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'Application-Specific Integrated Circuit', ASIC is hardware specifically design to mine bitcoins or other cryptocurrencies.

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New Obelisk GRN1 Launches as a New Generation Grin ASIC Mining System via Cuckatoo31 Algorithms

Obelisk, a manufacturer of ASIC mining hardware, launched a next-generation mining system called The Obelisk GRN1. The intention is to target the Cickatoo31 Proof-of-Work (PoW) algorithm. The new chip includes new improvements to the hashing boards, control boards, mechanical design and also enhancements to the PSU. The information was released by the company on January 17 in a blog post. The team behind Grin decided to start developing ASICs for the Cuckatoo31+ algorithms on Grin. At the same time, it has provided code that defines a specification for the Cuckatoo31+ algorithms. According to the press release, hardware development faces serious challenges in terms of flexibility. Modifying a product can result in several months of delays. Now, the Grin team has given Obelisk all the required confidence to move forward with development and commit to a final design. The company has decided to create the most competitive miner possible with a large number of very large chips. In this way, they will be packing as much density as possible into the machines. According to the company the GRN1 is expected to have 10,000 mm2 of silicon, and because of this, its price will be higher. Obelisk explains that they will be making a two-phase sale of the new GRN1 miners. The first one will be related to a voucher sale in which the company will be selling $3,000 vouchers that can be convertible into 1 Cuckatoo31 mining unit. The sale starts today January 17th and it will last until February 1st. There are 10,000 vouchers available. There will be a second phase that is a full machine sell that will be going live in March. The price of the units will be $6,000 each. Voucher holders will have the possibility to exchange their vouchers for hardware devices without any additional cost. Obelisk informs that if there are clients that do not feel comfortable purchasing the Cuckatoo31 miner, the firm will be issuing a refund of $2,000. However, there are only two weeks for voucher holders to claim a refund. The firm has also explained what they will be doing with the funds received from selling mining equipment. Obelisk wrote about it: “During the first phase, we will be setting aside $100 per voucher sold to fund Grin development. During the second phase, we will be setting aside $500 per new unit sold for Grin development. The majority of the money collected for Grin development will be used to fund no-strings-attached stipends for independent developers. The remaining money will be set aside to fund high-priority endeavours such as security audits.” Obelisk said that they are not comfortable providing technical specifications. They explained that they have not finalized the chip or completed the final verification and layout stages of design. Nevertheless, they expect that the unit will be performing at least 100 graphs per second and consume no more than 800 watts. This can be compared with the NVIDIA RTX 2080 Ti. It performs less than 2 graphs per second and it also consumes 250 watts. The company is working in order to protect Grin against 51% and censorship attacks. This is very important for the community after all the attacks experienced by other projects in the market.
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Vertcoin will hardfork against ASIC threat

Due to the threat ASICs pose to the Vertcoin network, Vertcoin is forking to an adjusted version of its current algorithm. This fork will help protect the network while restoring profitability to miners. The direct cause for the fork is the availability of ASICs and the threats involved with mining outsourcabillity.What is the motivation for the fork?Vertcoin is based on the view that mining with commodity hardware is the best way to ensure a decentralized network. This in turn creates a network where both consensus and economic incentives are taking place at the level of the user. The ASICs that were created for the Vertcoins algorithm threatened this vision.As 2018 came to an end, ASICs were introduced on the Vertcoin network. This did not only make it less profitable to participate in consensus with commodity hardware, but also lowered the threshold for attack on the network. This resulted in several attacks on the Vertcoin blockchain. The attack in question was the infamous 51% attack.A 51% attack on the blockchain is an attack that can be organized by group of miners or even an individual on a dominant pool. A pool can attempt to control more that 50% of the network’s hashrate, which gives them the possibility of preventing new transactions from gaining confirmations, allowing them to halt payments between exchanges and users and they could potentially be able to reverse transactions. It’s also important to note that a 51% attack cannot remove you from ownership of a coin.Just before the ASICs become active on the network, Vertcoin developers were making a lot of progress working algorithm called Verthash. Before Verthash could be completed however, ASICs arrived and flooded hashrate renting markets with hashrate. This threatened the network integrity and in response, developers decided that it would be useful to tweak the existing algorithm to provide a short-term solution.How is the algorithm changing?Vertcoin uses a hashing algorithm known as Lyra2REv2 which was developed by Vertcoin developers in 2015 with the idea that certain parameters could be changed to render existing ASICs useless. This algorithm was also used by several cryptocurrencies (Mona, Verge) due to its GPU friendly/ASIC resistant properties.However, with the new ASICs Lyra2REv2 has effectively been taken over and Vertcoin’s fight against ASICs continues with Lyra2REv3.Lyra2REv3 is a modification to the Lyra2REv2 algorithm. It differs from v2 mainly in the methodology for random row selection and the algorithms and order of the algorithms it is made up of.see more — https://www.youtube.com/watch?v=FsdH_zbswvoWhen is the fork taking place?The hard fork is planned to take place at block 1080000. With the Vertcoin block time being 2.5 minutes, that places the fork date somewhere around the second of February (02–02–2019). A friendly community member has created a countdown the fork: https://wenvtcfork.xyz/.All users of the Vertcoin network need to update their wallets to the latest release which can be found here: (Vertcoin Core V0.14.0)How does Vertcoin plan to protect against future threats?Vertcoin is still working on a new algorithm that is able to withstand hashrate outsouring more efficiently. After the immediate ASIC threat has been alleviated, the developers can then resume their focus on building Verthash, an algorithm that’s both resistant to ASICs and hashrate outsourcing.Vertcoin will hardfork against ASIC threat was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Ethereum Mining Hardware Company Linzhi Shocked About Proposal to ban ASIC Miners

The proposed ban for ASIC miners on the Ethereum (ETH) network seems to be generating controversies in the market. The mining manufacturer Linzhi, which is based in Shenzhen, released a statement in which they reject the proposal to block specialized mining hardware for the ETH network. The new implementation aims at introducing ProgPoW. This would optimize mining activities and allow GPU hardware to perform better. In the statement released by Linzhi, the company said that it is “shocked” by the proposal made by ETH developers. On the matter, the company wrote: “We reject arbitrary enforcement of rules and request clear and equal guidelines to be established for all hardware makers. Today we are calling upon the ethereum developers to publish rules and requirements for what constitutes a good ProgPoW ASIC maker.” Wolfgang Spraul, the director of operations at Linzhi, commented that these rules could include more transparency or monthly audits to hardware companies. Back on Friday, ETH discussed the issue and shared their opinions about the ProgPoW proposal. Linzhi is currently working on a new chip for Ethereum’s mining algorithm that is expected to improve the performance of other ASIC designs for Ethereum. The company spent $4 million on its production. Spraul has also confirmed that they will be studying the feasibility and start to build ProgPoW ASIC miners for Ethereum. With a ProgPoW mining algorithm, GPU hardware would become competitive with ASIC hardware. Linzhi has been recently targeted by the Ethereum Classic (ETC) community as being behind the 51% attack on their network. Linzhi and Spraul denied all the allegations saying that they would never test ASIC miners on a mainnet. Ethereum is also trying to move from a Proof-of-Work (PoW) consensus algorithm to a Proo-of-Stake (PoS). On January 16, it is expected for Ethereum to perform a network upgrade called Constantinople that will reduce mining rewards from 2 ETH to 3ETH. This would allow miners to prepare themselves for a transition to a full PoS. Other opcodes will be included in the upcoming hard fork as well.
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$ETC Double Spend 51% Attack | $ETH ASIC Parity Rape Story | ETF

Signal Profits: https://www.crypto-love.com/signalprofits 3commas: https://www.crypto-love.com/3commas HoneyMiner: https://www.crypto-love.com/honeyminer Unicorn Shirts: https://www.crypto-love.com/shop Telegram: https://www.crypto-love.com/telegram Training: https://www.crypto-love.com/academy Coinbase: Ethereum Classic Double Spending Involved More Than $1.1 Million in Crypto.Ethereum Classic Devs: Hashpower Consolidation on Network Is 'Not 51% Attack'. ETH Dev Suggests Moving to ‘ASIC-Friendly Algorithm’ After ProgPoW Decision. Ethereum Foundation Announces $5 Million Grant to Parity Technologies. Gavin Wood cofounder of Ethereum says in his own blog that he's a pedophile and child rapist of a 10 yr old girl.. Winklevoss Twins Confirm Commitment to Bitcoin ETF During Reddit AMA. Overstock’s tZERO Receives Patent for ‘Crypto Integration Platform’. Epic Games’ Fortnite Store Starting to Accept Monero Was Accidental, CEO Confirms. 'Bitcoin Is My First Love': Coinbase CEO Champions Top Coin on Its 10th Birthday. Wall Street’s Bill Miller: 'Bitcoin Has Potential to Be Worth a Lot or Worth Zero'. #holochain #pundix #ethereumclassic Buy Bitcoin on Coinbase: https://www.crypto-love.com/coinbase Buy Cryptos on Kucoin: https://www.crypto-love.com/kucoin Buy Cryptos on Binance: https://www.crypto-love.com/binance To appease money-hungry lawyers and irresponsible people, it should be known that I AM NOT A FINANCIAL ADVISOR and THIS IS NOT INVESTMENT ADVICE. I am merely educating and entertaining. What you do with your own money is your own responsibility. Seek the counsel of an intelligent financial advisor (good luck finding one) before investing yours or anyone else’s money. The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. In limited circumstances the speaker has been compensated by a third party. Purchasing cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results. This is not an offer to sell securities. Never invest more than you can afford to lose. You should consult with your professional advisors before purchasing any cryptocurrencies.
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ASIC news by Finrazor

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This guide provides an information on the details of mining hardware, the criteria and important factors which have to be paid attention to when choosing the appropriate hardware as well as its types, such as GPU, FPGA, and ASIC explained in depth.

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Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX

After partnering up with the firm behind the second largest coin XRP [XRP] Ripple as one of the +200 costumers, Mercury FX announced via their official twitter handle that they transacted their largest payment across RippleNet with a positive conclusion. 1/1 We've made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds. pic.twitter.com/WsHJuZTiOy — Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019 Using XRP, the firm transferred £3,521.67 or $4,552.41 while they cited that UK based Mustard Foods was able to save £79.17 and 31 hours on the transaction. Mustard Foods could be one of the best examples of the impact of using RippleNet could have as it opened doors to cheaper expenses, quicker orders and faster payments. As covered by John P. Njui on EWN a few days ago, The Ripple company has announced via its website that 13 new financial institutions have joined RippleNet thus propelling the number of total global customers to over 200. RippleNet currently operates in 40 countries across 6 continents. Out of the 13 aforementioned financial institutions, 5 are confirmed as using XRP to source instant liquidity for their cross border payments. The are JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. By the end of this year [2018], major banks will use xRapid as a liquidity tool. By the end of next year [2019], I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity. – Brad Garlinghouse The success behind the team from Ripple could be standing by their marketing strategy and future plans of making the financial industry a better place to be. While not displacing traditional banking systems but helping them make payments cheaper and faster, it is finding its way to take spotlight in the crypto-verse. The post Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX appeared first on Ethereum World News.
Ethereum World News

BRD Wallet Expands Crypto User Access Across Europe With Coinify Partnership

Coinify, a European-based financial platform that provides a wallet, trading and payment processing solution, has announced that they are integrating BRD Wallet into their platform to deliver BRD wallet access to users across the European region.Specifically, the partnership provides access to virtual currencies, like bitcoin, to 34 countries across the Single Euro Payments Area (SEPA). The SEPA region is a collection of member states in Europe who are part of a payment system that simplifies bank transfers denominated in EUR. The launch is also enabled largely in part by Coinify’s newly rebranded trading solution for wallet partners.Customers will now be able to use BRD Wallet to “purchase bitcoin at cost-efficient rates with SEPA bank transfers” within Coinify’s trading platform. With BRD integration, customers will also retain control over their private keys while using Coinify.Essentially, this provides a large number of users with an efficient and secure way to buy bitcoin and other cryptocurrencies, and then allows them to immediately store it in a manner where they control what happens to their money. Typically, a user will entrust the custody of their private keys to a centralized exchange while they are waiting for trades to be executed and sometimes for much longer than that.Aaron Lasher, co-founder and chief strategy officer at BRD, highlighted the advantages of the integration for security-focused users of the Coinify platform.“We like exchanges and think security will get better in the future, but by using our integrated purchase and trading solutions, you get to keep your funds under your control 99 percent of the time, and only put them at a slightly higher risk for a short period when you make the exchange,” Lasher told Bitcoin Magazine.“Using a non-custodial wallet means that you and you alone control your funds. It’s similar to having physical cash in a (highly secure) safe at home. Only in this case, we provide our customers a digital safe (the BRD wallet) that they can keep in their pocket and carry along. Nobody else in the world has access to your funds but you, and nobody can stop you from sending or receiving funds.”Integrating a wallet that allows users to own their funds and seamlessly make trades on a platform like Coinify could help to push bitcoin adoption forward."The financial industry is ripe for disruption and we see bitcoin and the other virtual currencies as the future of payments,” said Rikke Stær, chief commercial officer at Coinify, told Bitcoin Magazine. “At Coinify, we have experienced first-hand the rising adoption of bitcoin and working with BRD as a user-friendly, decentralized wallet will only encourage the global reach of the currency."“Since launching as the first iOS bitcoin wallet in the App Store over 4 years ago, we’ve grown tremendously in North America,“ Adam Traidman, CEO and co-founder of BRD, said in a statement. “Europe will be strategic in the next phase of BRD’s global growth, and the partnership with Coinify will ensure our success in this crucial endeavour.”In August 2018, Canadian-based Coinberry exchange launched a similar BRD integration, allowing users to quickly and seamlessly buy, deposit and withdraw bitcoin on the Coinberry platform, while keeping control of their keys at all times. This article originally appeared on Bitcoin Magazine.
Bitcoin Magazine

Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018

Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 Major cryptocurrency payment service provider BitPay has reported $1 billion in transactions this past year, according to a press release Jan. 16. According to the report, the company also set a new record for itself in terms of transaction fee revenue. […] Cet article Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 est apparu en premier sur Bitcoin Central.
Bitcoin Central
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