Is X11 algorithm more fair?
InflationCoin(iflt for short) was launched in November 2016. Iflt began life using the X11 PoW algorithm and after the initial PoW period (6 months after launch) became pure PoS.
Maybe iflt coin is a strange name for miners, but X11 algorithm is not. So why InflationCoin chose to run on X11 algorithm, and why it changed mining mechanism from Pow from Pos. (here is an article helps you to learn about Pow and Pos: Algorithm Combination of Proof-of-work and Proof-of-stake)
DarkCoin created X11 algorithm that suitable for both CPU mining and GPU mining(GPU has high efficiency using this algorithm). Compared with other algorithms of Scrypt set, X11 can distinctly lower down GPU’s temperature by 30% to 50% and electricity cost by around 30%. Therefore, X11 algorithm can be said to be the most GPU-friendly algorithm. With the basic of this practicability, most of current coins start to use X11 algorithm. One of the more famous events was the decision of a group calling itself the LTC X11 group to impose a hard bifurcation on the currency in order to avoid the emergence of the ASIC and GPU mines, using the X11 algorithm in the new LTC
All new algorithms are no exception, and the immediate aim is to resist ASIC mining machines. From Scrypt to X11, to X13, to the POS currency. Sterlingcoin (SLG for short) is the world's first currency to use the X13 algorithm. What is slg,Sterlingcoin is the first X13 coin to launch with services such as merchants, exchanges, mining pools, paper wallets, block explorers, API, online wallets, Android and even an iOS wallet from launch.
Is the X11 algorithm an angel or a devil? A revolutionary breakthrough of the algorithm or a hype for cheating money? Because of the high efficiency of the algorithm, GPU does not need more power to mine. For GPU miners, the cost of electricity has fallen significantly. Using X11 at the same time will prevent ASIC machines from appearing in the short term, allowing CPU/GPU users to mine for long periods of time. Currently, the SHA-256 algorithm is dominated by bitcoin, and other POW virtual currencies have no foothold and will be killed instantly. The X11 algorithm was introduced at this time and, like Litecoin, was primarily intended to resist the expansion of the ASIC mining machine.
ASIC mining machine is the necessity of POW mechanism. If you are not satisfied with such system, it can be changed into POS algorithm directly. PPC and NXT are both winners in this system. Playing Marx's fair game in the POW world will not work, and sooner or later will be defeated by the cruel market competition.