For Siacoin, a distributed storage protocol, new code will be released that makes Bitmain's mining hardware obsolete.
Obelisk, a venture that wants to provide alternative mining equipment for the protocol, has proposed code that gives the option to exclude Bitmain's ASIC by changing its rules so that it is exposed to e-mail from CoinDesk and is no longer available.
"This will give the sia community the ability to invalidate the Siacoin ASIC miner, not all Obelisk at the fork.
This news is noteworthy because CoinDesk announced last week how the cryptocurrency community is responding to business gains from Bitmain, China's largest mining company.
As detailed in the investor documentation, Bitmain emphasizes the scalability of its expertise in other protocols, including Symantec (siacoin) in hardware design for bit coin. Founded as a hardware producer for Bit Coin exclusively, Bitmain currently supports substitute cryptocurrencies bit coins for cash, litecoin, dash and ether.
Still, $ 170 million worth of cyanogen is the smallest product in the company's portfolio, but it turns out to be the most problematic because users are not keen on the idea that they need to buy Bitmain's products. A similarly powerful equivalent to protect the protocol and compete for compensation.
There is also the credentials of supporters of the opposition movement who share this sentiment.
Obelisk, led by siacoin core developer David Vorick, is a community-funded ASIC manufacturer that hit the market by Bitmain, a crashing event in the Siacoin community. In fact, Obelisk's code was designed with the ability to remove competitive ASICs from the network, but was not activated due to concerns that block chaining could occur.
Nevertheless, according to Boris, it seems that grassroots emotions are changing as corporate interest grows.
"At the moment, Nebulous (the company that hires core developers at sia) and Obelisk employees both support Fork," E-mail concluded.
According to the message, this message will be available in the "coming weeks" period. In addition, the mine hardware is "almost complete" and the company expects to start shipping this week. "
If siacoin succeeds, it will not be alone in an effort to reduce Bitmain's expansion. One of the world's largest cryptocurrencies, privacy-oriented monero, earlier this year implemented code to remove Bitmain ASICs.
Obelisk intends to become a developer-friendly alternative to Bitmain, which allows developers to enhance the security of block chains without worrying about the motivation of hardware manufacturers.
As discussed in more detail by CoinDesk, obelisk plans to provide ASICs to a larger number of Crypto Calls to make them private and later available to members of these decryption communities.
Please read the full email below.
PlanDear Obelisk Customers,
Production is in progress, the firmware is almost complete, and we expect to start shipping units this week. We are now approved by our team, board of directors, and attorneys to share our plans.
First, we compensate Batch 1 customers for expected mine profits. Since you missed the expected shipping date for Batch 1, you will reimburse all Batch 1 customers for mining revenues received from June 30 until the date your order is shipped. As of today, this value is approximately $ 90 per SC1 device and $ 250 per DCR1 device. This policy applies if you missed the expected shipping date for Batch 2-5.
Placement 5 We will send a reward to the customer sometime after shipment. Obelisk calculates the expected mining revenue based on a hash rate of 800 GH / s for SC1 and 1500 GH / s for DCR1. The rewards are in US dollars, and the coins exchanged minus USD each day are assumed to be $ 0.
In the coming weeks, we'll be able to write a more complete guide on how to get this compensation and post it to the community for review. Depending on the financial status of the Obelisk, it may take several months or more to compensate all customers after delivering Deployment 5.
Second, in the next few weeks, the SC1 alternative Blake2b algorithm will be released. This gives the Sia community the ability to fork and void all Siacoin ASIC miners, not the Obelisk in the fork chain.
Sia core developers are currently considering FaustianAGI's proposal and will soon release an official response. Both Nebulous (a company that employs Sia's core developers) and Obelisk employees support Fork. We still have a lot of details, but we promise to provide additional information in the coming weeks. We are constantly working to deliver your order and will keep you informed of our progress.
– Team Obelisk
David Vorick image via CoinDesk archive
CoinDesk, a leader in block-chain news, is a media outlet that pursues the highest standards of journalism and adheres to strict editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and block-chain startups.
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It is assumed that a hacker group is collecting passwords by hacking computers owned by China's computer maintenance companies and Internet cafes.
The crypto markets are sporting a green look this Thursday morning, all with the exception of Bitcoin (BTC). Coins currently in the green zone include Siacoin (SC) and Ethereum (ETH).
It’s interesting that the market deleted the gains Bitcoin (BTC) recorded yesterday, but that’s not what we’re going to focus on today. In this article, we’re going to focus on Siacoin (SC) and Ethereum (ETH).
This is a coin making some major waves on the crypto markets today. Siacoin (SC) is currently selling for $0.025421, which puts the coin up 29.79% in …
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