The Future of Mining and the Importance of ASIC Resistance

Mining is a staple aspect of major decentralized networks like Bitcoin, Ethereum, Bitcoin Cash, etc.. Over the years, due to the profitability of earning block rewards, mining has become a business operation studded with billion-dollar companies like the infamous Bitmain. Proof of Work networks have evolved due to the rise of mining farms: fewer independent nodes are adding hash power to the network. Today, the vast portion of network hash rates on the largest decentralized blockchains is sourced from massive mining farms. Because of this, some blockchains have reached a point where mining farms have become a necessary evil as the networks now rely on them to maintain the hash rate level needed to keep the network secure.

There’s a cruel irony here.

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