GMO to use a new crypto mining software ‘Cryptknocker’
Cryptknocker applies to the soon to be miners to mine Zcash based on Equihash algorithm using graphic processing units (GPUs). These GPUs can also be found in personal computers.
The users will have to pay 2 percent of their profits from mining for the software’s development costs. But however, the download of the software will be free of cost.
“Cryptknocker takes advantage of the technical know-how of the certification authority business such as encryption technology including PKI (public key encryption infrastructure) and speeding up data processing when encrypting, which GMO Global Sign has cultivated. It is a developed mining software for virtual currency (Zcash) using Equihash algorithm,” said the company press release
The software is designed in such a way so that it suits miners using NVIDIA to mine ZCash since there is a 2 percent efficiency gain over other software.
The intention of starting to mine Zcash is that it is doing better in profits than Bitcoin.
According to a report by BC Focus this May, Samsung joined hands with GMO to announce the production of “risk production” of 7nm chips in 2018.
“GMO is striving to carve out a niche for itself in the Bitcoin mining space by ushering in superior mining chips. The group will have some competition thanks to Samsung’s entry. Samsung has announced the production of “risk production” of 7nm chips in 2018,” said the announcement back then.
So earlier, during the previous year, GMO announced that it would formally enter into the cryptocurrency mining business and then launched it in December 2017.
In another report from June, GMO designed and developed a new mobile app that enables users to earn Bitcoin by playing games.
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