CoinGeek to Invest $300K in Electron Cash Projects

CoinGeek.com has announced funding of up to $300,000 per year for Bitcoin Cash open source projects to be developed by the Electron Cash team
31 January 2018   1526

CoinGeek, a cryptocurrency news site with a focus on the new Bitcoin Cash technology, has announced funding of up to USD $300,000 per year for Bitcoin Cash open source projects. The projects will be developed by the team of Electron Cash, which is an electronic wallet tailored for the BCH chain, and supported by nChain, the blockchain research & development specialist.

This new Electron Cash initiative comes hot on the heels of CoinGeek.com’s funding of another open source project, Terab. CoinGeek.com announced on Monday that it is funding of up to 3.6 million Euro to support Terab, an open source initiative that will solve a key technical issue to enable the Bitcoin Cash chain to massively scale to terabyte size blocks and 7 million transactions per second.

As it is reported on the CoinGeek website, the Electron Cash team and nChain will mutually agree on what software projects will be done under this initiative, including the development of:

  • Blinded threshold signatures in the Electron Cash wallet
  • A new ‘native’ version of the Electron Cash Android wallet
  • An iOS version of the Electron Cash wallet

This three-party initiative with Electron Cash, CoinGeek.com and nChain exemplifies the teamwork that is needed, with groups around the world, for Bitcoin Cash to succeed. We’re especially excited to work with the Electron Cash team to help realize implementations of some of our patent-pending inventions – such as blinded threshold signatures.
 

Jimmy Nguyen

nChain Group, CEO

At the moment of press, these are main market parameters of Bitcoin Cash:

Average price: $1 478,92
Marketcap: $25 055 529 883
24h volume: $852 233 000

Bitmain to Announce New ASIC Chip

BM1397 chip requires less energy and is able to achieve efficiency at 30J / TH
18 February 2019   392

This Monday, the Chinese mining company Bitmain announced the next-generation 7-nm chip codenamed BM1397, which, according to it surpasses its predecessors in performance and energy efficiency and is suitable for mining cryptocurrencies on the SHA256 algorithm, including Bitcoin and Bitcoin Cash.

The BM1397 chip requires less energy and is able to achieve efficiency at 30J / TH, which is “higher by 28.6% than the previous 7-nm chip from Bitmain”, codenamed BM1391.

BM1397 is manufactured using TSMC, a Taiwan-based semiconductor product company, which is one of the leading suppliers in the cryptocurrency mining industry.

The BM1397 chip will be installed in the new ASIC miners of the Antminer S17 and Antminer T17 models, the release of which Bitmain promises to announce later. The company does not provide other details of the updated devices in its message.