This article was first published on Vertcoin Blog - Medium
Vertcoin Development Update — October 2018
Welcome to another month gone by. Against all odds the team is still here standing strong with our beliefs. Below is what we accomplished for the month of October.
Important wallet update
We can’t emphasize enough the need to update your wallet to the latest Vertcoin core. Those who haven’t are on a different chain which means you likely have the wrong number of coins. This can be due to the exploit fixed in the latest update. You can find the newest wallet here.
ASICs and current state of GPU mining
In September, an ASIC for Lyra2REv2 went for sale. We didn’t have any proof of it functioning back then, but looking at network hashrate and mining profitability for Vertcoin and other coins with the same algorithm, it leaves no doubt that ASICs are indeed functional and active on the network. Since then minability dropped not only on Vertcoin, but on every coin because there are less and less ASIC free hashing algorithms. We still believe you shouldn’t need to invest in expensive dedicated hardware, which is why we are staying faithful to the original vision of ASIC resistance. Verthash is still our top priority.
The option of tweaking the current algorithm for a quick fix to render current ASICs dead on the Vertcoin network was another option we had, but was decided against since tweaks could cause security risks and holes. Hardforking is a complex process that requires coordination with the community at the risk of splitting the chain. As hardforking twice in the next few months could be hazardous, we decided the best course of action is to continue development on Verthash.
Verthash algorithm update
The past month we’ve been working hard on integrating our Verthash proof of concept into Vertcoin Core. We finished a preliminary implementation, but ...
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Vertcoin Blog - Medium