Mining

Bitmain to Release Zcash ASIC Miner

Important news for Zcash investors and users was revealed on Wednesday morning on Twitter.  Bitmain announced an Application Specific Integrated Circuit (ASIC) miner capable of mining Zcash.

Zcash is based on Equihash, which is the Proof-of-Work (PoW) mining algorithm. Thus the new development of Bitmain will help mine ZCash.

Bitmain revealed the latest news on the ASIC miner for Zcash on Wednesday morning, the 2nd of May. It will be called the Ant-Miner Z9 Mini and will have a hash rate of 10k Sol/s. It will be available from late June. It will cost $1,999 and will consume only 300W power.

Bitmain tweeted-

Bitmain tends to use their developments much before launch, so it won’t be surprising if they have already started using the new ASICs.

However, there are plenty of negative feedback on Bitmain’s dominance in the cryptocurrency mining field which ends up centralizing hashpower.

What needs to be noted is Zcash has adopted Equihash so that GPU chips that gamers use can power the mining. However, Bitmain has seen to tackle this too, introducing the Ant-Miner Z 9 Mini.

Bitmain is dominating ASIC resistant mining algorithms with introductions of developments for Ethash, Cryptonight, and Blake (2b).

Monero has battled Bitmain’s Cryptonight ASIC so that it won’t be compatible with the network, and Ethereum which is secured by Ethash has also started debating to implement similar measures.

Even Bitcoin Gold has stated it will activate a hard fork to maintain ASIC resistance to Bitmain.

Zcash owner, Zooko Wilcox understands that technology is bound to keep developing and he needs to follow the latest in the cryptocurrency field for Zcash to stay on top.

“Oh, bottom-line, by the way, is that I’m still in the same place now that I was four years ago when we first decided to go for widespread-distribution-of-coins at the expense of sunk-cost-incentive-alignment. I still think that widespread-distribution-of-coins is more important (but I still think that it can’t last forever and that the other side of the trade-off may also prove to be important),” Wilcox posted in a forum.

Image Source: “Flickr”

Amrit Mirchandani,  A hustler, who believes there is a solution to every problem. A strong believer of Blockchain and a Cryptocurrency enthusiast!
Currently living in the Digital Hub of India, Pune and an extremely friendly and optimistic person. Born and raised in the beautiful island of Sri Lanka and have run businesses ranging from Agriculture to the Digital World. I have had crazy Experiences in Asian Busy towns like Mumbai and Kuala Lumpur to African nations such as Madagascar.

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