The Ravencoin community continues to argue over what mining algorithm the project should adopt in the future to best deter ASICs, despite Ravencoin conducting a hard fork intended to bolster ASIC-resistance just five months ago.
Tron Black, Ravencoin's lead developer, posted an update on Feb. 18 stating that "Work is ongoing to test various alternative algos for mining Ravencoin." He added that the campaign to change algorithms is being led by "a large contingent of GPU miners."
Ravencoin's whitepaper, published April 3, 2018, advanced ASIC-resistance as a core utility offered by the project's x16r mining algorithm - which was designed to "To prevent immediate dominance by mining pools, and future dominance by ASIC mining equipment."
The document argued that ASIC-resistance is needed to "Allow the mining rate to increase" and "Gradually disburse [RVN] to holders that understand the value of the platform."
Evidence suggesting that ASICs may have infiltrated the network first emerged during July 2019 when an article published on Medium purported to show that a single mining pool had come to accumulate 10% - 20% of mined blocks during Feb. 2019, before growing to dominate 30% - 40% of the network the following month.
As of July 11, 2019, the mystery pool was mining 45% of RVN blocks.
On Oct. 1, 2019, Ravencoin executed a hard fork to transition to its current x16rV2 algorithm.
Despite the fork, concerns around the recurring dominance of unknown mining pools quickly resurfaced, including speculation that FPGA developers have sought to subvert the narrative in the development channels of the project's Discord.
On Jan 30, 2020, Tron Black published a post declaring it was "Evident" that ASICs were again mining Ravencoin.
The post also outlined proposals for Ravencoin's future 'x16re' algorithm, with a recent update indicating that RVN's developers are currently exploring implementing progPOW into the mining algo.
Ravencoin Community Clash Over Mining Algorithm Continues
Published on Feb 21, 2020
by Cointele | Published on Coinage
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.