【plans to change hash algorithm】Lyra2vc0ban


#1

We, c0ban project plans to change hash algorithm from Lyra2REv2 to Lyra2vc0ban. We are not sure what height the changes will happen. We will determine its height after installation and testing.

The reasons of changing hash algorithm are the following three.

  1. Most of miners for c0ban are cloud miners.
  2. We can not say that cloud miner services are stable very much
  3. If miners who use real mining machines increase, it increases stability. But it is very hard environment for real machine miners.

Last hard fork on height 1,450,888, 7 Sep, c0ban project expected that we could spread the foot of miners. However we can see that most of miners are those who uses only cloud mining services after the hard fork. If cloud mining services are down or halted, changes on hash rate for c0ban become very big and lead unsustainable. We could say that it is not good status for operating public chain coins.

As a countermeasure, c0ban project decided to change hash algorithms from Lyra2REv2 to Lyra2vc0ban which can not be mined by ASIC machine and not available on major cloud mining services as of now. It would be the first step for countermeasure, c0ban project will create an original hash algorithm called c0banHash for development of c0ban.

We may request to service providers who use c0ban to take care of version up. We will let you know on the forum once ready.

Best regards,
c0ban project