Industry Expert Blogs
Mine Cryptocurrencies Sooner Part 2-March 13, 2019 |
Bitcoin has lost much of its allure due to the concentration of control of the world’s Bitcoin mining resources by a few players in a few locations, as discussed in Part 1 of this blog. In response, the larger, global cryptocurrency community has started to develop alternative cryptocurrencies based on lessons learned from the Bitcoin experience.
New cryptocurrencies such as Monero introduce ASIC-resistance and memory-hardness to prevent ASICs from being built that give some operators a competitive mining advantage over others who do not have access to the same technology. These new cryptocurrencies, therefore, offer a more level playing field to cryptocurrency miners and, at the same time, tip the balance back to FPGAs as an implementation technology for cryptocurrency mining algorithms.