Equihash - Mining Algorithms, Coins, Tokens - BitcoinWiki
December 23, 2018 8:39 PM Discuss Equihash is a Proof-of-Work mining algorithm. Equihash is a proof-of-work hashing algorithm developed by Alex Biryukov and Dmitry Khovratovich and introduced by the University of Luxembourg's research group called CryptoLUX, which they were a part of, at the Network and Distributed System Security Symposium 2016 in San Diego. Biryukov and Khovratovich designed Equihash to fight with a problem of the ASICs domination in the Bitcoin-like systems. In Equihash's whitepaper they wrote: Proof-of-work is a central concept in modern cryptocurrencies and denial-of-service protection tools, but the requirement for fast verification so far made it an easy prey for GPU-, ASIC-, and botnet-equipped users. The attempts to rely on memory-intensive computations in order to remedy the disparity between architectures have resulted in slow or broken schemes?. Not being satisfied with previous attempts to solve this problem by other developers they turned their attention to the concept of asymmetric proof-of-work. They wanted to establish a blockchain the proof of which is based on a computationally hard problem, which requires a lot of memory to solve but is instant to verify. This approach was aimed to reduce the difference in the mining efficiency between the ASICs and regular computers as most ASICs did not possess a large enough amount of RAM to produce the hashing power they were intended to. Their development resulted in Equihash - a memory hard algorithm that was suitable for mining by ordinary PCs with a GPU RAM a little higher than average and was not suitable for ASIC. However, in early summer of 2018, Chinese ASIC manufacturer Bitmain managed to optimize the processing of Equihash with an ASIC. The research of the Zcash Foundation and the scientists from the University of Luxembourg stated that around 30% of Equihash hashrate is currently produced by ASIC miners.
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