Re:Ethereum is a next-generation cryptocurrency platform
by ogreyonder on Friday January 24, 2014 @12:09PM
(#7115985)
A hybrid system sounds reasonable, but I'm more interested in how they think that Dagger is ASIC-proof. I can't tell without a real description of the algorithm, but what is presented doesn't seem hard to parallelize.
Re:Ethereum is a next-generation cryptocurrency platform
by rdn on Friday January 24, 2014 @02:48PM
(#7117451)
Someone pointed that out to them,
https://bitslog.wordpress.com/2014/01/17/ethereum-dagger-pow...
And now they've stated,
"We have made a preliminary decision that we likely will fund a contest, similar to that used to develop AES and SHA3, to determine the best ASIC-proof (ie. going beyond just "memory hard" as a heuristic) mining algorithm" http://www.reddit.com/r/ethereum/comments/1vh94e/dagger_upda...
http://www.reddit.com/r/ethereum/comments/1vh94e/dagger_upda...
Not just in this link but in another that I cannot find, the devs seem to be leaning towards a bybrid PoW/PoS system like Peercoin.
Edit:
Quote was, "We will switch our PoW from Dagger to a hybrid PoW/PoS system to be developed via a bountied competition conducted by our university partners and open to the general community for participation." from https://bitcointalk.org/index.php?topic=428589.0;all.