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RE: SkyCoin - An Ongoing Coin Distribution Event And The Rise Of The Arms

in #bitcoin7 years ago (edited)

If the hashing algorithm operates only with these low cost/low power devices, and resists future attempts at high power ASIC designs for more centralized mining by the big mining pools, the problem fixes itself.

It's a question of distribution and saturation of great numbers of devices owned and operated by great numbers of individual miners, vs a handful of rich mining pools dominating hashing, and hence also dominating decision making.

By targeting the ARM, pi and other low cost platforms, the economics favor affordability for everyone, compare the few dollars cost of a pi with a few thousand dollars cost of a new ASIC miner and you'll get the idea :) The more affordable the device, the better the chance for high distribution of miner nodes = a more democratized network and decision making.

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Right that's why coins like #gridcoin and #solarcoin will work well