Linzhi to develop new range of ASIC miners for Ethereum protocol
Linzhi, a newly instituted company for building cryptocurrency mining devices, has set its eyes on Ethereum protocol. The company is headed by Chen Min who designed the world’s first Bitcoin mining ASIC, Avalon A3256 in 2012. Linzhi will begin its activities as a company by exploring ethhash algorithm used by ethereum and ethereum classic. They will also develop a new range of application-specific integrated circuit miners (ASICs) as a part of their first project Lavasnow that will be released next year, according to a Coindesk report.
Linzhi Vs Bitmain
In April Bitmain announced the release of an Ethereum miner, Antminer E3 which had a hashrate of 180 Megahash on the ETHhash algorithm. Linzhi boasts 1400 million hashes per second can be executed with its new ASIC. It also claims to use only 1/8th of the electricity consumed by Antminer E3, Chen Min revealed in a presentation held at Ethereum Classic Summit this week. The increased hashrate signifies that the Linzhi miners will generate around $20 per day as opposed to Antminer’s $3 a day.
The company expects customers to retain the price of a miner in four months after the purchase. However, the company hasn’t revealed the actual cost of a miner. Chen Min said in her presentation the miner is still a work in progress and that customers can expect new miners by April 2019.
A Threat to Decentralization
ASICs are regarded as a threat to decentralization. Vitalik has already said that they plan to fork away from the arrival of ASICs to maintain security and decentralization of the network. ASICs are not well received by the global cryptocurrency community and Ethereum community share the same fears as well. However, Chen Min claims that the hardware alone cannot breed centralization.
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