I posted this in the Ravencoin thread, but I think it's relevant here, as well.
There are some interesting comments by Kristy-Leigh Minehan (OhGodAGirl), CEO and Cofounder of
Mineority, on the subject of ASIC resistance. Jump to 12:45 where she starts with, "No Proof of Work is safe."
https://www.youtube.com/watch?v=A3i3jpJqgooParticularly at 14:47, "There is no such thing as ASIC resistance."
Would love to hear your thoughts on this, Kirk.
Hey pixel8or,
Kristy-Leigh is spot on. The design of Lyrs2REv2's defensive mechanism is in multi algorithms. It only takes a manufacturer to develop a multicore board to break this. You can chain more algo's but this is not a good solution. Changing algo's won't have much effect as you can just send out an update to change the algo on the chip.
I don't have a solution and at present, there isn't a holistic solution in the market.
Our intentions with our graduate program are to develop new ideas to defend against ASIC miners and/or delay the ability for asic miners to overtake the hash power of our network. Forking the coin to a new algo is definitely on the cards once ASIC mining is readily available for Lyrs2REv2.