Comment Re:Kick them out (Score 2) 46
The more decentralized mining is, the harder the 51% attack
Therefore, you want mining that is about as efficient on a current CPU as it is on a high end GPU or even ASIC. That way big server farm investments scale up with a low integer factor -- compared to a Bitcoin ASIC farm which can be (IIRC) dozens of millions of times more efficient per dollar than your PC CPU.
Various strategies were considered and tested. The end result was really clever: create a simple virtual machine with specific characteristics (such as non-halting totality, and a syntaxless bytecode). The one-way function is simply to run the random input program to completion, and provide the output. In other words, be a CPU.
The algo was specifically released as a separate standalone so others could pick it up. But there is only one crypto that uses it. It's the one that actually encrypts the data on the blockchain, has hundreds of
I just checked, for the first time in probably 2 years. Huh. It's not even in the top 25 market cap anymore. But it's the only coin that IMO for better or worse matches the original Tim May style cryptoanarchist vision that Satoshi was gesturing towards. And I don't need to say its name because you know which one it is.