Halong Mining, competition for Bitmain?

ASIC manufacturer Bitmain has been the dominant manufacturer in the field of mining hardware for years, known for its Antminers. However, this seems to be changing with the emergence of a new mining hardware manufacturer. A healthy development, because a decentralized payment system works best when it is as decentralized as possible in all areas.

The decentralization of mining is important

The mining equipment market has long been dominated by Bitmain, where the integrity of the ASIC manufacturer has been questioned in the past. Many see Bitmain’s dominance as a risk to Bitcoin’s security. The control over (the origin of) the computing power that secures the Bitcoin network would be too centralized, something that could have negative consequences for the Bitcoin network.

ASIC stands for Application-Specific Integrated Circuit , in other words, chips designed for a special purpose. In this case, chips that are specially designed for mining Bitcoin.

A new player

Halong Mining recently announced that it will offer the world’s most efficient Bitcoin miner: the DragonMint 16T. An announcement that received support from Adam Back, CEO of Blockstream. Halong Mining was co-founded by Bitcoin Core developer BtcDrak. If Halong Mining manages to successfully mass-produce the DragonMint 16T and make it available to a large audience, it would benefit decentralization and competition within the mining market. The DragonMint 16T should be available for the first time soon.

According to Halong Mining, the DragonMint 16T is capable of operating at 16 terahash per second (TH/s), several TH/s faster than Bitmain’s most powerful miner, the AntMiner S9, is capable of. The 16T would also run 30% more energy efficient. A terahash refers to the number of hashes the miner can execute per second. One terahash is equivalent to 1 000 000 000 000 (one trillion) hashes per second. For comparison, here is the calculation of a single hash when done by hand.

Demo of the 16T in action

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

© 2024 Cryptocoin Budisma.net