A chip designer with extensive experience in developing bitcoin mining devices is turning his sights on the ethereum protocol.
Chen Min, the former head chip maker of Canaan Creative, bitcoin chip developer, has launched a new enterprise to build mining of cryptocurrent devices called Linzhi. The company's first project addresses the ethhash algorithm used by ethereum and ethereum classic, with a new line of application-specific integrated circuit miners (ASICs) that will be released next year .
Dubbed Project Lavasnow, the new Linzhi etherum miner, claims to use 1/8 of the electricity amount of Bitmain's ethash miners, according to a presentation that Chen developed for the Ethereum Classic Summit held this week. It also expects to execute 1,400 million hashes per second, compared to 190 of one of Bitmain's AntMiners.
The increased hashpot means that one of the Linzhi miners should generate around $ 20 a day, compared to the $ 3 projected by a Bitmain miner. As a result, the company expects customers to balance the cost of a miner within four months of purchase.
Linzhi did not announce how much each miner would actually cost.
Currently, the company is still working on product development. Customers can start receiving their miners in April 2019, according to the presentation.
While many individual miners and members of the ethereum community are currently opposed to ASICs, Chen said in his presentation that hardware alone does not cause centralization. [19659002Rather"èlostiledelbusiness"hadetto
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