A few days ago, Bitcoin fork Bitcoin Interest (BCI) successfully switched to the new ProgPow mining algorithm, becoming the first cryptocurrency on this mining algorithm. ProgPow is a proof-of-work algorithm designed to reduce the production efficiency gap with ASIC devices. The new mining algorithm will be expedient to use with almost all types of equipment: GPU, CPU and ASIC.
For more information, please contact the official website of Bitcoin Interest (BCI), and the miners may be interested in software supporting the new algorithm, BCI mining pools and Calculator of profitability calculation of Bitcoin Interest.
The goal of ProgPow is to ensure that the requirements for the algorithm meet the requirements of current GPUs, so if ASIC miners are developed for the new algorithm, their developers will have few opportunities to increase performance in comparison with traditional GPUs. All this means that most likely under ProgPow will not be developed ASIC devices, due to the lack of possibility to get much more performance when using ASIC-chips. This basically means that ProgPow should theoretically be really resistant to ASIC.
Algorithm ProgPow was developed for optimal performance when working with modern GPU models and tested on 6 popular video card models. The average performance of video cards on the ProgPow algorithm is shown below. Since this algorithm almost 100% uses the capabilities of modern GPU, the results reflect the relative performance of GPUs, which is similar to other gaming or graphics applications.
- AMD Radeon RX 580 = 9.4 MHS.
- AMD Radeon Vega 56 = 16.6 MHS.
- AMD Radeon Vega 64 = 18.7 MHS.
- NVIDIA Geforce GTX 1070Ti = 13.1 MHS.
- NVIDIA Geforce GTX 1080 = 14.9 MHS.
- NVIDIA Geforce GTX 1080Ti = 21.8 MHS.
In addition, there is Blockchain-explorer for BCI, and repository Bictoin Interest on GitHub, where you can download the official purse. Currently BCI is traded on several crypto-exchange exchanges, including BitFinex, Stocks.Exchange, HitBTC, Exrates and Trade Satoshi.