In the latest crypto news, Bitmain is in the focus – this time for extending the features of its Bitcoin mining technology and unveiling the new and next-generation ASIC chip. As the company announced, the new chip will be first used in the new “Antminer” crypto mining machines.
Meanwhile, ASIC chips are a piece of tailored mining hardware that is geared to mine cryptocurrency based on a specific hashing algorithm. The CEO and co-founder of Bitmain, Jihan Wu has reportedly announced the new crypto-mining specific chip during his keynote lecture at the World Digital Mining Summit in Georgia.
Furthermore, Wu added that the new ASIC chip is said to use an SHA256 algorithm and as such is based on a highly advanced semiconductor manufacturing technology, 7nm Finfet. The chip reportedly integrates “more than a billion transactions” and uses a special circuit structure with a low power-intensive technology to optimize the efficiency.
The CEO of Bitmain also said that as the industry matures, “exponential growth” in blockchain will be required in order for the technology to keep pace. He also predicted that the bleeding-edge computing technology development will also need to be integrated with blockchain to address the challenges of the burgeoning industry.
This again confirms that Bitmain is on the path towards becoming the biggest company in the crypto business, which has been reported on our news site on several occasions.
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