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Bitmain Has Deployed 90,000 ASICs Antminer S9 For The Upcoming Bitcoin Cash Hard Fork

The mining giant Bitmain plans to use 90,000 Antminer S9 hardwares in the Xinjiang Uygur Autonomous Region for the upcoming Bitcoin Cash hard fork. A local mining pool operator Yu Hao told ... Запись Bitmain Has Deployed 90,000 ASICs Antminer S9 For The Upcoming Bitcoin Cash Hard Fork впервые появилась Bit.news.
bit.news

Bitmain Rushes to Deploy 90,000 Antminer S9 Miners in Xinjiang as Bitcoin Cash Hard Fork Looms

With the Bitcoin Cash(BCH)hard fork 7 days way, the two opposing camps—Bitcoin ABC and nChain—are moving forward with their plans. Bitmain, the world’s biggest maker of cryptocurrency hardware and the loyal proponent of Bitcoin ABC, is expediting the deployment of roughly 90,000 Antminer S9 miners in China’s far-western region of Xinjiang, to gain upper hand in the upcoming ‘computing power war’, local news outlet DeepChain reported on Wednesday. Yu Hao, a mining farm operator in Xinjiang, told DeepChain that Bitmain’s Antpool has talked to nearly all mining farms in the region since late October, and convinced them to host nearly 90,000 S9 miners. “ AntPool requested that a single mining farm should host over 5,000 machines,” said Yu. But in fact, only a few mining farms can satisfy their demand. In autumn, coal-abundant regions such as Xinjiang and Inner Mongolia have been home to  crypto mining rigs because hydropower stations in southwest China are unable to supply enough energy for large mining pools. As a major holder of BCH, Bitmain’s initiative is seen as a preparation for the looming BCH hard fork. “Half of its marketing staff have gone to Xinjiang to talk with local mining operators about deploying equipment,” source familiar with the matter said. But the Beijing-based mining  conglomerate refused to comment on this issue.   BCH Hard Fork Looms Different from BCH’s regular network maintenance hard forks twice a year, the upcoming hard fork which is scheduled for November 15 is much more contentious. Bitcoin ABC, an influential BCH client, seeks to remove topological transaction order constraint and to enforce the canonical order of transactions which is expected to significantly improve the scalability performance of the BCH blockchain. Craig S. Wright, the self-proclaimed Satoshi Nakamoto (creator of Bitcoin)and his nChain, on the other side of the debate, have spoken out vehemently against Bitcoin ABC’s proposed upgrade. Denying the partnership, Wright released the altered version of BCH protocols known as Bitcoin-SV (BSV) which highlights a 128MB block size for the network. Given that Wright’s version will not be compatible with the previous proposal, the Nov 15 upgrade is likely to result in the split of Bitcoin Cash into two separate chains and cryptocurrencies. As for now, Bitcoin ABC has garnered support from many large mining poolssuch as BTC.com,AntPool,Btc.top,ViaBTC,Bitcoin.com, accounting for nearly 40% of the total BCH hash power, while BSV is backed up by CoinGeek (the largest BCH mining pool), BMG and SBI. As two leading crypto exchanges—Binance and Coinbase— support the hard fork, crypto speculators rush to buy BCH these days in a bid to receive the free BSV assets at a 1:1 ration after the hard fork. The buying spree added a whopping 40% to BCH’s price, surging to $635 on November 7, up from lows of $424 last week. BCH is traded at $594 at the press time, according to coinmarket cap. Some miners in China said they would start mining BSV on November 10 because the warm-up can reduce the difficulty of mining.
8BTC

Bitmain Actives Controversial ‘AsicBoost’ in Antminer S9, Boost 20% Bitcoin Mining Efficiency

Bitmain, the world’s largest bitcoin mining manufacture has released a firmware for its popular Antminer S9 to enable the “overt AsicBoost” functionality. The controversial code will be able to boost 20 percent hike in efficiency of bitcoin mining. In a recent blog post on Monday, Bitmain explains the new-released firmware will support the overt AsicBoost functionality and brings significant speed boost and cost saving to the bitcoin miners. Notably, although Bitmian is only enabling these mining devices to use AsicBoost at present, the chips were already capable of supporting the function on a hardware level. AsicBoost is a technology implemented in ASIC chips used for crypto mining that originally  patented by CoinTerra CTO Timo Hanke and RSK Chief Scientist Sergio Demián Lerner. It can reduce the amount of work that SHA256 miners must perform to produce a hash, so essentially, it may save some energy in finding a valid block. However, AsicBoost can be implemented either covertly or overtly, and that’s why controversial is so controversial. The covert AsicBoost promotes miners to produce small or empty blocks and makes it difficult to identify miners’ identities. Some Critics accused Bitmain of applying covert AsicBoost prior to the SegWit fork of bitcoin, but Bitmain denied the allegation. According to the blog post, Bitmain has previous released support for AsicBoost Boost in March 2018. In order to give their mining pools users the option to mine using AsicBoost, the firm adds support for it on both BTC.COM and Antpool. Bitmain emphasized that there isn’t and may never be a patent right over AsicBoost, thus miners can choose whether or not to use AsicBoost technology. This time, Bitmain is giving miners a chance to take this advantage without any negative impact on the bitcoin protocol. According to Bitmain, This variant of the “overt AsicBoost” simply uses version bits different from those that other manufacturers have been using. It is equally transparent because it can be seen in the blockheader of boosted blocks. Bitmain also added they are intend to release firmware supporting the same functionality for its Antminer R4, S9i, S9j, T9 and T9+ miners next week.
8BTC

Bitmain Releases Overt AsicBoost Firmware for Antminer S9

Bitmain has finally released its firmware for the popular Antminer S9 to enable what is called “overt AsicBoost.”In a recent blog post, Bitmain explains their rationale for the firmware release, citing that they originally “decided against activating this mathematical function in mining hardware” due to the “uncertainty surrounding the use of AsicBoost.” Bitmain previously released support for AsicBoost back in March 2018 by adding support for it on their mining pools BTC.com and Antpool. This, however, came after the company noticed blocks being mined on the blockchain using AsicBoost. Bitmain had not released firmware support for its own miners until yesterday’s blog post. Now, Bitmain has enabled AsicBoost on its own hardware, calling it “overt” because of the obvious use of AsicBoost when it is being used by miners (by looking at the blockheader in a block, it is easy to tell if the block was boosted). In one week, Bitmain will also release firmware to enable AsicBoost in its other hardware devices, namely the Antminer R4, S9i, S9j, T9 and T9+. What Is Overt AsicBoost?AsicBoost is a technology implemented in ASIC chips used for mining cryptocurrencies like Bitcoin. When applied to these chips, AsicBoost allows miners to take a “shortcut” to finding a valid block, essentially saving some energy. The technology was originally patented and held by CoinTerra CTO Timo Hanke and RSK Chief Scientist Sergio Demián Lerner. Following the Blockchain Defensive Patent License (BDPL), an agreement to make certain blockchain technologies are shareable with other companies that take part in the agreement, AsicBoost was put in a defensive patent license as part of the process to get rid of all mining patents.Bitmain, however, is not part of the BDPL agreement. “With regard to patent rights, we continue to respect third parties’ IP right and take actions accordingly. Based on legal opinions from various jurisdictions, we believe that there isn’t and may never be a patent right over AsicBoost. Thus, all miners should be entitled to make their own choice on whether to use AsicBoost technology without anybody having an exclusive right over it.” This news comes after there has long been speculation that Bitmain has been using AsicBoost within its own walls, in the form of what’s called covert AsicBoost. The accusations stated that Bitmain covertly, or privately, used the technology to give themselves an advantage over mining hardware that did not utilize AsicBoost. Furthermore, speculations have long circulated claiming that Bitmain’s opposition to the SegWit soft fork upgrade and later support for Bitcoin Cash back in August 2017 was due to a greater incentive: SegWit made it more difficult for covert AsicBoost to be used in the Bitcoin blockchain. This article originally appeared on Bitcoin Magazine.
Bitcoin Magazine

New Bitmain Firmware Launches for “Overt AsicBoost” On Antminer S9 Crypto Mining Devices

New Firmware Launched by Bitmain for “Overt AsicBoost” On Mining Devices China-based Bitmain Technologies Ltd. is the largest designer for ASIC chips in the cryptocurrency industry, primarily focusing on support for Bitcoin mining. In an effort to improve their current model, the AntMiner S9, the company has created new firmware, which was announced on Twitter and on their blog. On Twitter, the post reads: We’ve released new firmware to activate “Overt #AsicBoost” on the #Antminer S9. Firmware for other BM1387-based models coming soon. Learn more about this decision here: https://t.co/hfEfFslyxp Download link: https://t.co/KpkClmWPZk — BITMAIN [Not giving away ETH] (@BITMAINtech) October 22, 2018 The “overt AsicBoost” function is only presently active for the AntMiner S9, but the blog reveals that they “will also release in one week the firmware to activate this functionality in other BM1387-based models.” The other applicable models will include the AntMiner R4, S9i, S9j, T9 and T9+. With the new firmware, the mining chips will have a stronger long-term network, though the coding used is fairly controversial. Originally, the company had not planned to activate the firmware within their own mining hardware, based on “the legal uncertainty surrounding the use of AsicBoost.” The company explained: “As an organization, we didn’t want to violate patent laws or act in any way that was untoward. Instead, we continued to focus our efforts on R&D and building the industry’s most efficient mining chips. It’s worth noting, as outlined in an April 2017 blog post, our ASIC chip BM1387 has the capability built into the chip technology.” However, now, the company is offering the firmware as a “boost” for miners that “have the capability to support this function a choice to avail this advantage without any negative impact on the Bitcoin protocol.” The version available from Bitmain is more of a combination of the firmware that other manufacturers of mining chips and devices have been using. As far as patent rights, Bitmain believes there isn’t any current issue with AsicBoost from a legal aspect. In fact, they note in the blog: “Based on legal opinions from various jurisdictions, we believe that there isn’t and may never be a patent right over AsicBoost. Thus, all miners should be entitled to make their own choice on whether to use AsicBoost technology without anybody having an exclusive right over it.” Bitmain has certain priorities for what they aim to offer miners. They strive to offer the “best mining technology in the industry,” which is exactly what’s made them rise to the top. The blog notes that there are “two main objectives” that the activation of the firmware allows them to do. Those objectives are “future objectiveness” and “stronger network.” Daniel Johnson, the director of Blockchain Technologies for Advania Data Centers, replied to the announcement on Twitter. He commented: I haven't tested this yet but we'll probably see a bump in #BTC difficulty as a result. Very interesting that this is happening just after @braiins_systems announced they would enable #AsicBoost in their firmware soon. #Mining https://t.co/lvrLOMoRfr — Daniel Jonsson (@dfjonsson) October 22, 2018 Right now, the new firmware is available to be downloaded here.
Bitcoin Exchange Guide

Bitmain Releases Overt ASICBoost Firmware for Antminer S9

Miner manufacturer Bitmain has published firmware to activate Overt ASICBoost, an algorithmic optimization aimed at cutting costs, increasing efficiency, and boosting the Bitcoin network’s overall hashrate, on their popular Antminer S9 miners.  Also see: Examining Avalanche Consensus Chatter Around Bitcoin Cash, Tezos Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts ‘Making the Bitcoin Network Stronger Than Ever Before,’ Says Bitmain On October 21st, Bitmain released firmware to activate Overt ASICBoost in the Antminer S9. The firm announced the development publicly the following morning on their website. We’ve released new firmware to activate “Overt #AsicBoost” on the #Antminer S9. Firmware for other BM1387-based models coming soon. Learn more about this decision here: https://t.co/hfEfFslyxp Download link: https://t.co/KpkClmWPZk — BITMAIN [Not giving away ETH] (@BITMAINtech) October 22, 2018 Headquartered in Beijing, Bitmain is presently the world’s leading manufacturer of cryptocurrency miners, particularly miners underpinned by ASIC chips. ASICs, or application specific integrated circuits, are specialized chips that, in the context of Bitcoin, are deployed to compute the hashes of new blocks. Overt ASICBoost is an algorithmic optimization that increases computational efficiency further. The functionality, which was in-built in all of Bitmain’s rigs that rely on their BM1387 ASIC chip, has now been unlocked in the Antminer S9. Bitmain said they’d be releasing similar firmware for the S9i, S9j, R4, T9, and T9+ Antminers in “one week.” More efficiency means better odds of winning a block. The firm had waited until now to release the firmware over the previously ambiguous intellectual property situation surrounding Overt ASICBoost. “Based on legal opinions from various jurisdictions, we believe that there isn’t and may never be a patent right over AsicBoost,” Bitmain wrote today, October 22nd. “Thus, all miners should be entitled to make their own choice on whether to use AsicBoost technology without anybody having an exclusive right over it.” Eyes on the Horizon At the World Digital Mining Summit in September 2018, Bitmain co-founder and chief operating officer Jihan Wu surprised the audience by announcing the BM1391, the company’s next-gen ASIC chip. In lab testing, the firm’s engineers found that the BM1391’s power efficiency could go down as far as 42 J/TH. Also in September came Bitmain’s formal application for an initial public offering on the Hong Kong Stock Exchange. In the filing, the manufacturing power reported revenues of $2.85 billion USD through the first half of 2018. Bitmain will look to keep up the pace of its profitability and developments in the months and years ahead, even as others in the space are working to box them out. What’s your take? Do you think Overt ASICBoost should or shouldn’t be used? Let us know in the comments section below. Images via Pixabay, TheBitcoinMiner’s YouTube The post Bitmain Releases Overt ASICBoost Firmware for Antminer S9 appeared first on Bitsonline.
Bitsonline

Bitmain is Suffering from the 27.6% US Tariffs on Their Antminer S9

As the 2018 China-United States trade war has entered a red-hot stage, the Chinese cryptocurrency mining giant Bitmain is facing new tariffs of its overseas markets since August 23. According to the South China Morning Post, Bitmain would become the most exposed among Chinese mining hardware manufacturer to US barriers. Other mining giants that have their overseas business heading to the US, for example, Cannaan and Ebang International have been influenced by the new US tariffs as well. Their IPO plans also encounter obstacles due to this issue. Bitmain’s Antminer S9 were previously classified as “data processing machine” with zero tariffs. However, the office of the United States Trade Representative has categorised Antminer S9 as the “electrical machinery apparatus” which is subject to 2.6% tariff in this June. At present, Chinese mining hardware makers are facing the 27.6 per cent tariffs of their US exports as Chinese goods are all subject to the additional 25% tariffs which took effect in August. It would be a hard time for Bitmain as over 50% of its revenue is from overseas market according to Bitmain’s public financial statement. Meanwhile, Canaan and Ebang International reported their overseas sales contributed to 8.5% and 3.8% of their total revenue in 2017 respectively. It was also reported that, Bitmain’s Antminer S9 accounted for over half of the company’s $2.5 billion revenue in 2017. The US tariffs would make the Chinese mining equipments less competitive in the global mining hardware market. In the IPO financial statement, Bitmain has indicated that their financial situation could be impacted by economic and political conditions. This time, the significant change in the US tariffs could be seen as one of those issues. In addition, Bitmain is also under high pressures of producing more advanced chips to keep its dominance in the mining world while its rivals are rolling out miners that are faster and more efficient than its Antminer S9.
8BTC

Bitmain Crypto Miner “Antminer S9 Hydro” Launches with a Water Cooling System

Bitmain's New Antminer S9 Hydro Launched Bitmain launched the Antminer S9 Hydro earlier this month as a flagship product on its new water cooling mining machines. The Antminer S9 Hydro comes with the SHA -256 algorithm allowing users to mine compatible coins such as Bitcoin (BTC) and Bitcoin Cash (BCH). The device aims at providing an efficient, reliable and secure mining device with low noise levels, heat dissipation and low energy consumption. The sale of the Antminer S9 Hydro starts today. The Antminer S9 Hydro is the eighth product released by Bitmain this year but already promises to be the best with its water cooling systems providing more efficiency than the air cooling systems in other miners. Other mining devices released this year include ANTBOX, Antminer S9i and the Z9mini. Specifications of the Antminer S9 Hydro The Antminer S9 Hydro differs from the conventional air cooling miners as it integrates a water cooled system to reduce the heat emitted during mining while mining with a specific, APW5 power source. The device has a hash rate of 18 T with a total power consumption of 1728W per hour. Antminer S9 Hydro allows an external water circulation system for heat dissipation. In case you are a large firm, the device offers low noise levels during mining and high energy saving while using an outdoor water circulation system. The specifications of the Antminer S9 Hydro offers three main advantages to the users; efficient heat dissipation through the water cooler, noise reduction and high energy saving. Unique nature of the Antminer S9 Hydro miner Heat dissipation Antminer S9 Hydro is a water cooling mining device built to the most efficient and innovative standards available for heat dissipation. The device supports an internal and external water cooling system with an option to connect to an outdoor water source to quickly cool down the internal system and computing boards during mining. The improved and highly customized water cooling system reduces the chip temperature difference by only 5°C which improves the efficiency of mining and overall performance of the miner during operation. Low levels of noise during mining Apart from the main feature of the miner, noise reduction is a competitive advantage to the Antminer S9 Hydro with maintenance costs related to noise a thing of the past. The water cooling system doesn’t only provide lower temperatures for the system but also doubles up on reducing the noise produced during mining. Working at optimum levels, the Antminer S9 Hydro is capable of reducing up to 20 decibels compared to previous versions. High energy saving Unlike the previous use of fans to reduce the heat on air cooled miners, the S9 Hydro will directly cool the system through water entering the miner from the external water source. The device is expected to save around 8%-12% of the electricity used during mining. The cooling system also provides excellent dustproofing and easy maintenance ensuring the long term operational stability of the miner. Finally, over 95% of the power consumption can be moved external via the water circulation system which ensures the system is kept safe from the dust deposits inside the machine hence decreasing the risk of short circuit or corrosion of internal components. This improves the service offered by air cooled miners that require air volume passed through the system. Antminer continues to be a valuable brand to Bitmain and this latest addition of the Antminer S9 Hydro, further confirms the statement.
Bitcoin Exchange Guide

Antminer S9 Hydro: New Bitmain water cooled cryptocurrency miner goes on sale

Bitmain, a well-known cryptocurrency equipment provider, officially announced the release of its flagship product Antminer S9 Hydro. It is the eighth product launched this year, after the introduction of Antminer S9i, ANTBOX, and Z9mini,... Antminer S9 Hydro: New Bitmain water cooled cryptocurrency miner goes on sale
CryptoNinjas
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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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