Thursday, January 18, 2018

Bitmain Unveils the Antminer A3 ASIC Miner for Siacoin

siacoin large

In the world of cryptocurrency mining, ASIC hardware is in high demand. Although many people would associate this type of hardware with Bitcoin or Litecoin mining, there are devices suited for other currencies as well. More specifically, Bitmain has announced the Antminer A3, which is designed specifically for the Blake (2b) algorithm. So far, there is only one (major) currency which uses this algorithm. Fans of Siacoin will be pleased to hear that this device exists.

A New Siacoin ASIC Miner

It is always good to see mining hardware manufacturers look beyond Bitcoin and the top cryptocurrencies. There is plenty of mining hardware for a select few currencies, even though there are plenty of other coins to keep an eye on as well. Especially when it comes to currencies using slightly different mining algorithms, there are plenty of opportunities waiting to be explored. It is somewhat surprising to see a company such as Bitmain introduce a miner for Siacoin, but it was only a matter of time until this came about.

According to the company’s website, the new Antminer A3 will cost US$2,375, which does not include shipping costs or taxes. It is a very steep investment for people who are excited about Siacoin, but there is a good chance they will make their money back sooner rather than later. Some people even claim this device is capable of generating US$300 worth of SC in one day, although your individual mileage may vary. If a few of these machines hit the network at once, those earnings will quickly drop by half or more.

On the technical side of things, the Antminer A3 offers a mining speed of 815 GH/s. Do keep in mind there is always a variance of up to 5% to contend with, but it still packs a lot of power into a rather small form factor. As one would expect, the power requirement for this unit is not on the low end of the spectrum. The A3 is expected to draw an average of 1.186 kilowatts from the wall, which makes it a rather power-hungry machine. At the same time, if people can still make a few hundred bucks a day despite these electricity requirements, we can only wonder what future, more energy-efficient models may bring to the table.

Moreover, the Antminer A3 weighs 4.2 kilograms, with operating temperatures of anywhere between 0 and 40 degrees Celsius. This is in line with most other cryptocurrency mining ASICs produced by this Chinese company these days. On the noise front, the A3 is a rowdy machine, as it produces around 76 decibels when under full load. Cryptocurrency mining is not something people do in their living rooms, for obvious reasons. It is something to put in one’s basement or anywhere else with access to clean and cool air.

As was to be expected, there is a genuine demand for this particular mining unit already. In fact, it seems the demand is so great that people have been seeing “out of stock” messages on the site already. That in itself is rather interesting, although it is unclear how many of these units are currently available for purchase. People willing to take the plunge can make a lot of money by buying these units in the first batch, mining plenty of Siacoin, and selling the units a few weeks later to the people still waiting for their orders. That is how most people do it these days, anyway.

For the time being, it is unclear how the Antminer A3 will affect the Siacoin ecosystem. It is evident this new ASIC miner will bring more hashpower to the network, even though the exact impact is difficult to gauge right now. It is good to see more interest in alternative currencies first and foremost, as cryptocurrency is about so much more than just Bitcoin or the top altcoins. Moreover, it will be interesting to see how many units Bitmain actually ships in the coming months.



from The Merkle http://bit.ly/2BcdMWS

Bitcoin's price has fallen, but it's still using more energy than New Zealand - Vox


Vox

Bitcoin's price has fallen, but it's still using more energy than New Zealand
Vox
Mining bitcoins — or verifying transactions to get coins — is a hugely energy-intensive process because of all the electricity needed for computational processing. About 80 percent of mining costs go toward electricity. Unlike conventional currencies ...

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from bitcoin OR blockchain OR cryptocurrency - Google News http://bit.ly/2rjAP2u

Bitcoin Roller-Coasters Back Above $11000 After a Frantic 24 Hours - Fortune


Fortune

Bitcoin Roller-Coasters Back Above $11000 After a Frantic 24 Hours
Fortune
The largest digital currency climbed 2.1% to $11,620 at 11:34 a.m. in London, Bloomberg composite pricing showed. It held fairly steady for much of the Asia trading day as investors took a breath following a frantic 24 hours in which the digital coin ...

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Blockchain Services Ecosystem LuxCore Unveils Major Upgrades to its Platform

Lately bitcoin has not been rising in value on the markets as it’s expensive and slow transaction times, has a lack of upgrades, and more. Ethereum is catching up fast and even Ripple gave it a run for its money despite the currency being pre-mined. So, while the bitcoin network itself is divided on these crucial upgrades and has fear of more forks, there is an opportunity for other coin-based networks that offer solutions in the form of smart contracts and better transaction times to come forward and claim a slice of the cryptocurrency pie.

Disclosure: This is a Sponsored Article

While there are ICOs that release coins that are basically blockchain-based shares, the number of robust new cryptocurrencies to rival bitcoin and Ethereum have slowed down in recent times after it is clear that it takes something special to succeed. LuxCore, a new cryptocurrency and programmable blockchain has recently announced crucial upgrades like Segwit upgrade, revolutionary layers of privacy and security and closed source services like parallel masternodes and LuxGate.

These upgrades are bold moves and are likely to appeal to crypto traders because coins often struggle to update their system the way it is supposed to be in the future. The problem with consensus-based systems is that crucial upgrades often take back seats and thus the true potential of the coin is affected. LuxCore is offering a mix of the two worlds for the advantage of the crypto traders and investors.

LuxCore System

Many cryptocurrencies currently use Proof of Work (POW) systems that are eating away the world’s resources and together are using more electricity than several countries combined. LuxCore’s new GPU PHI1612 algorithm built from: Skein, JK, Cubehash, Fugue, Streebog and Echo is one of the best ASIC resistant mining algorithms ever created and will help in diminishing the role of mining cartels and give the power back to individual GPU-based miners.

LuxCore’s system is essentially a mixture of POW and POS that minimizes the time and power needed for mining at an individual level. There is also an option of extensive options for privacy and security available for each user that aren’t currently available on other networks.

New Updates to the System

New updates to the LuxCore system include Segwit upgrade that will be introduced around the 20th of February, 2018 timeframe by the LuxCore system, the option of writing smart contracts into the blockchain, a groundbreaking concept of parallel masternodes that are run by individual users and extra layers of security.

For using masternodes, one needs to lock at least 16,120 LuxCoins on to his system and then he is eligible for Proof of Service based rewards. The rewards are randomly distributed to Masternode owners. The platform is going to grow organically like other coins in the business and there is no Token Generation event slated for the platform. You can download the LuxCore wallet from its official website directly.
Visit the Luxcore Website: https://luxcore.io/



from The Merkle http://bit.ly/2FRuGO0

This week's Bitcoin crash was all about fraud and regulation - The Verge


The Verge

This week's Bitcoin crash was all about fraud and regulation
The Verge
Taken together, these events may simply act as another reminder of the “volatility” of the cryptocurrency market, which saw bitcoin rise to a peak of $19,783 on December 17th. Bitcoin has gone through multiple crashes before: in spring 2011, in ...
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from bitcoin OR blockchain OR cryptocurrency - Google News http://bit.ly/2DocNc9

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