Jihan Wu to Leave Bitmain's Board, Media Reports

According to the lawyer of Bitmain, with the transition to a new position, Wu lost his right to vote in the decision-making process of the board of directors
14 November 2018   406

The head of Bitmain Jihan Wu, resigned from the company's board of directors and moved to the position of supervisor, 8btc reports

According to the lawyer of Bitmain, with the transition to a new position, Wu lost his right to vote in the decision-making process of the board of directors, in connection with which he could no longer influence the management of the company.

According to the published document, in addition to Wu, three more functionaries left the management team. The changes allegedly took effect on November 7th.

The reasons for this decision were not disclosed. However, according to some rumors, Jihan Wu entered into an unspoken confrontation with Bitmain co-founder Mikri Zhang, since he is focused on product development in the field of AI and chip production.

In September, Bitmain filed an official application to the Hong Kong Stock Exchange for an IPO. It is currently under review.

In November, Bitmain announced plans to install 90,000 Antminer S9 devices in the Xinjiang Uygur Autonomous Region before the upcoming hard fork of Bitcoin Cash on November 15.

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   79

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.