Ironfish Custom Mining Algorithm

Iron fish may be moving to a completely A custom mining algorithm let's get into It [Music] Welcome back everybody if you may recall Iron fish a few days back went ahead and Announced that they were going to Coordinate a vote for a change of Algorithm this is to prevent Asics and Fpgas from mining on the network this in Theory should help increase the cost to Mint which could increase the price of Iron fish as well as potentially Increase adoption as they're a bunch of GPU miners looking for a new home now What ended up happening of course is They posted on Discord and I covered This previously and it went over the top Choices being modified ET hash B3 which Is Blake 3 with memory look up to make It Asic resistant and that is currently Being used by a project that is called Ethereum of course you can check out my Video covering ethereum if you like and It is something that I've mined quite a Bit of in preparation for the next Bull Run next we have ET he hash with EIP at 3372 this in theory would not be Completely Asic resistant as you would Have some of the ET hash A6 probably be Able to go ahead and mine it but they Would still require memory modules Within those Asic machines which does Mean it is more competitive for GPU

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Miners than on say their current Algorithm for mining which is Blake 3. Third we have Auto ecos V2 which is Something you may have heard of in the Past called Ergo interestingly enough we Have seen Ergo devs in the Discord for Iron fish discussing that change and There's a specific reason for that that We'll cover in just a second and then Finally the last option was Prague pal And Prague pow is run most famously in Ravencoin but has been adopted by a ton Of different alt coins across the Cryptocurrency sphere and has proven to Be very Asic resistant however it does Utilize a lot of power as well as Generate a lot of heat so some miners Are adverse to this especially home Miners in southern areas where it may be A be a bit hotter so they do offer the Potential for adding additional Suggestions the original voting was Going to open on September 1st which was Already gone and passed and then it was Supposed to close on September 12th but Now there's a new Option coming along The way but before we get into it the Interesting thing here is red panda Mining did run a poll surrounding this Particular choice between these four Options and autolicos V2 one in this Particular case so that's when we Started seeing armenio hop into the Mining channel of the iron fish Discord

To discuss changes and that iron fish May need in particular for their Particular coin and the way the rest of It functions but then out of nowhere we Had a big announcement today and and you Will actually be seeing this in a couple Days because we have a few videos coming Out before this but Daniel fish said in The Discord hello iron fish miners we Had a long discussion with ello the LOL Lead diab which is a the dev for LOL Miner I believe about the algorithm Change yesterday along with very helpful Information about the current algorithm Options he also offered to come up with A proposal for an algorithm specific for Iron fish a custom algorithm would of Course reduce the chance that any Optimizations fpga or Asics from Existing algorithms could be reused for Iron fish to give him time to complete The proposal we're going to push back The vote once his proposal has been Completed We'll add it to the voting With the other options already discussed This should happen in the next week or Two and all options should be ready by The week by the weekly miners call on The 19th of September we also said that We want to make sure voters are well Informed of their options to that end we Are look looking for individuals who are Passionate about one of the algorithm Proposals to give it an argument for

Their preferred algorithm Advocates Should be prepared to write a short few Paragraphs proposal along with being Able to advocate for the algorithm During the September 19th weekly minor Call we think this Advocate route is the Fairest way to provide accurate Information giving these stage to those Who are most knowledgeable and Passionate about the specific choice if You would like to be an advocate for an Algorithm please let us know lots of Exciting news coming out of this one It's really cool to see them paying Attention to minors and what they think Obviously with the GPU miners space Being a lot larger than the Asic minor Space as far as amount of individuals That participate within the networks I Think this should have a pretty big bump In participation surrounding this vote As far as the algorithm choices go we Kind of talked about the original four Algorithm choices in the previous video So you can check that out for my opinion On those I think Auto lecos V2 winning Is primarily due to the fact that it Does run so cool and is good for miners In the southern hemisphere however I do Think that we have realized that there Are quite a few issues or potential Issues when implementing that with iron Fish in particular now a custom Algorithm would be very very exciting

Because we haven't seen a bunch of new Proof of work algorithms that are GPU And Asic resistant on the horizon you Know the newest coins that have been Releasing any ones that release their Own mining algorithm have leaned towards Allowing Asics on their networks Casper Being the most famous here recently but Of course in my humble opinion that does Hurt adoption as well as going ahead and Putting the power into kind of a Centralized sphere there I think that Asic resistance is very important that Being said of course I do prefer on the Casper side that it is a fair launch and We have to be completely Frank with iron Fish here not being a fair launch and Having a huge disparity in favor of the Developers and the foundational funds That you know there's still a lot of Questions surrounding it especially as It pertains also to even the Privacy Options and the way that integrates on The state side with regulation there's a Lot here outside of just the mining Algorithm change that is challenging I Think for iron fish in particular but I Am very excited to see what Solutions Come about with the LOL with Mr LOL here And what this new mining algorithm would Look like and how it would be Asic Resistant I am definitely leaning Towards that option being my favorite Option because I think that there are

Also you know specific things that the Community could contribute to make this Mining algorithm a fresh new and a Better option for GPU miners than what Already exists and I think that it would Be beneficial to put that work in for From the LOL minor perspective as Opposed to just adopting something That's already existing because frankly Everything that exists still does have Issues I could argue with Prague pow Being you know Asic resistant and Remaining that way and but like I said Some of the issues with the amount of Heat can be very impactful so let me Know what you think in the comment Section below are you leaning towards Implementing one of the four algorithms That were already proposed if so which One and why maybe we can get those Relayed to the miners call on the 19th And if you are in favor of the custom Algorithm please note why and maybe note A couple of features you would like to See within that mining algorithm that Way we could also pass those along Thanks everybody for watching hit the Like comment subscribe and notification Bells down below so you're notified when I make a video and put it live and I Will see you next Tuesday don't get to Check out son of for My daily moves and you can get a free Month of supporter status on locals with

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