Author: Mustafa Al-Bassam 2016-04-04 23:01:43
Published on: 2016-04-04T23:01:43+00:00
On April 1st, 2016, Timo Hanke announced a new algorithmic improvement to the Bitcoin mining process in a white paper that had never been discussed before. The paper is available here: http://www.math.rwth-aachen.de/~Timo.Hanke/AsicBoostWhitepaperrev5.pdf. Peter Todd via bitcoin-dev raised concerns over the centralization of the patent and its licensing model that could potentially give one manufacturer exclusive rights. The alternative scenario suggests that the new algorithm could cause an increase of Bitcoin mines in countries where it is not patented, leading to geographical decentralization of miners from countries like China that already have a lot of miners.
Updated on: 2023-06-11T04:41:22.560903+00:00