Focused on the anonymity of cryptocurrency Zcoin runs in my test network a working version of MTP v1.2 (Merkle Tree Proof), ASIC-resistant algorithm Proof-of-Work (PoW). The project Zcoin was founded in September 2016 to address problems of decentralization and anonymity in the blockchain. It was the first cryptocurrency, implemented on the basis of the Zerocoin Protocol to ensure financial privacy by using a proof with zero disclosure.
Aglorithm MTP created the cryptographers Alex Biryukov and Dmitry Khovratovich in June 2016 for mining on graphics cards and processors and counter the centralization of ASIC mining. In review for Bitcoin Magazine chief operating officer Zcoin Ruben YAP explained that the MTP seeks to monopolize mining cryptocurrencies:
If you have specialized machines, X dollars will give you 1000 times more Hasrat than if you spend X dollars on the processor or graphics card. Spending $2000 on bitcoin-asik, will I get better performance compared to graphics cards for the same $2000. The essence of the MTP to the price and performance were close regardless of whether you are using asik, video card or processor, so nobody can gain an advantage through the use of specialized equipment. This return to the idea of Satoshi about egalitarianism: one CPU one vote.
YAP added that manufacturers such as Bitmain, today there is no incentive to sell the miners at more affordable prices.
MTP v1.2 was introduced in January 2018 as the improved algorithm against the attacks that are detected as in the expert studies and in the course of Zcoin-funded bounty programs. MTP can handle amounts of memory from 2 to 8GB, which distinguishes it from other leading PoW-algorithms such as Scrypt, Cryptonight and Equihash.
MTP also preclude the use of botnets (infected computers that are “forced” to mine cryptocurrency), since involvement of big amount of memory should significantly influence system performance and thus to warn the user about the infection. In the past, botnets are often used ASIC-resistant algorithms.
Zcoin now pills code MTP in preparation for the advanced test. The project will also launch a bounty program for miners wishing to take part in finding bugs before the launch of MTP in the core network.
We will remind, recently a Chinese mining conglomerate Bitmain announced the release of Asimov focused on mining other anonymous cryptocurrencies — zcash for, which led to disputes in the cryptocurrency community.