The Ethereum Mining Algorithm

Has a specific mining algorithm been decided upon for Ethereum at this point? I may be just overlooking it, but I cannot find an up-to-date mining algorithm mentioned. I know dagger has been discarded.

I only ask, as we are creating an Ethereum "Coin Page" and would like to have an accurate mining algorithm assigned to it, if there is one.

Comments

  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    This is information can be found in:

    https://www.ethereum.org/pdfs/EthereumWhitePaper.pdf

    and

    https://www.ethereum.org/pdfs/Ethereum-Dev-Plan.pdf

    But TL;DR: We're aiming for either a turing complete PoW algo, or a randomized hash function every thousand nonces. The algo has not been decided on yet. We are also considering PoW/PoS hybrid.
  • CoinBriefCoinBrief Member Posts: 4
    Ok, thank you. That is what I thought, but I did not want to leave the algorithm blank if a decision had been made.
  • richtrixrichtrix Member Posts: 7
    I hate to troll here but I've been on this board since March and have been interested in Etherium since late 2013. They've been debating about how Etherium will be mined for some time. I've not checked back here for a while but a friend shot me a text and asked me if I was buying during the presale. I looked back over here to see what was up and saw that several million dollars worth of Etherium has been presold already. Etherium is a very ambitious project and the implementation has been slow because of this (I assume). I believe the initial sale was first scheduled for February or March. Anyhow, maybe mining is trivial compared to the rest of the functionality of Etherium but might I ask why the heck hasn't this been figured out yet especially now that you've collected millions in an IPO?
  • TylerderdenTylerderden Member Posts: 1
    Yeah I want to know this too to make sure I have plenty of hash ready to mine this. hopefully it is something efficient.
  • cigcig Member Posts: 7
    Vitalik once wrote, on SHA256 as PoW:
    the only way to mine is to either start a multimillion-dollar ASIC manufacturing company or purchase an ASIC from one that already exists.
    which is exactly the state of CPU mining: the only way to CPU-mine is to start a competitor to Intel/AMD/ARM or buy a CPU (a kind of ASIC) from them. Basically once the race is over, ASIC mining converges to the same economics as CPU mining (that of commodity chips), so there's no disadvantage to use SHA256, and some advantages: SHA256 chips use all the available silicon for mining, while all CPU mining algorithms will leave some transistors idle thus wasting chip real estate which could be used for other things. As a bonus, it diminishes the incentive criminal miners have to steal CPU time, thus diminishing the legal attack surface on blockchain technologies.

    So my conclusion is that, because Vitalik is likely to remain internally consistent, he will choose SHA256 for any ethereum PoW mining algorithm.
  • JasperJasper Eindhoven, the NetherlandsMember Posts: 514 ✭✭✭
    edited July 2014
    If you need general purpose computation to mines, if you try to ASIC it, you'll just end up with a bad CPU. CPUs are basically the newest microchip tech that ends up in consumer hands, and it would be highly impractical for the companies to just start mining for themselves. Gamers will demand the newer stuff, as will governments and everyone else.

    And hashing power doesnt matter, what matters is how hard it is to catch up with the rest of the network. It doesnt matter how much of the silicon is used. Infact less is probably better energy-wise.

    Sorry, but if bitcoin is ever superseded by something else, it will probably not use SHA256, and the SHA256 machines will just just be door stops and paperweights. Looks like that will take a long-ish while though.
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