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   692

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.

Mining Ban in China Won't Affect Bitmain & Canaan

This is said by the companies themself; also, Bitmain and Canaan did not indicate whether they intend to move the business abroad
11 April 2019   201

The prospect of a ban on mining in China will not have an impact on the operating activities of mining giants Bitmain and Canaan in the short term. This was stated by representatives of the press services of companies, 8btc reports.

At the same time, Bitmain and Canaan did not indicate whether they intend to move the business abroad, if the mining ban is set at the legislative level.

Note that China currently holds a dominant position in mining Bitcoin and Ethereum.

According to local cryptoexperts, mining equipment manufacturers will exist as long as Bitcoin has value.

Earlier in April, the National Development and Reform Commission of China issued a bill that called mining an “undesirable industry” and proposed banning it.

So far, the initiative has no legal force. Public discussion of the bill will last until May 7.