One of the largest manufacturers of mining equipment unveiled a new Bitmain ASIC miner Antminer X3 for cryptocurrencies on the basis of the PoW algorithm CryptoNight, such as Monero.
We are pleased to announce the all-new X3 Antminer to mine cryptocurrencies based on the CryptoNight hashing algorithm.
Two batches: shipping in June (https://t.co/VeidZrreK2) and shipping in May (https://t.co/RKtJe6Rm8D)
To prevent hoarding and to enable…. (1/2) pic.twitter.com/PBKdXrwg9b— BITMAIN (@BITMAINtech) March 15, 2018
Hash power ASIC chip will be 220 kH/s. Bitmain is planning to supply in two stages. The first batch will appear on the market in may, and the second a month later. The price of the miner from the first batch will be $11 999, but a month later the new Antminer X3 can be purchased for $7 599.
However, a leading developer of anonymous cryptocurrency Monero, under which new trapped miner, Ricardo’s Spanyi reported that the new equipment is likely to lead to centralization of computing power in the hands of one or a few players. In this regard, the Monero team is planning to modify the PoW algorithm in the course of the future updates of the network.
Just a reminder that this WILL NOT work on Monero https://t.co/rhy6k2I4Yh
— Riccardo Spagni (@fluffypony) March 15, 2018
“Just want to remind you, it’s [Antminer X3] won’t work in the Monero network”, — said Spani.
Spanyi stressed that the developers modify the consensus algorithm Proof-Of-Work every 6 months to avoid the centralization of control over hasraton.
It takes AT LEAST 5 months to design, tape out, and take delivery of ASICs. We can merge the PoW change 3 months before our regular hard fork and they won’t be able to outpace the network.
— Riccardo Spagni (@fluffypony) March 15, 2018
Spani added that the development, production and delivery to market of new miners is at least 5 months and to modify the PoW algorithm is only 3 months, so the Monero team is ahead of potential monopolists.
It is worth noting that even in the case that users will not be able to get Monero, X3 Antminer is also suitable for mining Bytecoin, Aeon, Dashcoin, and several other digital currencies.
We will remind, earlier Forklog reported that Bitmain is working on creating Antminer F3 — ASIC-miner for mining Ethereum, which will appear on the market approximately in II-III quarter of this year.
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