Will litecoin mining eventually go away?

[konrad.kopczynski]

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?

[ltc.kiwi]

By the time that happens will your existing hardware not be outdated anyway?

[Mysecretaccount]

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:

Proposal: A move to ethash/ProgPoW once Ethereum completes it's transition to 2.0

What a weird idea. If there is no catastrophic reason to do it (e.g. hash algorithm is flawed), then hardforking just to completely change the mining algorithm is a very bad idea. The original network for sure would keep running. Why wouldn’t it? Miners have invested in the hardware, everything is running fine, there is absolutely no reason for anyone to leave the network. You can hardfork the network, but I wouldn’t expect most of the community to follow. And even if they would do, the minority…

The Blake3 is not about the LTC main net. You should read David’s update more carefully.

[konrad.kopczynski]

@Mysecretaccount

David’s update

Thanks thats super helpful. Can you share which update you’re referring to? Want to make sure I’m looking at the right one.

[Mysecretaccount]

Here:

MWEB Progress Update Thread

June Progress: Documentation I’ve spent some time documenting all of the code changes to assist our auditors. For those interested, this is the current list of technical documents describing the MWEB changes (several are only partially complete): LIP-0002 - This describes the process for adding extension blocks to LTC, including describing how pegging-in, pegging-out, and integrating transactions work LIP-0003 - This is our original design for Mimblewimble extension blocks. It’s a bit outd…