I agree MTP was necessary - but needs to be replaced with something else that works well, but doesn’t bloat the blockchain with as much data.
I’ve been following another coin that just went live in Sept. (EPIC Cash) - and I think they are the first coin to actually implement multiple algos running in parallel.
For the first year 60% of the blocks use RandomX (for CPUs), 38% use ProgPow (for GPUs), and 2% use Cuckatoo (for ASICs). Each Era (year or so) after that, the percentages go down for RandomX, up-then-down for ProgPow, and up for Cuckatoo - in theory to secure the network as time goes on.
This is an attempt to ‘spread the wealth’ so-to-speak - and allow better distribution of the coins to more people.
It’s not clear if Epic will actually survive - and in my opinion their current issues are related more to issues with public acceptance of the technical details related to setting up Mimble Wimble servers to run the wallets rather than the algos they have chosen.
There are both benefits and downsides to a multi-algo approach:
- Allows coins, in theory, to be more widely distributed (CPU, GPU, ASIC miners).
- Provides decentralization (in theory) since multiple types or hardware are used for multiple algos.
- RandomX (CPU) and ProgPow (GPU) algos use similar resources to the current resources used by Zcoin’s MTP algo (current miners won’t be too upset with the changes).
- Blockchain 51% attacks are very difficult to achieve since you need to dominate all algos.
- Distribution of coins can be skewed by large CPU or GPU farms (a large portion of Epic RandomX goes to China CPU farms).
- Mining software and pools have to deal with algo changes almost every block, and miners will be idle when the block doesn’t match the miner capabilities (RandomX-CPU, ProgPow-GPU) - although miner software like TT-miner has the ability to switch between coins/pools when blocks don’t match (ie dual mining of EPIC/Zcoin works well).
- Timing of blocks (rate of block creation) seems to be an issue with EPIC RandomX blocks - they are generating RandomX blocks 20% too fast (may be a bug, but may be a few big operators messing around they still aren’t sure - but are working on a fix).
I was very surprised to see how well (more-or-less) Epic’s multi-algo blockchain actually functioned - from day-one.
If going with only one algo - I would vote for ProgPow over RandomX or any other algo that hasn’t proven itself yet like any oPoW (of course as time goes on additional algos could be added to a multi-algo setup).
Full disclosure - I mined EPIC for a week to try it out - switched to dual mining EPIC/Zcoin for two weeks - and now I’m back to Zcoin 100% - Zcoin is THE BEST… Keep up the good work!!!
I hope this helps …