Asic proof coin

Asic proof coin

Asic-coin utilizes a proof-of-work (pow) blockchain, forked from ravencoin, which in turn was forked from bitcoin. It inherits the best transactional capabilities of bitcoin and combines them with the fast block time and proven difficulty adjustment of ravencoin.

  quote there are only 2 truly asic proof coins, which will never be able to be mined with asics. Both have part of the mining rewards going to people using their gpus and cpu to do work on the home and boinc projects. Both of which will never just be a simple algorithm that can be turned into an asic.

Asic (application-specific integrated circuit) is a microchip designed to execute a hashing algorithm as fast as possible. It is built for a custom single hash algorithm, and has the ability to calculate 100,000 times faster hash than the best cpu. Cryptocurrency coins, likes bitcoin and litecoin, are based on asic mining.

  when a coin or cryptocurrency says asic resistant then it means there is no asic machine or solution developed yet to mine the coin. It can only be mined using consumer grade hardwares like cpu and gpus. As time goes someone may or may not develop an asic for that coin or algorithm because technically asics can be developed for any mining algorithm.

Meaning there were no custom hardware device on the litecoin network. However in 2013 the first asic for scrypt algorithm appeared. Since then cpus and gpus are no longer used for mining litecoin and other scrypt based coins.

  to mine these coins, the best asic miner is 1- antminer l3 antminer l3, worlds most popular scrypt miner, may be hard to obtain but has an incredibly efficient performance.

Bitcoin gold forked coin from bitcoin in 2017 aiming to make mining asic resistance and democratic way by creating a version of bitcoin that is mineable with gpus. 25 btg as mining reward and blocks created in every 10 minutes but it uses the zhash pow algorithm which is asic resistance to give preference to the gpu miners.

Ethereums proof-of-work mining algorithm is designed to be asic-resistant. Basically this means that using an asic should not be beneficial enough to warrant the high cost of asics. Yes, an asic gives you a lot of hashing power, but it costs a lot. So the question you need to ask yourself (and possibly research) is whether the high cost of an asic can be compensated by its sheer hashing power.

Latest news about Asic proof coin

Asic proof coin

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