You are viewing a single comment's thread from:
RE: ASIC Resistance is a MYTH : DASH is Conquered
I agree, ASICs will be in every crypto. There is always a specialized computer that can do it better than a regular one, and if not, smart people will figure it out. It's the same with anti-hacking tools.. hackers will always find a way around it. It's an ongoing battle that probably never ends.
Same with ASICS.. if there is money to be made, somebody will figure out how. I don't get caught up too much in the ASIC resistant hype. For me, it's only beneficial in the short term for small miners, because it allows them to hop from project to project and keep mining.
Yes, HYPE is exactly what it is. HYPE and FUD are two of the biggest issues in the crypto space so if we can dispel just a little bit by getting some facts out there then it's a good thing :)
I've been impressed by the Proof of Importance used in NEM(XEM) which is a coin I love more and more as I learn more about it. It's a real sleeping giant. Has no coin creation. The Tx Fees are given to those who mint the blocks. Instead of the Stake in the blockchain NEM measures your importance to the network. If you participate in the network and is involved in legitimate transactions you are more important thus has a higher chance of getting to mint a new block.
Since no new coins are created and you need a massive network to make it appear you are making legit transactions, the incentives to attack the network is very low. I'm not a programmer or blockchain expert. When I researched I found POI to be a really great system that is superior to PoS. Expert analysis from the community is welcome.
I never looked into NEM much somehow, but maybe I should because POI sounds very interesting indeed!
That's just tip of the iceberg. NEM recently had their first ICO COMSA which exceeded 86 million USD(yes, it supports smart contracts and before the end of the year they'd be doing 4000 onchain transactions per second. Take that that Buttcoin.
Also take a look at the partner companies:https://nem.io/enterprise/partner-companies/
NEM is a sleeping giant along with BTS, EOS, SONM, MAidSafe.
NEM does sound interesting. I had a very brief look at it some time ago and it didn't quite "click" for me as I didn't see a standout value add or point of difference beyond the POI. Might be time for me to have another look :)
https://forum.nem.io/t/nem-will-surpass-bitcoin-eventually-and-heres-why-and-when/7447
I didn't care much about NEM at first either. But more I lean the more I love. There are so many use cases with NEM. You have voting, crowdfunding and encrypted messagingfor future Snowdens and privacy lovers: https://nem.io/enterprise/use-cases/
Here is a list of partners from across the globe:https://nem.io/enterprise/partner-companies/
Here is their blog:https://blog.nem.io/
If Ethereum is a PS4 NEM is a Acer Predator 21X $9,000 gaming laptop. I'm not exaggerating. Take your time and research.