Bitcoin Core developer will make AntMiner’s killer

Active Bitcoin developer BtcDrak became a co-founder of Halong Mining
23 November 2017   2291

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,, 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.



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.

Buterin to Propose to Increase PoS-Validators Reward

According to Vitalik proposal, if PoS-validators, for example, validate 1,000,000 ETH, then the annual yield will be 18.1%
23 April 2019   97

The creator of Ethereum, Vitalik Buterin, published on GitHub a proposal on changing the reward scheme for validators after the transition of ETH to the Proof-of-Stake consensus mechanism (PoS).

According to the formula proposed by Buterin, if PoS-validators, for example, validate 1,000,000 ETH, then the annual yield will be 18.1%.

Buterin PoS Validators Reward Proposal
Buterin PoS Validators Reward Proposal

The more assets are fixed for validation, the lower the interest rate. So, 134 217 728 ETH will bring cryptoinvestors only 1.56% per annum. At the same time, the maximum annual emission volume will be 2,097,152 ETH.

Considering that the current volume of Ethereum's market offer is 105,777,585 ETH, this offer is focused on the medium and long term. Buterin also clarified that the profitability indicators are shown without taking into account proceeds from transaction fees. Consequently, the actual income of validators can be several percent higher than the values ​​indicated in the table.

According to Justin Drake, a researcher at the Ethereum Foundation, if after implementing PoS 32 million ETH will be allocated for stacking, the income of validators will be 3.2% per annum. At the same time, the annual emission indicator will be 1% (for comparison, the current indicator of Bitcoin inflation is 3.94%).

In this case, Drake notes that after the activation of EIP 1559 of the funds collected in the form of commissions, will be destroyed. Consequently, with an average gas consumption of each shard of 1000 ETH per year, inflation will drop to 0.5%.

Users left generally positive comments on the offer. However, some of them expressed fears that in the new conditions the exchange may receive significant advantages, which will be able to do stacking at the expense of clients.