Changing the hashing algorithm
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Has the Groestl algo been considered?
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for anyone interested in looking Groestl was one of the 5 finalists for the SHA-3 competition.
The 5 were.
BLAKE, Grøstl, JH, Keccak, and Skein
Obviously keccak won the competition but only due to its innovative approach and not necessarily because of an increased level of security or performance.
http://nvlpubs.nist.gov/nistpubs/ir/2012/NIST.IR.7896.pdf
see section 3 for the selection process and reasoning.
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for anyone interested in looking Groestl was one of the 5 finalists for the SHA-3 competition.
The 5 were.
BLAKE, Grøstl, JH, Keccak, and Skein
Obviously keccak won the competition but only due to its innovative approach and not necessarily because of an increased level of security or performance.
http://nvlpubs.nist.gov/nistpubs/ir/2012/NIST.IR.7896.pdf
see section 3 for the selection process and reasoning.
Thanks for providing more information. I don’t know much about hashing algos, or Groestl, but I do know it’s a new efficient algo for GPU mining (having mined Groestlcoin on my GTX 750 Tis).
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I have been lurking for a while but it seems like the best and most popular thing to do these days with GPU coins is to optimize the algorithm for low GPU power consumption. This gives GPU miners larger electrical cost margins to work with compared to other GPU algorithms. You can also dramatically cut down on heat produced with decreased power usage resulting in lower cooling costs. We have the technical knowhow on the FTC team to come up with an algorithm and I would think in order to generate more publicity we should create our own hashing algorithm rather than recycle another. Drk coin’s algo is way to complex and unless mathematically proven there are probably collisions and shorter ways to get the same hashed result in the algo allowing the creation of super fast and efficient miners. Keep the new algorithm simple and easily provable that there aren’t any collisions or shortcuts in the hashing calculations.
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I like the idea of creating an algorithm, that works with low power consumption on the gpu, but creating a totally new one requires much more work, as a full set oh mining software has to be developed.
Also an intense testing would be needed to be sure, that the algorithm is working as expected and robust against malicious mining attacks of various types.
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Not only mining attacks but crypto attacks to make sure the algo itself could not be bypassed and was robust and secure.
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An important news:
http://www.reddit.com/r/reddCoin/comments/249dnl/major_announcement_reddcoin_to_implment_new/
A new algorithm called Proof-of-Stake-Velocity (PoSV) be born.
https://github.com/reddcoin-project/reddcoin
I think a small miner can be compensated by the contribution in the community.We can set up a fund to solve this problem.
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New ideas for a changing world. 250 FTC to fund if it would be assistance…
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Just wondering how far are we off from new alto, as Scrypt Asic with 90mh/s are now shipping!
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Well it was good mining ftc with GPUs while it lasted, this second gen scrypt asic will move all GPUs out of scrypt within the next month.
I have been mining various Scrypt-N coins for now and doing quite well, just stay ahead of the droves of other GPU miners and profit!
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I’m hoping SuperScrypt will land just in time to save us from ASICs pummelling us. ;D
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Wish I had more free time. It will be done eventually.
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I’m hoping It was a new starting point.
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Let me know if you guys need some hash power for testing the new algo when its ready. I have 6.5 MH/s scrypt-n just having fun currently on random coins and I will be boosting it to over 10MH/s scrypt-n hopefully by the end of June. Ill be coming back to FTC mining once we change over :)
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Hi,
I’m new to crypto so please be gentle…With regards to changing algorithms, the reason ASIC developers create new ASIC is because it can be profitable. Both for the creators of the ASIC and potential miners.
So using litecoin as an example, it became the next best after bitcoin so ASIC developers started working on production units.
Clearly very soon, ltc is going to be for the people that can afford asics.
What if we make the stance that FTC is ready to switch to any one of 2-3 different algorithms at any given moment.
All the homework is in place and all 3 algorithms are tested and ready to implement.Now all of a sudden, there is a deterrent - if it becomes imminent that an ASIC is coming to market for scrypt-n, we can switch.
Now no developer is going to want to develop an ASIC, when they know their product would be useless almost immediately.
Doesn’t really matter what algorithm is switched to.
Thoughts?
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Kind of missed one point.
We don’t have to switch unless needed, if everyone knows we can and will switch that might be deterrent enough for the short term.
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Kind of missed one point.
We don’t have to switch unless needed, if everyone knows we can and will switch that might be deterrent enough for the short term.
We are the same hash as litecoin. Its just as easy to point those asics over to feathercoin as it is to litecoin… add multipools to the mix then we will have troubles.
I was late to this party but i still have 10 mh/s to help test if need be. I’m excited if this can be done…
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The reason FTC has been so successful is its grass roots efforts. I can tell you that I no longer see many of the same people on here any more due to scrypt asics. These members were small home GPU miners that loved our community and shot at the big stage. I will continue to watch the forums here but if the algo does not change every GPU mining forum member will move away as the asics take over. Smaller community = less marketing = lower prices… we want to bring as many miners to our coin as possible.
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The more specialized the algorithm, the less the average user understands it. Also the more holes and fewer eyes to patch them.
What we need is to begin promoting the services and activities we care about.
The technological changes are band-aids.
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The more specialized the algorithm, the less the average user understands it. Also the more holes and fewer eyes to patch them.
What we need is to begin promoting the services and activities we care about.
The technological changes are band-aids.
