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In a recent development, the blockchain network Sia has decided to release the code for a hard fork that will prevent the Siacoin miners from using drilling rigs created by large mining producers. As stated by a representative of Sia, some producers of mining hardware, in particular Bitmain and Innosilicon, are seen as bad actors who are damaging the network.
For this reason, the founder and current CEO of Nebulous, David Vorick, announced that Siacoin would have faced a tough obstacle on October 31st. According to him, users who wish to stay in the Siacoin network will have to move to a new version of code 1.3.6 before the hard fork. Furthermore, he said that all the major exchanges would be involved.
Mining hardware manufacturers are damaging the Sia network
The decision to make a difficult fork came after a long debate at the Sia blockchain community. The discussion lasted a whole year, and in the end it was decided to stage a tough fork in October.
Due to the fact that Bitmain has extracted Siacoin for months in secret, and Innosilicon has managed to extract about 50% of Siacoin with only one address, it was decided that only ASIC processors created by Obelisk will be able to extract Siacoin in the future .
In short, ASIC miners made by Innosilicon, Bitmain and probably other data mining hardware manufacturers will be blocked by the blockchain.
The Siacoin team continues to prefer ASIC-based mining to GPU-based mining, as many GPU-based mining environments have suffered 51% of attacks in the past, while ASIC mining projects have managed to avoid such incidents. At the same time, only the mining equipment created by the Obelisk will be allowed.
Is Siain going towards the centralization of mines?
Obelisk is a known subsidiary of Nebulous, the company behind Siacoin, which is why many have criticized the move, calling it nothing more than a way to protect the investment made in Obelisk. Much of the cryptic community believes that this will only create a monopoly on Siacoin's extraction and that it is another step towards centralization of mining.
It should be noted that Siacoin is no stranger to the hard forks and he already had several. The change of algorithm previously led to two forks separated from the network: Both Prime and Sia Classic.
Furthermore, in July, Hyperspace decided to separate from the network due to numerous disagreements on development.
They also published a statement about the new hard fork and said that Hyperspace has different points of view from Sia. This is why they forked first and will keep the hashing algorithm blake2b. In addition, as part of the same announcement, Hyperspace invited users of Bitmain and Innosilicon to join the Space Cash Mining at any time.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Lukasbieri / Pixabay
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