Antonopoulos On AsicBoost: “Let’s Turn It Off”
Array

Antonopoulos On AsicBoost: “Let’s Turn It Off”

-

- Advertisment -

Veteran Bitcoin educator and commentator Andreas Antonopoulos has said AsicBoost technology is a “serious impediment to protocol enhancements.”

Speaking during a Q&A session at the Silicon Valley Bitcoin meetup earlier this month, Antonopoulos said that running the technology in a covert manner is a “threat” to the network.

“We can no longer add modifications to the header because any modifications will be resisted by anyone who’s running covert ASICBOOST it will reduce their profitability,” he summarized.

Recent allegations that mining hardware manufacturer Bitmain had incorporated the feature into its products and was using it to save on mining costs and impede SegWit activation caused considerable speculation throughout the Bitcoin community.

Distinguishing between the covert and open use of AsicBoost, Antonopoulos said that if Bitmain’s rebuttal stating that it had only deployed it on the Bitcoin testnet and not mainnet were true, the company would not resist its disablement.

“If you do believe [Bitmain], I have a simple answer to that, which is: ‘In that case, if you didn’t use it and you won’t use it, you won’t mind if the entire network disables it,’” he continued.

Later in the same response, Antonopoulos appeared to issue more of a challenge to Bitmain to disable AsicBoost.

“If you’re going to do it, do it with the overt version; that way, everyone can see you’re doing it and adjust their business plan accordingly. The covert version damages the market, damages the protocol development and since nobody’s using it, let’s turn it off.”

The profit margins made possible by AsicBoost are considerable, the commentator added, with the less than one percent regular figure increasing around 20 times, allowing for an easy monopoly to be established.

“That is unacceptable,” he said.

Source link

Latest news

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...
- Advertisement -Antonopoulos On AsicBoost: “Let’s Turn It Off”

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

How to double your crypto

Most of us have a small gambler deep inside our souls. We love to feel the thrill...

Must read

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that...
- Advertisement -Antonopoulos On AsicBoost: “Let’s Turn It Off”Antonopoulos On AsicBoost: “Let’s Turn It Off”

You might also likeRELATED
Recommended to you