Reply to post: Re: This might be the best thing since sliced bread

2 + 2 = 4, er, 4.1, no, 4.3... Nvidia's Titan V GPUs spit out 'wrong answers' in scientific simulations

Dave 126 Silver badge

Re: This might be the best thing since sliced bread

Serious Bitcoin miners, and miners of many other crypto currencies, have switched to specialised hardware generically known as ASIC - silicon which can only do one thing (eg run the Bitcoin algorithm). The development cost of such dedicated silicon is high, so only bigger miners use it. Having only a few large players in the game runs contrary to the point of crypto currencies i.e the work on the ledger should be distributed amongst millions of users so that no one entity can influence over 50% of the work. Apparently having having fewer big players over many small players leads to fluctuations, too.

Ethereum - perhaps the largest CC after Bitcoin - uses an algorithm that is deliberately suited to GPUs over current ASIC designs because is requires a lot of memory. In addition, Ethereum keeps threatening to switch from Proof of Work to Proof of Stake in an effort to dissuade anyone making the investment in an Ethereum ASIC.

Ironically, it was the idea that millions of people already possessed powerful CPUs and GPUs for non-mining purposes - thus combined they had more power than any Bad Actor might hope to acquire - that was central to Bitcoin.

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