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Equihash

Equihash is a memory-oriented Proof-of-Work algorithm developed by the University of Luxembourg's Interdisciplinary Centre for Security, Reliability and Trust (SnT).[1][2]

General

Alex Biryukov and Dmitry Khovratovich are part of the University of Luxembourg research group CryptoLUX, which developed Equihash. Equihash was introduced at the Network and Distributed System Security Symposium 2016 in San Diego. The cryptocurrency ZCash integrated Equihash in April 2016, for reasons such as security, privacy, and ASIC miner resistance. Bitcoin Magazine notes, "According to the CryptoLUX scientists, the algorithm permits avoiding centralization of the mining process in the hands of a few first-class miners with specialized mining hardware, thus contributing to the “democratization” of digital currencies based on Equihash."[3]

Equihash is now considered broken in the sense of purpose. The manufacturer Bitmain has succeeded in optimizing the processing of the algorithm with an ASIC. This makes the use of graphics cards too expensive.[4]

See also

References

  1. ^ Prisco, Giullio (February 16, 2017). "How the Equihash Algorithm Could Democratize Zcash Mining". NASDAQ. Retrieved 6 Oct 2018.
  2. ^ Biryukov, Alex; Khovratovich, Dmitry (2017). "Equihash: Asymmetric Proof-of-Work Based on the Generalized Birthday Problem: Open Review". 2. ISSN 2379-5980. Retrieved 7 October 2018.
  3. ^ Prisco, Giulio (February 16, 2017). "How the Equihash Algorithm Could Democratize Zcash Mining". Bitcoin Magazine. Retrieved 6 Oct 2018.
  4. ^ Dölle, Mirko (June 26, 2018). "End of the graphics card era: 8000 ASIC Miners for Zcash, Bitcoin Gold & Co". Heise (in German). Retrieved 6 Oct 2018.