What is the point of X11?
- Thread starter Voluntary
- Start date
as than you are stuck in the sha256 mining farms in china !
with X11 (ASIC or not) u are still way more decentralised - as X11 ASIC are out but the farms are all over the world (Costa Rica, Iceland, ....) and NOT only china - as sha256
well decentralisation is still decentralisation
+ it is good to divert - you do not wanna be too reliant on China (or any other country)
Example: if the chinese change their Crypto laws (in whatever way) it could have huge impact on the mining industry
better divert and be save
+
there are probably endless technical points why X11 is better than sha256 but i am the wrong guy to answer that (leave it to the pro's)
Edit: X11 - isn't it 11 times safer ? as of 11 algo's
rustycase
Active member
Just as easily as the dragon could shut down sha256 mining and export, perhaps over South China Sea territorial disputes, estados unidos could quickly enact direct tax upon mining, regulatory or higher power consumption fees, as the one city/county in Washington state has done, in search of revenue. ( I have misplaced the msm news link for that article.)
Always best to be decentralized, and diversified.
Best
rc
Always best to be decentralized, and diversified.
Best
rc
Roslyn
Active member
Observing the new coins, if X11 weren't an improvement, their wouldn't be so many offspring coins using X11, X13, X15.
Predict X11 elicits a new wave of X11 ASIC miners; Produced by demand for not only DASH, but also many other offspring coins.
Keeping our mining industry separate from bitcoin's massive mine operations, the more DASH is coveted.
Predict X11 elicits a new wave of X11 ASIC miners; Produced by demand for not only DASH, but also many other offspring coins.
Keeping our mining industry separate from bitcoin's massive mine operations, the more DASH is coveted.
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I would guess having a proof of work algo that minimises the economic importance of the electricity price (direct + cooling). If you can mine profitably at 20c kW/h and Dash is promoted globally then it bodes well for decentralisation. If you need <3c kW/h to break even then things will just move to the cheapest section of the global supply chain (... Western China).
This opens an attack vector - some people in Bitcoin-maximalists camp can redirect some chunk of their power for some time to disrupt competing network. This already happened way back in the past (sorry, I don't have a bookmark for this right now, search through btctalk). Having Dash-specific mining power (x11-ASICs) prevents such incentive because you can't attack network for free with your old Bitcoin hardware, you need to make _new_ investments first (and then shot yourself in the foot if you try to attack).
crowning
Well-known member
No, just different. And less studied and attacked.
No, if you find a collision in one of the 11 hashing algorithms (worst case in the first one) the collision propagates through the complete hashing chain.Edit: X11 - isn't it 11 times safer ? as of 11 algo's
But if you can't create dedicated collisions for your attack (which is very unlickly to ever happen) we don't have to worry.
Wouldn't a change back to a CPU-only or GPU-only algorithm serve better to decentralize than to remain on an ASIC-only algo?
As it stands now, the only X11 ASICs are obtainable by those with ever growing holdings.
BTW, I'm not a troll or n00b, I've been mining or holding DASH since the early DRK days when I could solo mine blocks daily on a GPU, I just haven't joined the forum or posted until now.
As it stands now, the only X11 ASICs are obtainable by those with ever growing holdings.
BTW, I'm not a troll or n00b, I've been mining or holding DASH since the early DRK days when I could solo mine blocks daily on a GPU, I just haven't joined the forum or posted until now.
I understand the rationale for chosing a non-SHA256 (BTC) algorithm to launch DRK/DASH with, and it served it's purpose well for a good long while.
How does remaining on the ASIC-dependent X11 algorithm prevent the same situation that X11 was chosen from occurring? (It hasn't!) The current situation is that hashing is increasingly only done by big farms (of whatever nationality) and not the widespread off-the-shelf hashing that it started with.
ASIC dependence is bad. Only those who are rich enough to develop ASICs will be hashing the majority before long. Sure some manufacturers will sell off a few units here and there, but the X11 road is not decentralized going forward.
For example, crunch the numbers on the (unreleased) iBelink DM11G, that produces 10.8GH/s for ~800w. I have read that iBelink is supposedly producing as many as 5000 units. If true, then that's 54TH/s due to hit the X11 algorithm over the coming months (and I would presume the majority will be mining DASH.) For comparison, at this writing, I see that the DASH network hashrate has hit 4.5TH/s, and is currently just below 3.5TH/s. There is no assurance that these new miners will be decentralized and not capable of overwhelming the existing miners.
Another aspect to the algorithm choice, is, as I understand it, X11 is made up of 11 sub-algorithms, and if any one of them is compromised, then the entire X11 algorithm is compromised. Does DASH have a contingency to this possibility becoming an actuality?
Do I expect that DASH will change algorithm to something CPU or GPU-only? No, not anytime soon, and there are a LOT of miners with a LOT at stake that won't let it happen without a fight. As for myself, I will continue to mine X11 with ASICs for as long as it is reasonably profitable, then shift to whatever is at the time. I hope that with the masternodes system, that a 51% network attack can be countered and the DASH network will remain stable through the imminent growing pains ahead.