Community Discussion: The Future of Digibyte Mining Algorithms
In light of the recent 51% hacks, and also /u/coblee presenting a comparison between DGB and LTC 51% attacks, I think it's important to discuss the algorithms that DGB currently supports and will potentially support in the future.
Mr Lee's report reinforces the importance of having a strong community and a strong positive sentiment towards the crypto in protecting a network. Because of this, I do feel that we should keep scrypt and/or also sha256 as algorithms.
I am not totally familiar with the nuances of digishield, but maybe the total number of algorithms supported could be changed as well. Maybe 5 is not as secure as 3 very healthy networks or 7 less healthy networks?
fairness of miner rewards and also decentralization of hash remain an issue also. there is the perpetual asic vs gpu vs cpu mining arguements (and now even fgpa solutions are emerging), we need to find a balance between all of the communities. surely, asics and specialized computers can lead to centralization, but they can also secure the network more than gpu and cpu miners.
a hot topic in the crypto-sphere is asic and nicehash resistance. monero has forked to counter the asics made for them, new multi-algorithm-algorithms like x16r, x16s, and c11/tribus are nicehash resistant. could we implement these algorithms and even have a tentative schedule of algorithms in order to further bolster the network against 51% attacks?