Why are ASICs the right move for cryptocurrencies? | Obelisk

Why are ASICs the right move for cryptocurrencies?

Please see the full blog post here: https://blog.sia.tech/choosing-asics-for-sia-b318505b5b51

There are essentially a few main reasons:

  • GPU mining leaves smaller cryptocurrencies more vulnerable to attack.
  • ASICs better align incentives between users and miners, because they introduce a switching cost for miners.
  • Someone at some point will develop ASICs for Sia. By introducing them first, and selling them to our users, we can ensure that the network remains decentralized.