Linzhi ETH Miner Manufacturer to Oppose the ProgPoW

If the proposal is accepted, the impact of ASIC miners can be limited
09 January 2019   547

Based in Shenzhen, the manufacturer of miners Linzhi criticized the intention of Ethereum-developers to implement a ProgPoW solution, aimed at blocking ASIC-miners. It is reported by CoinDesk.

The possibility of updating the Ethereum codebase with ProgPoW activation was discussed by developers last Friday. If the proposal is accepted, the influence of ASIC miners will be limited, and the ETH mining will continue to be carried out on more traditional equipment like video cards.

According to representatives of Linzhi, the company was "shocked" by this initiative:

We reject arbitrary enforcement of rules, and request clear and equal guidelines to be established for all hardware makers. Today we are calling upon the ethereum developers to publish rules and requirements for what constitutes a good ProgPoW ASIC maker. 
 

Linzhi Team

Currently, Linzhi is developing an innovative chip for the Ethash mining algorithm. The company has already spent $ 4 million on its creation, and Linzhi is confident that the miners based on these chips outperform all ASIC devices on the market for Ethereum.

In a conversation with CoinDesk, a spokesman for Linzhi, Wolfgang Sproul, announced the developers' intention to explore the possibility of creating an ASIC device compatible with the ProgPoW solution.

Iceland Farm Thief to be Sentenced to 4.5 Years

He was able to escape to Amsterdam in April 2018, using prison's window
22 January 2019   88

Icelandic Sindri Tor Stefansson, who was previously charged with theft of bitcoin mining equipment for more than $ 2 million, was sentenced to 4.5 years in prison. Six of his accomplices also received various prison sentences. This is reported by local media.

In addition, convicts will have to pay more than $ 200,000 in compensation in favor of the affected mining company Advania.

In March 2018, Stefansson and his accomplices committed one of the largest robberies in Iceland's history, stealing more than 600 full-featured mining farms from Bitmain.

Police detained the robbers in the same month. However, in April, Sindri Thor Stefansson managed to escape from Icelandic prison and flew to Stockholm and then to Amsterdam, using cell phone and fake ID.

Less than a week later, police detained Stefansson in Amsterdam, after which he was extradited to Iceland, where he was brought to justice.