Be careful in saying this and believing it is the "truth". The same were said of Scrypt, Equihash, and Cryptonight. But they ended to have ASICs built for them. How can you give assurance of ASIC-resistance?
I believe "ASIC-resistance" has become a buzzword.
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I will give the benefit of the doubt. But I believe Jihan Wu won't.
The beauty of computer science is that it is no magic, just pure mathematics. No matter how expert or wealthy a cracker is, he just can't build a specialized device with much more than 2x efficiency for Ethash or 1.2x for ProgPoW. This is how it works in the real world. You take Bitmain too serious, imo.
No, I take what's in front of me as evidence that "ASIC-resistance" is becoming another buzzword marketing tool for altcoins that use POW.
Plus can you give us the sources on where you got "2x efficiency for Ethash or 1.2x for ProgPoW"? Thanks.
No hash power cut-off. Imagine we implant a secondary ASIC-resistant cpu/gpu friendly algo (like ProgPow) and define two parallel difficulty adjustment systems which regulate blocks mined by sha2 at 11 blocks per every 2 hours ratio while gpus are set to generate 1 block in the same window also suppose we use a gradual re-adjustment policy by introducing a decrease/increase strategy for above parameters. See? no cut-off!
Back to this. How can the network be assured that the hardware behind the hash power of the new algorithim will make up for all the ASIC? Won't buying all the generic machines needed to mine make it more expensive to maintain the same hash power?
We should show this topic to someone from the mining subforum, and make a more productive discussion out of this.