Bitcoin Core developer will make AntMiner’s killer

Active Bitcoin developer BtcDrak became a co-founder of Halong Mining
23 November 2017   2761

Now Halong Mining company is testing a pilot version of a mining machine called DragonMint 16T.  BtcDrak considers that the machine can produce a total of 16 th/s and its energy efficiency is 30 percent higher than that of today's industry leader Bitmain’s AntMiner S9. The first serial release of the DragonMint 16T is scheduled for March 2018. In the development of the device has already invested about $ 30 million.

Bitmain's mining machines that have dominated the market in recent years. Over 70% of the network capacity is now produced by Bitmain machines, and about half are pools that are either directly owned or closely related to Bitmain - for example, AntPool, BTC.com, ConnectBTC and ViaBTC. BtcDrak considers that it is a problem of centralization. He hopes that DragonMint 16T will offer an alternative to Bitmain's mining machines.

One manufacturer as a monopoly is not good for Bitcoin. Centralization in mining is a problem regardless of how benevolent you are. If there is a center, then governments and criminals can attack it. Decentralization protects the entire system and all its participants. So I wanted to bring competition.

 

BtcDrak

Bitcoin Core developer.

Already Halong Mining done building on the research over the past year. And now the company is considering open sourcing its board designs and software.

Iran to Issue Over 1000 Mining Licenses

Amir Hossein Saeedi Naeini from Iranian ICT Guild Organization said that crypto mining industry attracts many in Iran
27 January 2020   171

Over the past six months, the Iranian Ministry of Industry has issued more than 1000 cryptocurrency mining licenses. This was announced by Amir Hossein Saeedi Naeini, representative of the ICT Guild Organization.

According to him, cryptocurrency mining is a new industry that attracts many in Iran. He noted that miners must obtain a license to work.

The Ministry of Industry, Mine and Trade has issued more than 1,000 licenses for cryptocurrency mining in the country. Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He believes that the cryptocurrency industry can help Iran's economy. However, he explained that the high cost of electricity is a serious problem for cryptocurrency miners.

High electricity tariffs plus stringent regulations have made the sector less appealing for small investors.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He expressed the opinion that “the operating conditions in this industry should not be such that only large capitalists enter the cryptocurrency mining market but that all miners can operate.” He emphasized that changing electricity tariffs could stimulate the mining industry to generate more revenue.