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Execoin: prepared for scrypt ASIC threat

January 27th, 2017 | by BTC News

Execoin: prepared for scrypt ASIC threat

Execoin is a virtual crypto currency with strong resistance to new generations of scrypt ASIC. Designed to overhead future scrypt ASICs development Execoin includes a number of features making it a sort of unique coin on the market. First, it’s resistance to ASIC miners grows progressively to assure strong protection against more and more powerful custom scrypt miners in the future. Then, different core design and implemented Kimoto Gravity Well technology provide resistance to multipooling, which is also a serious threat for cryptocoin’s network. In addition, 45-seconds block time provides blazing fast transaction confirmations and make Execoin the fastest cryptocurrency among ASIC-protected ones.

Execoin implements an idea of ASIC-free zone, where CPU and GPU miners and investors might be protected from the impact of scrypt ASIC. Currently the hashpower of GPU miners operators is oriented to scrypt-based coins. Bitcoin and other SHA-based coins are currently mined by ASIC only due to extremely high difficulty generated by these ASIC. However, new ASIC for scrypt algorithm are on the way to radically change the whole balance of force in crypto world. Obviously, scrypt ASIC will make GPU mining of all scrypt coins financially unfeasible. Execoin, however, offers an alternative to the power of ASICs. Its innovative Progressive-N algorithm progressively increases memory usage required for mining to prevent the impact of more advanced and powerful ASICs that will be released in the future. In addition, Execoin is multipool-proof and has the fastest block confirmation compared to very few other ASIC-resistant coins. Let’s make in depth review of Execoin features and mark the issues crypto market has to deal with!

Scrypt ASIC problem

No doubt that ASIC for scrypt algorithm will significantly change the entire crypto coin market and this will happen soon. Several models of scrypt ASICs already been announced recently and their number will grow with time like a wave. Looking at Bitcoin ASIC progress we can predict the same scenario for scrypt ASICs, which means they will be released in a progressive manner, more and more ASICs will be announced by different vendors.

Execoin is positioning and designed for the coming scrypt ASIC era. What will happen when GPU mining rigs will be pushed out of their comfort zone by this custom mining hardware? Scrypt ASIC will make mining with GPU absolutely pointless and hashpower of GPU rigs will need to switch to some alternative, still profitable for mining. Execoin has been created to provide such ASIC-free zone. This migration will lead to rapid rise of hashrate in Execoin network and the same rise of EXE price in the exchanges, however both network difficulty and exchange rate should self-balance not being affected by enormous hashpower of ASICs. So GPU mining in this network will stay profitable for a long time.

Multipools impact

Multipooling is a known problem for any coin network. Multipools immediately raise the difficulty when start mining some coin and then leave the network with lower hashrate when switch to another coin. Many scrypt-based coins implemented Kimoto Gravity Well to be protected from multipools effect. This technology has been successfully implemented in Execoin as well. However, Execoin developers believe KGW alone doesn’t not guarantee effective multipool-resistance. Multipools require that the same miner software with the same parameters to be used to mine any scrypt-based coin. Execoin is based on a different algorithm and requires modified miners and custom settings not compatible with multipools making it impossible to mine by multipools. This algorithm design factor and Kimoto Gravity Well together effectively resist multipooling.

“Buy and Hold” investment

Investment into scrypt ASIC proof coins is the choicest investment option now, when it’s obvious that scrypt ASIC are real and will be unpacked and start mining late this summer. Buy and hold strategy is likely to bring a high profit when scrypt ASIC will say their word. Despite of constantly growing market value Execoin is still undervalued and have a high margin potential being purchased before the price rise. Coins similar to Execoin with ASIC resistance are likely to repeat the rise of Litecoin in 2013 when ASIC for Bitcoin were massively released. Huge hashpower of ASIC turned Bitcoin GPU mining into something non-profitable and GPU mining operators turned their heads to Litecoin, which provided resistant to Bitcoin ASIC. Litecoin prices on exchanges soared as a reaction to growing popularity. The same scenario is likely to happen soon to Execoin. Being highly undervalued this coin has a higher potential margin than any other cryptocurrency on the market and is currently a coin of choice both for investors and miners.

Conclusion

Execoin is a cryptographic currency designed and oriented to resist scrypt ASIC (custom mining devices for Scrypt algorithm). A very high chance that upcoming crypto market changes will play into Execoin’s hand make it a coin of choice for GPU miners and investors. Fastest block time, strong multipooling resistance, innovative scrypt ASIC resistance based on progressive-N algorithm and growing infrastructure are major features of Execoin. According to the recent publications and facts about new scrypt ASIC Execoin looks like very promising coin and investors should definitely pay attention to it as to buy and hold investment.

For More Information Please Visit http://www.execoin.net/.

Execoin is a scrypt-ASIC proof and multipool-resistant crypto currency with the fastest block confirmation time.

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