Indeed, amidst what has been broadly called a “war on miners,” with cryptocurrencies including ethereum, monero and siacoin taking aggressive steps to limit the effectiveness of certain types of hardware, developer Cody Burns has published a proposal that would alter ethereum classic’s underlying algorithm to accommodate the technology.
If accepted, the change would make ethereum classic something of an anomaly among major cryptocurrencies, whose communities have largely viewed the powerful mining machines in question – application-specific integrated circuits (ASICs) – as a threat to maintaining an open competition for the rewards on their respective blockchains.
But if there’s a general fear over how ASICs could upset the balance of major cryptocurrencies, it’s not without good reason. In the minds of many crypto enthusiasts, the concerns aren’t just speculation, they’re an inevitability based on historical data.
Case in point is the bitcoin blockchain, which saw less expensive, and less effective, graphic card mining eclipsed by not just ASICs, but by a few large companies that came to dominate their creation, marketing and delivery.
As such, the argument among many developers is that the release of ASICs is so problematic, it’s worth updating the software just to avoid them. (Monero’s developers, for example, went so far as to ask all software users to install new code earlier this month that would resist ASIC mining.)
But Burns sees another way, finding issue with a prevailing view he believes has turned the successful companies that today secure and process cryptocurrency transactions into boogeymen.
Burns told CoinDesk:
“The chief complaint I hear most often is not that ASICs are themselves bad, it is that Bitmain is the sole source of the ASICs.”
And, he believes, the only way to increase competition in the ASIC manufacturing space and keep centralization at bay is by allowing ASICs to run rampant.
As such, his proposal, ECIP-1043, looks to remove a mechanism by which ethereum classic’s algorithm creates random variances in its memory storage requirements, code originally put in place to reduce the effectiveness of ASICs.
Good for GPUs too
But if that sounds controversial, Burns thinks it’s still possible to win support for the idea.
For one, not only will the change allow for ASICs to mine ethereum classic, but as it decreases the need for extra computer storage, it should also lower the cost of GPU mining – something likely to win over existing miners who are reluctant to pay for new and improved hardware.
To do this, Burns wants to delete ethereum classic’s so-called “DAG” function.
One of the aspects that ethereum classic still shares with its rival ethereum is that every 100 hours – or what’s called an “epoch” – the DAG adds random data to the blockchain, which in turn causes the storage requirement for mining chips to grow.
In order to mine ether or ether classic, then, mining hardware must contain sufficient memory, or RAM, to store this graph, as well as backup storage, as the memory requirement increases…