Industry Expert Blogs

New, post-Bitcoin cryptocurrencies have been developed with ASIC resistance to level the competitive playing field for cryptocurrency miners, as discussed in parts 1 and 2 of this blog. ASIC resistance was developed to counteract monopolization of cryptocurrencies by the few entities that can afford to build ASIC solutions, as has happened with Bitcoin. However, ASIC resistance does not ensure the necessary scarcity of a cryptocurrency. Consequently, developers of cryptocurrency algorithms have devised an additional method to fundamentally ensure scarcity. It’s called memory hardness, which can be combined with ASIC resistance. The most prominent and promising examples of these new cryptocurrencies are Monero/XMR and Ethereum/ETH. These new cryptocurrency algorithms are both ASIC-resistant and memory-hard.

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