New Sinovate Algorithm Resists Big Miners
By Jofor a.k.a. Cyberczar - 2019-06-22
Every miner knows that the main challenge faced in the business is the cost of hardware and the fact that the biggest players with the deepest pockets are the dominant players. This is one of the reasons why many decentralized platforms such as Monero are promoting algorithms that are ASIC resistant.
The importance of resisting the ASICs cannot be overemphasized since they generally give the big players undue advantage, effectively centralizing the network.
This is one of the reasons why the Sinovate algorithm supports smaller mining rigs and GPUs to give the small miners equal leverage in their quest to accumulate the SIN coin.
This was made public through an announcement in Las Vegas on June 18 in which the platform revealed its X25X algorithm aimed at exclusion of ASIC miners in generation of coins. The essence is to exclude commercial mining and encourage decentralization.
The new algorithm accomplishes this through the resistance of quantum level mining operations. The X25X whitepaper stated that the parameters set forth in the blockchain was intentionally made difficult for ASICs and FPGA mining equipments making it strenuous and less economical for such miners.
Furthermore, ample chip space would be demanded from such commercial miners while GPUs need lower power consumption to effectively mine the SIN coin.
Speaking on the new algorithm, the CEO of Sinovate Tamer Dagli said:
“X25X is the natural evolution of X22i, the previous algorithm used for SUQA with further improvements on ASIC and FPGA resistance. It aims to help rejuvenate and sustain the GPU mining community and provides decentralization of the network.”
The X25X also fights against the commercial mining through the prevention of optimization processes that generally bypass network consensus.
The overall emphasis of the new algorithm is to emphasize fair play and give leverage to smaller players.
Read more about it here: https://sinovate.newswire.com/news/sinovate-reveals-x25x-algorithm-which-resists-unfair-commercial-mining-20925365
Learn more about Sinovate: https://sinovate.io