Re: [LTC] Changing the litecoin Proof of Work function to avoid ASIC mining?
My vote is on NO.
For the most secure network possible, ASICs are needed. Nothing is ASIC proof, changing the PoW is just delaying the inevitable. ASICs will come to Litecoin if they are economically feasible, no matter what PoW is implemented.
Not to mention the electricity that will be saved is a good thing for planet Earth!
GPUs are incredibly inefficient compared to ASICs and waste a lot of electricity.
For the most secure network possible, ASICs are needed. Nothing is ASIC proof, changing the PoW is just delaying the inevitable. ASICs will come to Litecoin if they are economically feasible, no matter what PoW is implemented.
Not to mention the electricity that will be saved is a good thing for planet Earth!
GPUs are incredibly inefficient compared to ASICs and waste a lot of electricity.
If ASIC uses 1% of the electricity as a gpu people will just use 100times as many... saves nothing.
now PoS could be a solution to the resources thing.
You have a point. PoS is the only solution to energy savings thus far I agree. I will retract the statement about energy efficiency.
I think my first point though is very valid.