Venezuela to pre-mine Petro and launch in 6 weeks

On the next day after "Petro" was declared illegal by parlament, the government of president Nicolas Maduro announced plans to pre-mine it
12 January 2018   1056

A day after the parliament declared Venezuela's "oil-backed" crypto currency illegal, the country's government, led by President Nicolas Maduro, announced plans for a "petro" premine. It is expected that the new crypto currency will be released in six weeks. This is reported by Bitcoin. com.

The petro will not be minable but [will be] pre-mined, that is, the complete emission will be under the control of the country. In addition, it will be assigned with a procedure similar to that of an auction. In a period of a month and a half, the sale of the petro cryptocurrency will take place” and people will be able to create their digital wallets.

Carlos Vargas

The Venezuelan Superintendent of Cryptocurrencies and Related Activities

What exactly is the crypto-currency platform is meant, Vargas did not specify. However, the most famous platform that is often used to create such tokens is the Ethereum blockсchain system with its ERC20 standard, which just means a pre-main.

As one of the Reddit users noted, the image of the Ethereum token can be found on the website of the Venezuelan Ministry of Communications; In the title of this file there is the word "petro".

Mining crypto currency is considered illegal in Venezuela. Earlier, Venezuelan miners had already been arrested for stealing electricity. However, according to Vargas, mining brings a big profit, which, accordingly, is a financial injection: "People will be able to engage in mining without fear of persecution. All these miners are invited to a meeting devoted to topical issues. 

The parliament's decision to recognize the new crypto currency illegal Vargas called disregard for its own country, explaining this by saying that "petro" gives Venezuelans an instant opportunity to protect themselves from inflation.

Bitfury to Represent Bitcoin Mining Optimization Chip

The product is called Bitfury Clarke ASIC and it's based on five successful generations of mining chips
20 September 2018   141

Bitfury Group introduced a new generation of hardware for bitcoin mining under the control of the integrated microcircuit Bitfury Clarke ASIC.

Five successful generations of Bitfury mining chips are the basis for new Bitfury Clarke ASIC. According to the developers, the new chip has the highest performance characteristics among the bitcoin mining hardware.

14nm Bitfury Clarke ASIC is fully optimized for Bitcoin Mining on SHA256. The hashing capacity is up to 120 Gigahets per second (GH / s) with energy costs of only 55 miljoules per gigahash (mJ / GH). The minimum required mains voltage is 0.3 V.

In addition to selling Bitfury Clarke chips, Bitfury also integrates Bitfury Clarke into other hardware, including its own servers for mining and BlockBoxes, as well as in the mining centers in Canada, Norway, Iceland and Georgia.