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Ravencoin Neighborhood Conflict Over Mining Algorithm Continues

The Ravencoin neighborhood continues to argue over what mining algorithm the venture ought to undertake sooner or later to finest deter ASICs, regardless of Ravencoin conducting a tough fork supposed to bolster ASIC-resistance simply 5 months in the past.

Tron Black, Ravencoin’s lead developer, posted an replace on Feb. 18 stating that “work is ongoing to check numerous different algos for mining Ravencoin.” He added that the marketing campaign to vary algorithms is being led by “a big contingent of GPU miners.”

“A number of algos have been tried with benchmarking. Some won’t work as a result of they’re too sluggish for validation,” Black continued.

The put up additionally asserted that 5 “main options” had been activated on the safety token platform’s essential internet throughout February, together with messaging, dividends and restricted property. The updates additionally noticed RVN’s KYC tagging system go reside.

Ravencoin versus ASICs

Ravencoin’s whitepaper, printed April 3, 2018, superior ASIC-resistance as a core utility provided by the venture’s x16r mining algorithm – which was designed to “to stop quick dominance by mining swimming pools, and future dominance by ASIC mining gear.”

The doc argued that ASIC-resistance is required to “permit the mining fee to extend” and “steadily disburse [RVN] to holders that perceive the worth of the platform.”

Proof suggesting that ASICs might have infiltrated the community first emerged throughout July 2019 when an article printed on Medium purported to point out {that a} single mining pool had come to build up 10% – 20% of mined blocks throughout Feb. 2019, earlier than rising to dominate 30% – 40% of the community the next month. As of July 11, 2019, the thriller pool was mining 45% of RVN blocks.

Ravencoin laborious fork

On Oct. 1, 2019, Ravencoin executed a tough fork to transition to its present x16rV2 algorithm. Regardless of not being supposed as a everlasting solution, the change was anticipated to thwart the presence of ASICs for the foreseeable future. 

Regardless of the fork, concerns across the recurring dominance of unknown mining swimming pools rapidly resurfaced, together with speculation that FPGA builders have sought to subvert the narrative within the improvement channels of the venture’s Discord.

On Jan 30, 2020, Tron Black printed a post declaring it was “evident” that ASICs have been once more mining Ravencoin. The put up additionally outlined proposals for Ravencoin’s future ‘x16re’ algorithm, with a current replace indicating that RVN’s builders are at present exploring implementing progPOW into the mining algo.

Ravencoin listed on OKex and SFox

Regardless of the shortage of a transparent decision to Ravencoin’s algorithm debate, the open-source venture has seen rising help from notable exchanges. 

On Feb. 19, RVN pairings went reside on OKex and SFox. Tron emphasised that the OKex itemizing would “carry consciousness of Ravencoin to whole new segments of the globe,” including that the alternate can be offering the advertising and marketing finances to advertise the launch.

Okex’s RVN/USDT market has generated $586,000 value of commerce previously 24 hours, rating it the third-largest RVN pairing by each day quantity based on Coin360.


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Thanks !

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