Is asic-resistance obsolete?

If it becomes obsolete for mining, it can still be used for other functions, such as gaming. ... However in reality, the sheer mining power of ASICS are too immense for ASIC-resistance to be prominent in crypto.

1. What is ASIC resistance?
2. Is ethereum ASIC resistant?
3. Why is ethereum ASIC resistant?
4. Is Scrypt ASIC resistant?
5. Can Ethereum be mined with ASIC?
6. Can Antminer S19 mine Ethereum?
7. Is monero ASIC-resistant?
8. Can an Antminer mine Ethereum?
9. How long does ASIC miner last?
10. Can you build an ASIC miner?
11. Is Ravencoin ASIC resistant?
12. Can you mine Scrypt on GPU?
13. Why is proof of work required for Bitcoin?
14. Is it worth buying an ASIC?
15. Which is better ASIC or GPU?
16. Can we change algorithm in ASIC miner?

What is ASIC resistance?

ASIC-resistant is the property of a cryptocurrency that is “immune” to ASIC mining. ... An ASIC-resistant cryptocurrency has its protocol and mining algorithm configured in such a way that using ASIC machines to mine the coin is either impossible or brings no significant benefit when compared to traditional GPU mining.

Is ethereum ASIC resistant?

Ethereum, like other so-called ASIC-resistant blockchains that use a different hashing algorithm than Bitcoin's SHA-256, are supposed to reject hashes from ASICs, which are designed to produce hashes for mining purposes only, and serve no other computing function (like graphics for gaming.

Why is ethereum ASIC resistant?

The reason why Ethereum is ASIC resistant is because the network utilizes the Keccak-256 hashing algorithm, which rejects hashes from ASIC machines. The algorithm is designed so that it only produces hashes for mining purposes and serves no other computing function.

Is Scrypt ASIC resistant?

Scrypt did prove to be ASIC resistant, but not ASIC proof. Over the last few months scrypt ASIC manufacturers have begun taking pre-orders. While bitcoin ASICs are about 1000x times more efficient than GPUs, scrypt ASICs are about 100x more efficient.

Can Ethereum be mined with ASIC?

The Bitmain Antminer E9 is the world's most powerful Ethereum mining ASIC. Bitmain has launched a new ASIC tailor-made for Ethereum. It can hit peak hash rates of 3GH/s, roughly equivalent to 32 GeForce RTX 3080 graphics cards. ... Here's where ASICs (application-specific integrated circiut) come in.

Can Antminer S19 mine Ethereum?

Antminer (especially the S9 and S19 Pro) is an ASIC designed to ONLY calculate the SHA256 algorithm. That is for mining Bitcoin, NOT Ethereum. Instead, something able to perform the totally different DaggerHash algorithm is required to mine Ethereum.

Is monero ASIC-resistant?

Monero Implements Hard Fork, Including New ASIC-Resistant Mining Algorithm. The Monero network has successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant. The Monero (XMR) network has been successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant.

Can an Antminer mine Ethereum?

A: The AntMiner S9 can only mine coins based on the SHA256 alagorithm such as bitcoin and bitcoin cash. Ethereum is based on a Keccak algorithm and is therefor unable to be mined with an AntMiner S9. ... A: S9 performs sha256 hashing only, so it cannot mine Etherium.

How long does ASIC miner last?

The average lifespan of a well-kept, maintained machine can be around 3 to 5 years. Nevertheless, if you keep ASICs in harsh or poor conditions, they can deteriorate in as little as a few months. Contrarily, taking good care of an ASIC miner can prolong their lifespan for more than 5 years.

Can you build an ASIC miner?

Also a few cryptocurrencies have been designed so that no common ASICs can mine them at the time they were designed. ETH proof of work algorithms were designed so that it is almost impossible to build ASIC miner for ETH. There is no ASIC ETH miner.

Is Ravencoin ASIC resistant?

But X16R is the first version of the mining algorithm on Ravencoin, and it doesn't serve its purpose anymore, to make the ravencoin mining ASICs resistant. That's why the mining algorithm was updated to X16Rv2 and then to KaWPoW.

Can you mine Scrypt on GPU?

A brief recap on Litecoin

If you want to know how to mine Litecoin, you should know that the network uses the PoW (Proof-of-Work) consensus algorithm and the Scrypt mining algorithm (Bitcoin uses the SHA-256 algorithm). Mining Litecoin is a resource-intensive process, but you can still use your GPU to do it.

Why is proof of work required for Bitcoin?

The answer is proof of work. Proof of work is a consensus mechanism used to confirm that network participants, called miners, calculate valid alphanumeric codes — called hashes — to verify Bitcoin transactions and add the next block to the blockchain.

Is it worth buying an ASIC?

In very general terms, the more you can invest in an ASIC mining rig, the greater the profit you'll be able to yield. ... That is a tremendous investment for someone with no experience or background in mining to make. Plus, that doesn't account for the sizable electricity costs required to keep it running.

Which is better ASIC or GPU?

ASIC mining machines are typically more expensive, louder, and more power intensive than GPU machines. But they generally require less maintenance and offer more efficient power use.

Can we change algorithm in ASIC miner?

No. ASIC (Application-Specific Integrated Circuit) miners are designed to be dedicated to one algorithm, and because it is a circuit and hardware design, any software cannot change the underlying performance of an algorithm in the ASIC miner.