It’s been a little over two years since Ethereum’s inception, and in that time, it’s become the second most valuable cryptocurrency after Bitcoin. One of the key reasons for Ethereum’s success is its mining algorithm, which is designed to be ASIC-resistant.
This means that unlike Bitcoin, which can only be profitably mined with ASICs, Ethereum can be mined with commodity hardware like GPUs. This has led to a more decentralized mining ecosystem, and has helped to keep Ethereum’s inflation rate low.
However, there are some signs that this may be changing. Recently, a company called Bitmain has released an Ethereum ASIC miner called the Antminer E3.
This miner is significantly more efficient than any GPU on the market, and could potentially centralize Ethereum mining if enough people adopt it.
The good news is that the Ethereum community is aware of this problem and is already working on solutions. One proposed solution is to change the mining algorithm so that it’s no longer ASIC-friendly.
This would make the Antminer E3 obsolete and would level the playing field for miners once again. There’s no telling whether or not this solution will be implemented, but it does show that the Ethereum community is committed to keeping its network decentralized.
In conclusion, it remains to be seen whether or not ASIC miners will have a significant impact on Ethereum. However, the community is aware of the problem and is working on solutions that would level the playing field for all miners.