Quote from: bengx on June 29, 2014, 07:07:38 AM

Quote from: jk_14 on June 29, 2014, 06:46:51 AM

Quote from: Vertcoin on June 25, 2014, 06:51:01 PM

Let's me summarize for you.

1. Scrypt-N ASIC, We have looking for another algorithm already. We have planed to implement it in GPU and CPU miner after we released Stealth Addresses.

2. Multiple PoW, In order to change to the new algorithm, it must be smooth transition as much as possible. We have planed to implement multiple PoW from Scrypt-N to the new algorithm. According to the plan, it will be Scrypt-N -> New Agorithm + Scrypt-N -> New Algorithm.

3. Multipool & Inflation, We still discussing the solutions with team members to find the best way to solve it, but it will do nothing until we released Stealth Address.

4. Stealth Address, It is in progressing.

Thanks,
bushido

That would be first multi-PoW coin, am I right?

OK, but current situation insists for being open-minded...

Why this above can't be done a bit more flexible?

Scrypt-N -> Scrypt-N + X11 (or X13 or X15, whatever) -> New Algorithm + Scrypt-N + X11 -> New Algorithm

This first change should be done as soon as posible, this would give us more time for good choice of New Algorithm

and maybe for a best 'GPU only PoW' worldwide contest (vide: SHA-3 case for instance)

btw:
"Have you determined Ethereum's proof of work algorithm, and is it possible to describe in laymans terms?
A: We are planning on holding a contest in the style of NIST's AES contest for both the academic and open source communities to participate in. Our goal is to offer a large bounty for the first team to produce (...)
However, our latest line of thought is a memory-hard proof of work based the blockchain data itself. The precise algo would be: H = SHA3(block header ++ nonce)[12:] for i in [0...7] A = first address in blockchain state tree after H B = balance(A) H = SHA3(block header ++ nonce ++ A[0] ++ B[0] ++ ... ++ A[7] ++ B[7]) SUCCESS = 1 if H < 2256 / difficulty else 0 This has the following advantages: Extremely memory hard to compute; makes Dagger look like a child toy Extremely easy to verify"

http://www.reddit.com/r/IAmA/comments/1xb5rj/hi_were_the_ethereum_founding_team_ask_us_anything/

The first multi-PoW coin would be Myriadcoin.

I think it's not the same. Myriad their algorithms used separately. For example. who has the ASIC he mining with SHA-256. Who has the graphics card he can work with other algorithm, for example. scrypt. Thereby using uses different mining software for each algorithm. If I understand correctly, vertcoin should mix more algorithms.