may I spend a couple words on the algo: history says every algo can be "broken" (using fpga or asic), so why change it again and go thru all the hassle of forks and wallet updates? in the end what matters is coin stability and hashrate distribution which don't necesarily go worse with asic or fpga; btw cpu/gpu mining is over for most of us anyway.
unless there is some crypto breaktru I'd stay with groestl.
This is especially true if in another 6-8 months block rewards are going to drop to .1 then there is no point to switch algos? The mining will be negligible and most of the network support would come from the wallets minting correct? Just wondering if it makes sense overall. In 6-8 months asics/fpgas can point here all they want if you are only getting .1 dmd per block it is probably not worth it for them. Maybe I misunderstand something but just my thoughts before coffee. :-)
hybrid security is a core concept of DMD Diamond
which mean there is at least 2 ways of generating blocks
we will keep that feature
POS will stay for sure
but its not a law written in stone which way will be the second way to generate coins
keep actual algo for pow
or switch algo
or expand to multiple pow algos
or even no pow algo and instead another coingenerating way
What about neo-scrypt for pow?
Or merge mining.
As pokeytex put it, changing algorithm for any other neo or some other doesn't mean much right now.
Once the POW reduction happens, POW will stay there just to keep the speed of transactions.
There is a strong point for switching to SHA256 but only under certain conditions where network security is ensured and backed by some serious cloud mining.
We could also explore other ways of securing the network that would incentivise people for doing non minable jobs but with overall benefit to the whole thing.
The days of direct mining are coming to an end - in classical sense - the best bet for those with mining gear would be to use multipool and mine for Diamonds and shares in Diamond Cloud Mining.
This actually is a pretty good investment return combo.
As for general security we are building something that would make any attempt of taking down the network (POS) pretty expensive. So looking from that perspective PoW in future won't necessarily hold a crucial position.