bitcoin-dev

hashcash-newhash

hashcash-newhash

Original Postby ZmnSCPxj

Posted on: May 24, 2020 16:51 UTC

The discussion is about the possibility of ASICs becoming obsolete and the need for preparing algorithm changes.

However, it is important to be clear about the goals because any chosen solution may not be the best way to fix the problem. The issue with a scripting language is what code written in that language will be accepted and how. There are questions on whether miners vote on a new script describing the new hashing algorithm, what their incentive would be to obsolete their existing hardware, and how hashpower is measured via a hashpower election. Access to hardware that can do mining is also discussed as an equally large factor as the cost of power, but anyone who is capable of selling hardware or expertise to design and build it can earn by taking advantage of their particular expertise. Furthermore, the discussion also touches on improving electricity availability in expensive areas as a way to improve decentralization. However, there may not be any good software-only solution to the problem because energy, or the lack thereof, is the hardest to abstract away.