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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."
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.
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