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What’s In Store For ASIC Miner E3 And Ethereum Miners?

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ASIC

The world’s leading mining hardware firm Bitmain has released their long-awaited Ethereum Antminer E3 on Monday 2nd April. There were several rumors, leaks regarding the upcoming launch of Bitmain Antminer E3 Ethash ASIC Miner since February when a China-based technology news site ‘technews.cn’ published details about the expected hardware. The rumors got strengthened when a leading Wall Street research firm Susquehanna slashed price targets for leading international Chipmakers which are Nvidia and AMD claiming that they have confirmed the news that the Bitmain has started production of their Ethereum ASIC Miners.

Features & Specialties:

  • E3 is the first ASIC miner produced by Bitmain that is capable of mining Ethereum (ETH) and other cryptocurrencies.
  • It uses the Ethash/ Dagger-Hashimoto algorithm and delivers 180 MHS hashrate at the power usage of 800W.
  • The price tag at this sensational hardware mining tech is $800 USD.
  • The first batch of Antminer E3 Ethash ASIC miners is set to be shipped 16-31st July according to the information at Bitmain’s official website.
  • There’s a limit of purchase to ensure more buyers worldwide that is five miners per user.
  • The user would need an ATX PSU with sufficient 6-pin PCIe connectors and the ones on the hashing board need to be connected to the PSU for the hashing board to operate.

Ethereum’s Increasing Hash Rate:

According to the uptrend and dramatic increase in Ethereum’s hash rates in the past months, its evident that Bitmain has already started using these miners. Pre-orders are open, and it seems as the net result of Antminer E3 is going to be positive for the industry. The ASIC development and centralized hash power are currently in the hands of Bitmain only and analysts find it argumentative.

Strengths and Weaknesses of ASIC Chips:

As the name suggests Application Specific Integrated Circuit chips are known to be the most profitable and efficient way to mine cryptocurrencies. The only difference that sets apart an ASIC chip from CPU and GPU chips lies in the fact that it’s not general-purpose chip like the others. The sole application of an ASIC chip is mining a cryptocurrency and it can be rendered obsolete easily by simply changing the mining algorithm of a digital currency.

Ethereum’s Stance for ASIC Miners:

For a long time, Ethash had remained ASIC-resistant to allow mining Ethereum and other cryptocurrencies by making use of the GPU chips which are generally found in gaming computers. This has contributed greatly to the last year’s profit in Gaming GPU manufacturers Nvidia and AMD.  But the release of Ethereum ASIC miner could adversely affect the mining-related demand for GPUs.

Up until now, the release of Antminer E3 has been intensifying the calls to execute an Ethereum fork which is similar to the path taken by Monero, which claimed to constantly alter their mining algorithm to keep it ASIC resistant. It should be noted that there are a couple of other companies which are presently developing Ethash ASIC (Application Specific Integrated Circuit) miners so there’s a possibility of seeing more announcements with various second-generation miners with similar features and a recap of what happened with recent Cryptonight ASICs.

Influence on Ethereum:

It is still unclear as to what steps Ethereum ecosystem is planning to take whether to block the use of upcoming ASIC through protocol changes or not. There are rumors of an improvement proposal in Ethereum being contemplated at present which could make the Ethereum ASIC miners completely incompatible with Ethereum’s Proof-of-Work Ethash mining algorithm. On 28th March, an Ethereum developer put forward a poll suggesting Ethereum hard fork, Ethereum Improvement Proposal on which most of the respondents have agreed for an Ethereum hard fork execution.

But it’s early to comment on whether Ethereum will choose to walk down the path of Monero or Siacoin which announced way back in January to invalidate A3 miners by means of soft-fork unless Bitmain’s actions result into direct harming their project.

We will be updating our subscribers as soon as we know more. For the latest on ETH, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Mirko Tobias Schafer via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

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