Altcoin Name: Ethereumsocial
official telegram: https://t.me/ethereumsocial
official discord: https://discord.gg/h6vsEuw
Algorith: POW:Ethash (with low Memory requirement?)
Roundup: This looks to be almost a straight clone of Ethereum by a South Korean web agency, I assume this means something like an Internet Ad Agency or promotion company.
It claims to be more Asic resistant but it’s details on it makes almost zero sense, here is their exact quote:
“Since we have low dag memory requirement Ethash ASIC miners wouldn’t be able to mine ETSC effectively.”
What the DAG is is a memory requirement to mine the coin, right now ethereum 4gb cards are coming to their end and won’t be able to mine, this was actually the original ASIC resistance as the high memory was a hindrance to ASICS. This coins idea is lower the DAG extremely and flood it with GPU that ASICS won’t be as efficient due to a high difficulty.
This makes ZERO SENSE, this just means the higher hashing ASICS will still be able to hash and especially once they are eventually phased out and removed from the main network when the DAG grows too large and a newer ASIC generation replaces them. So this will just be flooded with asics in time and make it a GPU only coin.
This coin has no reason to be, it has no benefits of the original ethereum and is a fork because it’s a hot topic, it doesn’t solve anything and actually fails where it tries to change.