Author: Bram Cohen 2017-04-06 02:39:08
Published on: 2017-04-06T02:39:08+00:00
Peter Todd, a well-known Bitcoin developer, has expressed his support for blocking both covert and non-covert usage of ASICBOOST. He argues that the advantage it gives in a low-margin business like mining is enormous and can possibly increase profit margins by 10 times or more. This advantage coupled with the already-existing vulnerability of barrier-free access to ASICs makes eliminating this legal vulnerability necessary. Additionally, Asicboost creates a technical vulnerability that increases the minimum capital requirements for entering the ASIC manufacturing and design business. The use of Asicboost also has an impact on what gets mined as it creates an incentive to make blocks smaller. This unwanted effect should be engineered out on principle as treating hashing as a black box is crucial. Therefore, Peter Todd believes that anything like Asicboost should be eliminated entirely.
Updated on: 2023-06-11T23:44:14.456193+00:00