The growth rate of the cryptocurrency market is incredibly booming over the last few years and so does the BTC Investment Platform. As well as people are becoming more eager to embrace cryptocurrencies and blockchain. Because of which investors are looking for trusted BTC Investment Platform to invest and earn faster. As a result, the mounting demand has created a way to emerge many new cryptocurrencies. With that increasing trend in this sector, multiple cryptocurrency developers have taken the advantage. They have attempted to brick ASIC miners as there is greater domination by ASIC miners but gained negligible success.
So report says what about the cryptocurrency market and ASIC miner domination?
A recent report shows that ASIC miners dominate 85% of the Monero network. This is why certain cryptocurrency networks have targeted ASIC miners and are trying to block ASIC mining. Therefore, Monero, a privacy-centric digital currency has tried to fork the software multiple times to gain ASIC resistance. Thus, many are trying to create more trust among investors. So it can lead them to search for trusted BTC investment platform and new cryptocurrency to invest in.
Then in April last year, XMR developers forked the Monero software with the intention to block companies like Bitmain and Innosilicon from developing XMR-based ASIC miners. But this resulted in the creation of three other Monero forks with each project. And they claim to be the original version. Monero also forked again in October last year with another attempt to implement “Cryptonight variant 2”. It was supposedly less ASIC friendly. And a few months later in February, an analysis shows once again that ASIC machines dominate the XMR network protocol’s hash rate.
After that, a pseudonymous critic published an analysis using nonce forensics to figure out whether or not XMR’s nonce distribution processed at random numbers. A nonce is considered a random number in the blockchain world. That is employed just once in cryptographic communication and can analyze many patterns from queried data sets. As an example to mention here, the BTC network exerts a 32-bit (4-byte) field. It is a value that is customized by miners so that the hash is less than or equal to the current target of the network.
And ASIC miners produce patterns, which are easily identifiable and distinct able when looking at data sets. This report also explained that ASIC manufacturers had learned from past mistakes and implemented random nonce picking. Finally, the report mentioned after the October fork last year, XMR developers gained some success with the new Cryptonight variant. But ASIC miners quickly returned on December 31st, 2018 near block 1,738,000. So from the study, we see that there was a mixed result in all the attempts in both cases.
Therefore, considering the success opportunity, some other networks have also tried to brick ASIC miners besides Monero network. But the success rate was not that high. In May last year, the Bitcoin Gold (BTG) protocol felt threatened by ASIC miners after the creation of the Equihash-based Antminer Z9 mining rig. Similarly, another project that has tried to avoid ASIC domination is the Zcash protocol. But as of May 2018, research detailed that ASIC machines can mine 30 percent of the network. Ethereum users last year were also anxious when Bitmain released its Antminer E3.
All the activities are following the ups and downs pattern. But the endeavor for investing in cryptocurrencies and finding out BTC investment platform continued to increase. Many developers keep continuing to secure the transaction system and come up with the cash app. You can receive and send bitcoin with cash app easily. Despite the trust issue regarding the bitcoin transaction, Bitcoins PayPal in recent years has been very favorable for everyone. Though investing in bitcoin is very popular among investors, people are also willing to get the opportunity for the best Altcoins to invest in.
Now, what decision you can take regarding the cryptocurrency market and ASIC miner domination?
Finally, people will always look for existing and new cryptocurrency to invest in. No matter the consequences ASIC miners and networks like Monero create in the cryptocurrency sector. And with that, the demand for the best Altcoins to invest in will also rise in the upcoming years. So in the end, we can conclude that whether or not ASIC resistance is just a cat and mouse game, developers will continue fighting against ASICs and investors will continue searching for trusted BTC investment platform.