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Author Topic: Move off of SHA256 so Crown is not mined nearly entirely by merged mining pools  (Read 1569 times)

Sparta

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ASIC merged mining pools are mining nearly every single PoW block of Crown, because mining for Crown is essentially free thanks to our reliance on SHA256 and acceptance of merged mining. This is clearly evident by looking at the latest blocks and seeing the regularity of wallet addresses:

https://chainz.cryptoid.info/crw/

It appears the pool changes wallets every 90 minutes, as each wallet that dominates the mining for its time eventually stops and never appears again, examples:
https://chainz.cryptoid.info/crw/extraction.dws?821274.htm
https://chainz.cryptoid.info/crw/extraction.dws?821299.htm

It has pushed out other miners, such as Zpool, which used to account for about 30% of mining, and now appears once in the past hundred mined blocks:
https://chainz.cryptoid.info/crw/extraction.dws?5.htm

As best as I've been able to see, all of these mined Crowns just go straight to Bittrex to be sold:
https://chainz.cryptoid.info/crw/address.dws?1LrmXn8w2yPC7omQchJshbDRxwGzCe41N7.htm

Which means that ASIC miners who are otherwise mining BTC are being given more than half the inflowing investment for Crown.

The only reason I can see as to why merge mining would be wanted is in the case of generating initial institutional interest -- those Crown coins will show up on the markets that the miners BTC show up, so we get a reputational bump for being part of the mix. I do not feel this is worth it, and I feel that allowing merged mining to continue is a sharp detriment to the community and to the prospects of Crown.

Sparta

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Of the last 1000 blocks mined, 99.6% went to this one miner/pool.


higherbridge

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Thanks for the feedback! We had multiple pools but I think for instance infernopool has gone offline. This is problematic, we agree.
Besides that, POW mining is very inefficient in regards to speed and power consumption as you're probably aware.

That's why we're moving away from POW altogether in the future, hopefully in Q3-Q4 of 2018 as can be seen on https://crown.tech/roadmap (scalable consensus). We're keeping quiet what the exact details of the implementation will be, but it'll involve Masternodes implementing NTP protocols which will allow for a very high transaction throughput and low energy consumption :)

fin

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mmm I smell a hint of the tasty Third Way  :-X  guess we're all just gonna have to patiently wait and see :D