Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏
by
Solution42
on 11/03/2018, 19:32:49 UTC
ASICs for cryptonight were recently announced.  How is the Sumo team going to address this issue?

This ASIC (if a 60Watt ASIC really exists) has an output of 20 kH/s.

Now bare with me

Sumokoin has a global hashrate at the moment of 20 MH/s while its peak was 60 MH/s. Lets use an average of 40 MH/s
In order just to double the average total network hashrate of Sumokoin, which is 40,000kH/s, it would take 2,000 ASICs mining Sumokoin only.
Each ASIC costs 3600$, which means that people will have to spend 7.2 million dollars to buy ASICs and mine only Sumokoin with them
This is 2.3 times more money than the entire Sumokoin current marketcap

Now lets talk about Monero, Monero's average total hashrate is 1 GH/s https://www.coinwarz.com/network-hashrate-charts/monero-network-hashrate-chart
In order just to double the average total network hashrate of Monero which is 1,000,000kH/s it would take 50,000 ASICs mining Monero only.
Each ASIC costs 3600$ which means that people will have to spend 180 million dollars to buy ASICs and mine only Monero with them.

Baikal must produce and sell hundreds upon hundreds of thousand asics for them to have any actual effect on any coin

IMHO it would be irresponsible to risk the integrity of the coin for an insufficiently proven threat.

EDIT: If an ASIC with an output so large that can potentially affect our network's total hashrate is produced in the future then we will start considering a solution, but that's a hypothetical issue, not a real current one, so we wish to remain focused on improving our coin cryptographically atm.


Maybe a better question would have been 'is it an issue?'  Apparently not.  Thank you for your explanation.