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After the initial ASIC "gold rush" Bitcoin mining is trending towards decentralization again. ASICs do not mean an eternal approach to centralization, it is jus
by wavepruner 8y ago
After the initial ASIC "gold rush" Bitcoin mining is trending towards decentralization again. ASICs do not mean an eternal approach to centralization, it is just a temporary step along the adoption curve. See https://www.blockchain.com/pools https://www.blockchain.com/pools
Also, ASICs are the most energy efficient way to perform proof-of-work.
- ufo 8y agoProof of work is oblivious to efficiency. Efficiency gains are met by equivalent increases in mining difficulty, since the network attempts to calibrate towards a constant mining rate.
- wavepruner 8y agoEquivalent increases in mining difficulty is the goal, as that secures the blockchain.
- imtringued 8y agoNo it doesn't if not everyone has access to the ASICs. If 30% of miners use highly efficient ASICs that are twice as fast they become the majority.