November 30, 2020

Canaan Creative launches new Ethereum mining device

Canaan Creative launches new Ethereum mining device

Canaan Creative is one of the leading Chinese manufacturers of cryptocurrency mining equipment - announced the launch of a line of new miners that can be used to mine Ethereum.

According to the developers, the device’s capabilities are 5 times superior to conventional GPUs that exist on the market today.

Ethereum runs on the Ethash algorithm, which was created to reduce the advantage of ASICs over GPU devices while at the same time promoting network decentralization.

Canaan Market Leader & Main Competitor - Bitmain- launched the new Antminer F3 miners for Ethereum mining last year. Then this product was twice as powerful as GPU equipment. However, the founder of the Ethereum network noted that ASIC miners do not pose a threat to the network and refused to change the Ethash algorithm.

At the same time, Vitalik Buterin emphasized that if Bitmain will ever control most of the network capacity, developers will accelerate work on Casper.