Zcash [ZEC] analyses ASIC miners in the community of Zcash – Equihash
Zcash [ZEC] Foundation on 7th June, 2018 has officially handed over the task of ASIC miner investigation to Luxembourg University researcher. The two distinctive researchers associated with the University of Luxembourg are Daniel Feher and Alex Biryukov. The research revolves around the involvement of ASIC miners in Zcash [ZEC] and Equihash community. BCFocus has previously reported about the increase in Zcash [ZEC] price by 50% in the month of May, 2018.
Zcash [ZEC] on 8th May, 2018 posted on its blog stating “The ASIC resistance question has taken on new urgency now that Bitmain has announced the availability of the AntMiner Z9 mini, an Equihash-focused ASIC that seems tailor-made for Zcash, shipping in late June.”
This clearly implies the necessity of adopting ASIC by Zcash [ZEC]. The feedback and suggestions from the ecosystem is first collected before considering the decision. In all probability the recent ASICS are more updated than it was expected. It also has the ability to handle diversifying aspects of Equihash.
ASIC or Application Specific Integrated Circuits are basically the chips that are developed for processing audio and handling calls on cellphones. In the present times, mining cryptocurrencies without ASIC hardware miner is impossible. Specific cryptographic algorithm is allotted for each digital currency. These algorithms are used by ASIC miners for mining specific cryptocurrencies. One of the prominent and largest ASIC miner maker in the world is Bitmain. The interdisciplinary centre at the University of Luxembourg is accountable to design Equihash.
Equihash is selected by Zcash for the ASIC traits, thereby, increasing accessibility of the network to the small miners. These small scale miners assists in creating a market balance to more capable miners.
In this context, the researchers have commented,“In the short period of time of this study (2 weeks) we could put an upper bound on the ASIC/FPGA potential presence in Equihash mining ecosystem as of end of May 2018 at 20 – 30% of total mining operations. Most of the mining power (95%) is concentrated in pools so any large hidden ASIC/FPGA operation should be present in one or several of the pools, moreover four pools concentrate 87.5% of the total mining power.”
They also stated,“It is important to note that our current methods can be ‘fooled’ by careful ASIC miner and the methods are also not fine-grained enough to detect ASIC miner testing of few % of the total hash-rate. This is a work for further research.”
On Twitter, Rajer Fedz, who takes keen interest in cryptocurrency posted,“If they are smart enough to make ASICs for Equihash, they are smart enough to work around this. The goal was not ASICs, the goal was ASICs with Stealth Mining.”
Image via Google
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