1. QiAi QuestsHome
  2. AI & Tech Insights

What Coins can ASIC Mine? (Why is ASIC Mining Power so High?)

• AI & Tech Insights • 115 views

What coins can ASIC mine? The AsicFoundation, a blockchain alliance composed of

What Coins can ASIC Mine? (Why is ASIC Mining Power so High?)

What coins can ASIC mine? The AsicFoundation, a blockchain alliance composed of Asians, officially went online on May 15, 2020. The Asig Foundation will invest in a project to support its development, with an initial capital of 100 million RMB. Specifically, this financing will be used to purchase ASIC devices and build applications based on the programming language Solidity, including a decentralized development toolkit, allowing developers to run their own applications and products through smart contracts. (Sina Finance)

Why is ASIC Mining Power so High?

Editor’s note: This article is from the BlockBeats Blockchain Dynamics (ID: BlockBeats), authorized for reprint by Odaily Planet Daily.

Why is ASIC mining power so high? This machine uses dedicated ASIC chips to carry out cryptocurrency transactions when mining Bitcoin. Such devices can support various forms of digital assets, cryptography, and other applications and data types. So what factors make this new type of machine so efficient in mining?

1. Simple design philosophy

If you use a computer or software to place all the virtual storage space on your computer on a server, you need to put your hard drive or graphics card into the server to access the corresponding information. This allows us to understand the amount of data on this computer.

2. Adoption of special algorithms ensures that the calculated results are true and tamper-proof, and there is no need to verify all records like other hardware, thus ensuring that these records cannot be deleted and permanently saved.

3. High level of security

However, some well-known companies are currently developing mining equipment using ASIC chips. It is said that this company has obtained a trademark registered by the United States Patent and Trademark Office and has received investment from Bitmain. Therefore, the company has chosen the “King of the Seas” S19Pro and M20S15 series products supported by Ant Group’s Ant Blockchain Technology as production units. However, some experts believe that although these two models have certain advantages, they are all new concepts invented to improve network performance, such as Bitmain’s S9.

2. “Open-source smart contracts + artificial intelligence” = lower energy consumption? Is this why?

According to bitinfochart data, as of December 28, 2018, the global circulation of Bitcoin was 16,470 BTC, Ethereum’s on-chain circulation reached 4,160 BTC, EOS’s off-chain circulation was only 5 coins, Litecoin’s on-chain circulation was 10,000 coins, and XMR’s on-chain circulation was only about 8 coins. (Note: The above data does not represent the project mentioned in this report)

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/ai/22874.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/09/2023 17:27
Next 08/09/2023 17:49

Related recommendations