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Bitcoin Gold’s New Equihash-BTG PoW Algorithm
13 Jun2018
Bitmain’s Equihash ASIC miners Z9 mini as well as Innosilicon’s A9 ZMaster are apparently being shipped and are getting into the hands of some users already. This essentially makes mining Equihash with GPUs pointless and not very profitable, so ZCash (ZEC) is already in the territory of ASIC miners, but not all of the crypto coins that used Equihash are going to just move from GPU mining to ASIC miners. Bitcoin Gold (BTG) for example is going to switch to a new proof of work algorithm they call Equihash-BTG which is essentially a modified version of the Equihash algorithm that will not be ASIC mineable.
Equihash-BTG is essentially going to fork to a modified version of the Equihash PoW algorithm with parameters that will require significantly more memory thus making ASIC miners harder to be made for it and no so efficient. We have already seen that with ASIC miners having a higher memory requirement makes it not impossible, but more like much less efficient performance wise if we consider as an example the Bitmain Antminer E3 ASIC miner for Ethereum’s Ethash algorithm. So Bitcoin Gold (BTC) will not become ASIC resistant forever with its algorithm change, but it will be safe for quite some time at least as we all know when there is an incentive (a lot of money involved) nothing can stop the ASIC miners.
The change of the PoW algorithm used by Bitcoin Gold will become active with a Hard Fork, though there is still no information or a planned block number or date when the fork will happen. So for the moment BTG is still using Equihash and can be mined using ASIC miners designed for this algorithm, but when it switches to the new algorithm it will be GPU mineable again and hopefully it will be still worth mining it by that time.
– For more details about Bitcoin Gold’s new Equihash-BTG PoW algorithm…
- Publihsed in: Crypto Coins
- Related tags: Bitcoin Gold, Bitcoin Gold ASIC resistance, Bitcoin Gold fork, Bitcoin Gold new algorithm, BTG, BTG ASIC resistance, BTG fork, BTG new algorithm, Equihash-BTG
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4 Responses to Bitcoin Gold’s New Equihash-BTG PoW Algorithm
yourSister
June 13th, 2018 at 17:31
I don’t understand why some coins make so much trouble because of asics… as you said, nothing can stop asics, so why that hard forks? just because an asic is coming to business?? thats stupid.
I’m sorry for all gpu-miners, but they have to accept that the time of gpu mining is step by step gone! stop crying and switch to asics..
dark oopa
June 13th, 2018 at 22:13
Yeah, because nothing says “decentralisation” more than a POW algorithm mined by hardware made mainly or only by one compagny and mostly owned by very few big farms…
John
June 21st, 2018 at 12:35
I’m sorry for all asic-miners, but they have to accept that the time of asic mining is step by step gone! stop crying and switch to gpu..
Raziel
June 22nd, 2018 at 02:29
“Yeah, because nothing says “decentralisation” more than a POW algorithm mined by hardware made mainly or only by one compagny and mostly owned by very few big farms…”
Good thing in gpu mining we have 15 companies not only amd who is producing good gpus for mining, plus those coins arent owned by very few big farms because of that /s