ZelHash is an Equihash 125_4 variant with some special tweaks to discourage both FPGA bitstream and single-chip ASIC development
- Miner will be available for both Nvidia & AMD
- Open source reference miner for future development
- No NiceHash rentals or other cheap hash attacks available
- Possibility that exchanges can lower # of confirmations
- Block header size is minimized, marginally improving blockchain size
- ZelHash will be released with other network upgrades
What Is ZelHash
ZelHash will be the new proof-of-work algorithm that powers the Zel blockchain via GPU mining. Since the start of the project, Zel has consistently maintained our stance to resisting the centralization of network hash power from ASIC development. Zel originally started life as standard Equihash (200_9), then pivoted to Zhash/Equihash 144_5 after ASICs were released for 200_9. Now with the possibility of FPGAs and/or ASICs for Zhash, Zel is developing its own POW algo along with lolMiner developer, Lolliedieb.
The new algo will be released with other network upgrades, including updated Zcash codebase to inherit the great features the Zcash Co. team keeps building.
ZelHash is still an Equihash variant, using n,k values of 125_4. This isn’t particularly novel as some other coins use the same variant, but being a newer algo will help outpace ASIC development for the time being. What makes ZelHash more important as a POW algo are some tweaks to the time/memory trade-off schema, rendering FPGA’s much less efficient, and evening the playing field for GPU miners in the future.
Though ZelHash will be mineable by both Nvidia and AMD, it is not known what the hash rate delta will be at this time. ZelHash being an Equihash variant means Nvidia will likely still have an edge over Team Red; hash rates will be published before the network upgrade activation so everyone can be ready to start mining.
Current Progress & Schedule
ZelHash is running on a closed testnet right now and the first pass is being evaluated. The network upgrade will be tested internally for any issues with Zel blockchain or ZelNodes, and possibly a small public testnet if there is time.
We are aiming for everything to be ready by the end of May, with the network upgrade blockheight being sometime in mid-June (activation). We will release more information as it becomes available.
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Written by Zel Technologies, GmbH — 18 May 2019 — Rev. 1