Asic bitcoin miner china
In today’s Bitcoin in Brief we are covering a number of stories related to China. According to statements by Chinese officials, asic bitcoin miner china People’s Republic is developing a national standard for blockchain technologies, which should be introduced next year. Also, the Zcash Foundation is taking steps to protect the network of the privacy coin from ASIC-based mining.
China Preparing National Blockchain Standard Chinese authorities are working to develop a national standard for blockchain technologies and applications. The new system should be completed and introduced by the end of 2019, according to reports by state-controlled media in the People’s Republic. The development of blockchain technology may become an important step for China to grasp the global technological competition. Iceland’s Missing Mining Rigs May Have Been Found in China The mining equipment which was stolen from data centers in Iceland several months ago might have reached China, according to media reports from the Nordic nation, which has attracted crypto miners with cheap energy and favorable conditions. The suspected organizer of the heist in Iceland, Sindri Thor Stefansson, fled to Sweden after escaping from a low security prison in his country. He was recently arrested in Amsterdam and is now awaiting extradition to Iceland, where he is going to face trial. Zcash Opposes ASIC-Based Mining after Chinese Giant Launches Equihash Miner Developers of Zcash have stated that the struggle against ASIC-supported mining is a priority.
They have indicated their opposition after the launch of a new application specific circuit designed to process transactions for the privacy coin. Bitmain has a track record of successfully overcoming ASIC-resistant algorithms. The mining equipment producer has already developed powerful miners for many cryptocurrencies whose developers have tried to stop the centralization of hashing power. These include miners for the algorithms Ethash, used by the Ethereum network, and Cryptonight, used by Monero. The management of the Zcash Foundation has decided to allocate resources to study the influence of ASIC mining on the network. The team behind Zcash, however, may be forced to fight a war on two fronts, after researchers from the University College London recently found a vulnerability in the crypto’s algorithms. Student Leaves China after Losing on Crypto Investments A Chinese college student has reportedly lost a small fortune by local standards due to unwise crypto investments and has already left the country in search of better opportunities to compensate the losses.
Liu Ke, a sophomore in his twenties, used all his money to buy cryptocurrency, mostly aircoins, when markets were going up towards the end of last year. What are your thoughts on today’s stories in Bitcoin in Brief? Let us know in the comments section below. Lubomir Tassev is a journalist from tech-savvy Bulgaria, a country that often finds itself at the forefront of technological advances it cannot easily afford. International politics and economics are two other major sources of inspiration. Mike Hearn’s Crowdfunding Project Has Been Resurrected — Meet Lighthouse. Been doing software and hardware since the 80s.
All the latest Bitcoin news, presented by Roger Ver and Corbin Fraser of Bitcoin. Subscribe to our Youtube channel here. Check out all the latest features and create your wallet today! Wallet right to your device for easy and secure access to your bitcoins. Wallet makes using and holding bitcoins easy. Get the latest price charts, statistics and our news feed on your site. Bitmain, which specializes in custom mining chips and miners, has come under increased scrutiny due to the Chinese firm’s control over the production of so much bitcoin hardware and hashing power.