As a current litecoin miner, and considering whether to increase my investment in mining, I’m a little concerned about a potential future switch to proof of stake or to a different hashing algorithm.
The second is prompted by and artivel on Tron Weekly titled " Dev blames himself for Litecoin MimbleWimble delay, says “perfection takes time”" from august re the mimblewimble update, which includes the following sentence “Litecoin uses the hashing algorithm called SHA2-526. However, the network is now slowly transitioning to the “much-faster” Blake 3 for all MWEB hashes.”
Does this mean that the current generation of miners (L3 / L7) will no longer be viable in the future for Litecoin mining?
And related, have there been any statements from Litecoin org re their plans re mining / proof of stake?
There is absolutely no intention to switch to POS. It’s a BS that comes up practically every month. Actually, it is even impossible to switch to POS due to the game theory in play. I have tried to explain it here:
The Blake3 is not about the LTC main net. You should read David’s update more carefully.