Topic: Importance of ASIC Resistance

Camp: Agreement / What we can agree on

Camp Statement Go live Time :

What we can agree on

The fact that a small minority of people hold the majority of wealth and power at the top of hierarchies is an unjust situation. A core value of the ethereum community is anti hierarchy and more equal distribution of wealth and power. Anything we can do to move in this direction is a good thing.
Here is a quote from the Ethereum Yellow Paper:
  • ”One plague of the Bitcoin world is ASICs. These are specialised pieces of compute hardware that exist only to do a single task (Smith [1]). In Bitcoin’s case the task is the SHA256 hash function (Courtois et al. [2]). While ASICs exist for a proof-of-work function, both goals are placed in jeopardy. Because of this, a proof-of-work function that is ASIC-resistant (i.e. difficult or economically inefficient to implement in specialised compute hardware) has been identified as the proverbial silver bullet.”

The original Ethereum Yellow paper valued ASIC resistance as it helped with this situation by leveling the playing field between those with enough resources to develop ASICs, and those that do not.

Support Tree for "What we can agree on" Camp

Total Support for This Camp (including sub-camps):

Current Topic Record:

Topic Name : Importance of ASIC Resistance
Namespace : /crypto_currency ethereum/

Current Camp Record:

Camp Name : What we can agree on
Keywords :
Camp About URL :
Camp About Nick Name : No nickname associated