New Powerful ASIC Miners Coming to Ethereum

hacked.com

A chip developer armed with a vast knowledge in designing Bitcoin mining machines has now turned her attention to the Ethereum protocol.

Former head Bitcoin mining chip creator at Canaan Creative Chen Min introduces a new project aimed at creating crypto mining machines known as the Linzhi. Its first venture involves the Ethhash algorithm in Ethereum and Ethereum Classic, alongside a new suite of application-specific integrated circuits (ASIC) miners set for release in 2019.

Based on a presentation Chen has created specifically for the Ethereum Classic Summit last week, Linzhi’s Project Lavasnow purportedly uses 1/8 the amount of electricity as Bitmain’s Ethash miners. It is also designed to generate 1,400 million hashes per second, compared to 190 from one of Bitmain’s Antminers.

This means that a Linzhi miner is expected to generate an estimated $20 per day, compared to Bitmain miner’s $3. Because of this, the company hopes that customers will be able to “break even” on the cost of a miner four months after its purchase.

Linzhi, however, fails to disclose how much each unit will cost.

The firm is still currently developing the product. According to last week’s presentation, clients may expect to have their miners by April next year.

Even though several members of the Ethereum community together with individual miners are not keen on ASICs, Chen claims in her presentation that hardware alone is not the cause of centralization.

Instead, she declares “it is the style of the business.”