Bitmain to Deny Jihan Wu is Out

Yesterday news that mister Wu left the post of chairman of the board of directors appeared
15 November 2018   349

Bitmain Bitcoin has denied rumors that its head Jihan Wu left the post of chairman of the board of directors. This is reported by CCN.

News that Jihan Wu and three other functionaries withdrew from the board of directors of the company appeared the day before. According to one version, Wu entered into an unspoken confrontation with Bitmain co-founder Micree Zhang, since he is focused on developing products in the field of AI and chip production.

It was also stated in reports of local publications, Wu moved to the position of Bitmain supervisor and lost his right to vote in the decision-making process of the board of directors, in connection with which he will no longer be able to influence the management of the company.

In a letter to CCN, Bitmain marketing manager Nishant Sharma confirmed that the board of directors of the company had undergone personnel changes, but the information that Jihan Wu had left the post of chairman called fake. He also denied the departure of other members of the board.

As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO. This is to simplify the board structure to facilitate its management. There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan.
 

Nishant Sharma

Marketing maneger, Bitmain

Bitmain filed an official application for an IPO on the Hong Kong Stock Exchange in September.

Zcoin to Implement Hard Fork to Fight ASIC Mining

After update, which implement new  Merkle Tree Proof algorithm, the cost of mining on ASIC devices will be significantly increased
10 December 2018   78

On Monday, December 10, a planned hardfork will be held in the Zcoin cryptocurrency network (XZC), the purpose of which is to oppose mining on ASIC devices. As expected, the upgrade will take place at 12:00 GMT.

As a result, the upgrade will activate a new algorithm called Merkle Tree Proof (MTP), the development of which has been carried out over the past few years.

It is noted that the MTP algorithm provides for increased use of RAM, which significantly increases the cost of mining on ASIC devices and thereby eliminates their advantages.

The FAQ section says that before hardfork users and operators of the nodes need to upgrade to the latest version of the Zcoin software (0.13.7.4). Earlier versions will continue to work, but the new release not only contains important fixes for various bugs, but also significantly improves network performance and throughput.

In addition, the developers warn that if after the hard forks the user still has an earlier version of the software, this can lead to incorrect display of balances in the Zcoin wallet.

Znode operators, in turn, will be excluded from the queue and will not be able to receive the award until they update the software to the latest version.

Zcoin Price
Zcoin Price

These news don't have any big effect on Zcoin's rate.