Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
dEBRUYNE
on 11/11/2019, 18:45:30 UTC
An article worth reading reading Coinbase's view of Proof of Work:
https://blog.coinbase.com/how-coinbase-views-proof-of-work-security-f4ba1a139da0

"Claim one: It is a security feature for a particular coin’s mining operations to be the dominant application of the hardware used to mine that coin."

If this statement is correct, and I think it is, then the whole XMR's strategy of forking the hashing algorithm to foster CPU mining is unintelligent.

You can read my response to the article here:

https://www.reddit.com/r/Monero/comments/du2m7i/coinbase_blog_criticizes_monero_pow_philosophy/f71lt09/


Let's stop forking the hashing algorithm after RandomX (which will fail to achieve the stated goal, like every other attempt) and embrace specialized mining. Enough time has been lost.

That's the intent, i.e., the current 'contingency' plan is to switch to an ASIC friendly algorithm (such as SHA3) in case of a RandomX failure.