashing: while using 6 rounds from Blake, Blue Midnight Wish, Grøstl, JH, Keccak and Skein it adds 3 more rounds of hashing randomly: so the computer doesn't know whether it will be Keccak or Grøstl or Blake. And that's one of the uniqiue beauties of Quark. Unfortunately, Darkcoin or Qubitcoin or Hirocoin don't do that: the computer remains certain about which hashing function will be used.

Another advantage of Quark might be, in this case it was compared with darkcoin, Darkcoin's block generation time is 2.5minutes (150seconds), while Quark is 30 seconds. Which means that Quarks algorithm with an element of randomness (unpredictability) will have to be cracked in 30 seconds to create a double-spend fork, while for Darkcoin this window of opportunity for the attacker is 5 timeslonger: 150 seconds with no element of randomness. If you take all these factors into account, Quark is still the most secure - it's not only about the number of hashing functions."

Neither 9 or 11 is more secure, this is a common misconception. It is just that one is more complex than the other and the more complex the better ASIC protected. Joerii said that Hirocoin is more secure with automatic checkpointing something that Quark also has. 30 seconds may reduce the window of opportunity for double spend but greatly increases the amount of orphan blocks and orphan chains. Automatic will help resolve the orphan chains but it wastes mining power. If you look at coins like Fastcoin it is an orphan generator and uses extreme values. It is not possible to say that Quark is more secure than Hirocoin.

( all the features are beyond the scope of this article, stay tuned for Hiro's paper on X11 )

A white paper from a guy who stole a bunch of features from darkcoin? Hilarious.

The only element used from Darkcoin is X11. We are working in open source development and are trying to evolve the base software of Bitcoin. I am trying to make X11 a standard for others to use which will benefit both Darkcoin and Hirocoin.

Looks interesting. You've got some nice ideas so I'll be watching this one.

But just a thought, Litecoin was originally supposed to be CPU mined only, yet someone managed to get GPU's working for it. Litecoin was also supposed to be ASIC resistant, but look whats happening now. Who's to say that won't happen for Hirocoin?

I see what you are saying and in the long term if X11 is popular then it may well see ASICs. However there are already Scrypt ASICs out there and it will not be a huge task to adapt these to variable N. X11 is much further from custom hardware and allows people to avoid multipools right now.

i'm gonna be pissed off if your recycling news from last week to scare people into getting involved with this coin and if it is a clone of Vertcoin i'm gonna lose it. lol

even if asics are coming very soon that does not make scrypt dead.. your spinning bullshit so you can hype some other coin.
go fuck your self, your being a weazle here..

It is not Vertcoin which uses Adaptive-N, variable N coins give diminishing returns over time and are not practical long term. X11 does not diminish in performance over time.

[Spoetnik]

so i'm right and yes it is in fact a mod of VTC lol

edit:
and then we will of course have mods of all the stuff Scypt faces.. gpu's and ascis etc looming

sorry but it sounds like this so called X11 solves nothing.

[Amph]

scrypt is undoubtedly dead, but not because of asic(not yet at least) but because of market dilution due to shitclones spammed every day

anyway anti asic coin are already there

100% premined coin are anti-mining

[dewdeded]

Small KNC Asic farm.

[reRaise]

Nice post although Quark is still the most secure one:

Quark is using 9 rounds of hashing: while using 6 rounds from Blake, Blue Midnight Wish, Grøstl, JH, Keccak and Skein it adds 3 more rounds of hashing randomly: so the computer doesn't know whether it will be Keccak or Grøstl or Blake. And that's one of the uniqiue beauties of Quark. Unfortunately, Darkcoin or Qubitcoin or Hirocoin don't do that: the computer remains certain about which hashing function will be used.

Another advantage of Quark might be, in this case it was compared with darkcoin, Darkcoin's block generation time is 2.5minutes (150seconds), while Quark is 30 seconds. Which means that Quarks algorithm with an element of randomness (unpredictability) will have to be cracked in 30 seconds to create a double-spend fork, while for Darkcoin this window of opportunity for the attacker is 5 timeslonger: 150 seconds with no element of randomness. If you take all these factors into account, Quark is still the most secure - it's not only about the number of hashing functions."

30 seconds may reduce the window of opportunity for double spend but greatly increases the amount of orphan blocks and orphan chains.

False with the recent update in the Quark wallet, orphan blocks have dropped tremendously http://bitinfocharts.com/comparison/orphaned-qrk.html making Quark really a top contender and king of multiple hashing

[Joerii]

scrypt is undoubtedly dead, but not because of asic(not yet at least) but because of market dilution due to shitclones spammed every day

anyway anti asic coin are already there

100% premined coin are anti-mining

[brokedummy]

Hirocoin is a broken english dev instamine scam. I'm sure we will find better coins to support with asic resistant algorithms than this piece of shit. Keep looking.

[Warning__3]

X11 also makes Nvidia cards suck much less than they do with scrypt and scrypt-n, big win-win for me