[poll] Is there room for another new Hashing Algorithm?

[mammix2]

Im running a poll to find out what the community thinks about creating a new Algorithm or set of Algorithms to help keep Altcoins away form ASIC mining

Please vote. Thanks

[atoni]

I think there is room for many new algorithms. Currently there is only about 1000 alt coins and that is not even nearly enough. IMO until there is 1 altcoin for each person on the world the job here is not finished. Instead of starting a poll you should have already created your coin, or a couple of them.

[Spoetnik]

beating a dead horse..

there is other forum sections here eh and all combined this has been discussed.. more than enough

[gjhiggins]

Currently there is only about 1000 alt coins

Sort of. According to our count (of “mooted” coins, not necessarily launched or even completed development) the total has now reached 1400+. Currently reads 1357 in total, another 4 dozen to add imminently.

The complete list and the metadata we collected is published using semweb tech: DOACC
https://github.com/DOACC

There's a softer, more immediately-accessible arty presentation:
* “All teh coinz”: with logos, all on one page:
   http://minkiz.co/coin/
* “To-day we had the naming of parts”: names & symbols, alphabetically organised, in tabs for easy navigation
   http://minkiz.co/coin/name/
* “A Clash of Cymbals”: symbols & names, alphabetically organised, in tabs for easy navigation
   http://minkiz.co/coin/symbol/

and ... more pertinent to this thread:
* “Foundry”: Bitcoin Core templates in the algo of your choice - a variety of hashing solutions (i.e. a list)
   http://minkiz.co/foundry

I was able to make use of this detailed background to work out some potential optimisations for QubitCoin’s hashing algos and wrote a technical post about it which contains a lists of hashing algo and links to listing and benchmark sites:
https://bitcointalk.org/index.php?topic=411065.msg7887013#msg7887013

Question is, how many of the existing algos have not yet been used in altcoins? The Hash Function Zoo is a good place to fossick for hashing algos:
http://ehash.iaik.tugraz.at/wiki/The_Hash_Function_Zoo


Cheers,

Graham

[atoni]

Yes but what is 1400 compared to 7 billion? There is still long way to go so OP should start programming instead of hanging out on forum.

[mammix2]

Yes but what is 1400 compared to 7 billion? There is still long way to go so OP should start programming instead of hanging out on forum.

Dude, i already code coins, check my previous posts 

[Conqueror]

Of course there is.

Neoscrypt is promising example aiming to solve current Scrypt crisis:
https://forum.feathercoin.com/index.php?/topic/7486-official-feathercoin-newsletter-34/
(check chapter 2)

[krisdavison]

I think neoscrypt is exactly what many coins have been waiting for to fix the scrypt problem. ASICs are here already and the majority of miners have GPUs not expensive ASICs which is causing centralisation. Never a good thing for a decentralised currency.

From what I've heard neoscrypt is an updated version of scrypt but I guess we will have to wait until the go live date to see exactly what's inside.

Feathercoin is a real leader in this space. Which is likley due to its established community and long term vision!

[tromp]

Most PoW coins use the hashcash algorithm, with varying hash functions.

Your thread title contributes to the common misconception that all PoWs are of this form.

More interesting are asymmetric algorithms, where verification time/memory
is unrelated to (and often negligable compared to) proof-attempt time/memory.

Examples: Primecoin, Momentum, MemoryCoin2.0, Cuckoo Cycle.

[mammix2]

thanks for the replies, looks like the Yes vote is wining, most people are still interested in seeing new Algorithms in coins...

Keep voting...

[hamiltino]

who cares hashing algorithms all do the same thing, that is POW.

[FeelTheBeat]

Yes we need new algorithm that again give boost to GPUs.

[newuser01]

Room? yes

but why?

you only need so many asic-resistant algos..

[Amph]

Yes we need new algorithm that again give boost to GPUs.

the problem is renting now, not asic

we need something against renting

[wunkbone]

Yes, we need a algo that is ASIC and FPGA proof.

[FeelTheBeat]

Yes we need new algorithm that again give boost to GPUs.

the problem is renting now, not asic

we need something against renting

Also this yes. I am small miner with one 280x and 270 and for six months I have been mining with profit, but now I just turned off my rig (also because of summer) and bought Xeon E3-1230 v3 and rather play games than mine with loss.

[vizay]

there's always room for n + 1 algos, however it's very much a dog eat dog world. For each new algo that pops up it has to kill another one off, effectively making the existing algo obsolete in some way, in order to become big.

So room for more, yes, room for more widely used algos, not really.

With that said, I strongly believe that we'll achieve something truly great with FTC and the new algo. Our developers have put in a lot of great work and it looks promising (god I'm gonna stand with my pants down and feel ashamed after this statement if the algo takes a complete nosedive ). Scrypt has served it's purpose as an algo for GPU mining, that time's over now and a successor is very much needed. X11 and Scrypt-n hasn't quite managed to step up and become that, so at the moment I'd say there's a free space up for grabs in the room right now.

[digitalindustry]

{sigh}

there will always be new hashing algos and new bunches of functions - that is the permanent solution to Proof of work

so if  there is for example 10 Algos in the market

how many PoW functions can you make out of those ? 

now include the fact that you can add random functions.

what's the number now?

comprehending?

so if its a new single algo - heres how it will be judged in future:

on its voltage efficiency - and how well it adapts to  CPU:GPU in ratio to one another. 

[thenite0wl]

best recent algo for miners was fresh. i'd like to see a clone with better features.

[ChekaZ]

Brace yourselves, NeoScrypt coming to rescue GPU mining. Feathercoin Develpment Team did it.