Zcash group is discussing attempt to block asics

Zcash is an anonymous transaction focused cryptocurrency that runs the Equihash algorithm. The Equihash algorithm had been only open to GPU miners until the Asic company Bitmain Announced the Z9 mini. This was a massively disruptive announcement from Bitmains side as it has the hashing power of over 13 gtx 1080ti’s. The 1080ti is currently the post powerful consumer GPU on the market, so this was going to essentially push Zcash into Asic only territory quickly.

The zcash foundation has announced they are op to blocking Asics through a revamped Asic resistance (this would be most likely done through an algorithm change). Although they plan on it being voted onĀ  through the community and won’t make the changes without the community approval.(Some in the Zec community are saying this vote is not binding and could just be for data purposes)

Here is where this all gets messy, Bitmain has been known to mine on their Asics before selling, these miners are scheduled to be released very soon, were talking mid June to July. The community vote and implementation could take up most of the foundations time and get the resistance pushed out around the November time, which means the network will see dramatic difficulty increases, this will turn the GPU miners off by making them unable to obtain anything close in rewards for their hashrate.

At least the community is fighting back against Bitmain albeit a little late after these miners hit the street. This does make me worry Bitmain will change their tactics on releasing Asics for Altcoins. If Bitmain starts only selling to a few buyers and make them sign NDA we might have a hard time finding out if Asics are live until it’s far too late.

-Monarch

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About the Author: Monarch

The main poster and owner of Monarchcrypto.com , I am trying to use the site to share correct information in a sea of lies and manipulation that is the cryptoworld.