Why I believe ProgPoW is the next step forward for DigiByte

DigiByte, More Secure, Faster & Forward Thinking

From Odocrypt to ProgPoW

You see, having multiple algorithms supporting the same “type” of hardware, while still beneficial in many ways, is not optimal.

Blockchain decentralization with GPU mining

In the interests of lowering the barrier-to-entry, the plan will also be to reset the DAG for the ProgPoW implementation in to DigiByte, rather than using the existing Ethereum / Ethash details. The benefit of this DAG reset is predominantly two-fold:

  1. It allows people on older GPU’s to contribute even if it’s less cost-effective / energy efficient, and possibly even a net loss.
  2. It allows more people to “try it out” even if their hardware is older, and introduce them to mining.

But aren’t ASICs more secure than GPUs?

Sort of! Yes, and no…

  1. Do you want the highest hashrate, even if there’s fewer people protecting the network?
  2. Or, do you want more people contributing to the security of the network overall, even if the “green number” of hashes is lower as a result?

Why MultiAlgo can be so powerful

MultiAlgo, combined with MultiShield (Based upon DigiShield), can have the security of ASICs and FPGA’s, as well as the distribution and ease-of-onboarding that GPU’s and CPU’s offer.

  • SHA256, the algorithm Bitcoin uses
  • Scrypt, the algorithm Litecoin uses
  • Qubit, an algorithm that DigiByte is the dominant hash-power in
  • Skein, another algorithm that DigiByte is the dominant hash-power in.

Why does this matter to me if I’m not a miner?

Mostly because the “infrastructure” around the blockchain needs updating.

We need to decide which algorithm(s) will be replaced

There are obviously benefits to maintaining hash power dominance in an algorithm, it means there’s unlikely to be any amount of 3rd-party hash-power which could be used to attempt an attack on the network. This security is arguably Bitcoins biggest selling point, with SHA256.

  1. An ASIC mining algorithm
  2. Odocrypt, our FPGA focused algorithm
  3. ProgPoW, to focus on GPU mining
  4. RandomX, for CPU mining
  5. And a 5th algorithm of some description…

Which algorithm do you think ProgPoW should replace?

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Josiah Spackman

Josiah Spackman

I write interesting things about cryptocurrency, especially DigiByte