The Next Generation of Crypto Coins on the Way?

There's rumors about people working on a new algorithm, the algorithm that mining computers have to run, that can't be done on the ASIC computers that the Chinese like to use.

The reason for doing this is that one Chinese mining consortium lead by a billionair with party connections are now providing more than 50% of all computing power to the Bitcoin network. He literally has server farms within eyeshot of nuclear power plants which is why people know he has party connections.

Anyway, the disadvantage of having all that mining power belonging to one man is that 1.) he can skim off the top through a complicated technical process 2.) if anything happens to his network like the government shuts it off, 51% of the computing power of the payment network goes down.

This new algorithm is called a cuckoo algorithm, and my understanding is that it makes it so you can't mine coins profitably on those expensive ASIC computers that only billionaires can afford.

If any new coins come out with this new algorithm and sound promising, I'll tell you all about them.