WTF is Pyrin?! PYI

Summary

In this engaging video, the host Blind Rod discusses Pyon, a new fork of the Casper blockchain, which has garnered attention in the cryptocurrency community. Pyon has switched its mining algorithm from SHA-256 to the more recent Blake 3, which is gaining popularity across various cryptocurrencies, including Ethereum (now Hyperledger). Initially, Blake 3 offers ASIC resistance, but this may change as specialized hardware develops. The host notes that while Pyon promotes itself with features like fast transactions and security, it doesn't present anything uniquely different from other cryptocurrencies. Despite this, early miners might benefit from higher block rewards and less competition. The video provides a guide for setting up a Pyon node and wallet, as well as mining on the network using tools like LOL Miner. The host also offers speculative insights into Pyon's potential market performance, comparing it to Casper's launch and advising viewers to do their own research before investing. The video concludes with a call to action for viewers to follow the host's channels for more informative content.

Takeaways

• 🚀 **Pyon Introduction**: Pyon is a new fork of the Casper blockchain with a focus on changing the mining algorithm from SHA-256 to Blake3.
• 🔍 **Blake3 Algorithm**: The Blake3 algorithm is gaining popularity in the blockchain space, being implemented in Ethereum (now Hyperledger) and other coins like Radiant and Athum.
• 🤔 **ASIC Resistance**: Initially, Blake3 may offer ASIC resistance as no ASICs have been developed for it yet, but it's expected that FPGAs and ASICs will eventually be developed.
• 📈 **Market Expectations**: There's speculation that Pyon could achieve high adoption rates similar to Casper, which could lead to a significant price increase upon release.
• 💻 **Mining Setup**: Setting up mining for Pyon is straightforward, with guides available for both Linux and Windows environments.
• 📉 **Initial Block Rewards**: Pyon's initial block rewards are lower than Casper's, which could impact the initial coin listing price and subsequent market behavior.
• 🔗 **Community and Support**: Pyon is already gaining community support with pools like E4 Pool and B Mine LOL Miner supporting it, indicating growing infrastructure.
• 📚 **Educational Resources**: The speaker provides educational content on how to mine Pyon, including node and wallet setup, and encourages viewers to do their own research.
• 💰 **Speculative Mining**: The speaker highlights that getting involved early in mining can be advantageous due to higher block rewards and less competition.
• 📘 **Promotional Materials**: Interested parties can find more information about Pyon through their Medium blog post, Twitter, and other social media platforms.
• 🧵 **Node and Wallet Guide**: A node and wallet guide is available for those wanting to set up a Pyon wallet, with the process outlined on the speaker's website.

Q & A

What is Pyon and what is its relation to Casper?

Pyon is a recent fork of the Casper blockchain. It has taken the Casper blockchain, forked it, and changed the mining algorithm from SHA-256 to the Blake 3 algorithm.

Why was the mining algorithm changed to Blake 3?

The Blake 3 algorithm has been implemented in various hashing algorithms due to its efficiency and is considered superior to SHA-256. It has a simplified API and is being used in projects like Ethereum (now Hyperledger) and other coins like Radiant and Athum.

Is Blake 3 ASIC-resistant?

Initially, Blake 3 may be ASIC-resistant as ASICs for this algorithm have not been developed yet. However, it is expected that FPGAs and eventually ASICs will be developed for Blake 3, as it still focuses on core-centric processing.

What are the key features of Pyon that are being promoted?

Pyon promotes the Blake 3 cryptographic hash, fast transactions, decentralization, scalability, and security. It also utilizes the GHOST protocol introduced by Casper.

How is Pyon different from Carlson in terms of algorithm plans?

While Carlson aims to change its algorithm to remain ASIC-resistant, Pyon does not indicate any plans to move off the Blake 3 algorithm.

What are the speculative mining advantages for GPU miners in the early days of a new fork like Pyon?

In the early days of a new fork, GPU miners may benefit from higher block rewards and less competition from other mining hardware.

How can one start mining Pyon?

To start mining Pyon, one can follow a node setup guide, generate a wallet address, and use mining software like LOL Miner with the appropriate configuration for the Pyon network and a selected mining pool.

What are the available resources for someone interested in Pyon?

Resources for Pyon include their Medium blog post, Twitter, Discord, Telegram, and Bitcoin Talk forums. There are also guides on setting up a node and wallet available on the website locals.sonofatech.locals.com.

What is the block reward for Pyon?

The block reward for Pyon is 17 PIR, which is lower than the initial block reward for Carlson, which was 50.

What is the potential initial coin listing price for Pyon, considering its block rewards and adoption rate?

If Pyon achieves a similar adoption rate and hype as Carlson, the initial release price could double that of Carlson, potentially reaching around 30 cents before adjusting to a more stable value.

How does the speaker view the creation of how-to videos for new networks?

The speaker creates how-to videos to provide resources for individuals to make their own decisions, not because they necessarily endorse the networks as the next big thing. The focus is on offering information for educational purposes.

What is the speaker's stance on financial advice and personal opinions in the context of the video?

The speaker clarifies that any price projections or mining advice given are speculative and not financial advice. They encourage viewers to do their own research and make decisions based on their findings.