Thanks to the massive implementation of ASICS, cryptocurrency mining is getting more centralized by the day. Today, only few popular algos remain free from ASIC miners with Equihash being one of them.
This issue is discussed a lot and eventually a team of programmers have decided to create an algo that would be easier to mine with a CPU/GPU than with an ASIC. This is how Ravencoin was born and launched January 3rd 2018.
It relies on its innovative anti-ASIC X16R algo, its active community and an open-source code that makes it possible for the community to contribute to the project.
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Ravencoin is basically an enhanced version of Dash. It uses a modified version of the X15 algo that allows it to be ASIC-resistant.
Back in the day, it was thought that Dash was immune to ASIC mining too. The X11 algo is in fact an intricate chain of hashing algorithms (such as cubehash, shabal, echo, blake, sha512, etc), making it impossible for a traditional ASIC to mine X11. That being said, some dudes in China have managed to create a multi-algo system that was tailored to mine X11, thus creating the first Dash ASIC.
Ravencoin developers have studied the case of Dash and have managed to find the weak spot of the X11 algo, which is in the fixed order of the hashing algorithms. This led them to develop the X16R that features a randomized chain of hashing algos. Because of that, the X16R is now easier to mine with a GPU/CPU than with an ASIC:
The hashing algorithms are the same proven algorithms used in X15 + SHA512, but the ordering is changed based on the hash of the previous block. This reordering does not make an ASIC impossible to build, but it does require that the ASIC adapts to additional input, which is more easily accomplished by a CPU or GPU.Ravencoin
You can read the whitepaper to have a better understanding on how exactly that works.
The team tries to be as transparent as possible, which is why they’ve decided to avoid launching an ICO. The coin can be mined either solo or in pools, though solo mining is no longer recommended. In brief, anyone can start mining the coin anytime they want. Let me show you how to get started:
How to create a Ravencoin (RVN) wallet
Exchange wallet, good to have if for trading/selling etc.., create an account here: Binance