July 4, 2022

New Ethereum Mining ASIC (ETH) from Canaan Creative

New Ethereum Mining ASIC (ETH) from Canaan Creative

Chinese mining equipment manufacturer Canaan Creative has unveiled a new Ethereum mining ASIC miner. whose efficiency is 5 times higher than the performance of publicly available GPUs, the Cryptoslate portal writes.

As presented this Thursdaydocumentation at the “New Era of Mining” summit in China, the Canaan device is 5.3-7.5 times higher than consumer equipment in terms of watts per megahash per second, traditionally used to measure the effectiveness of miners.

New Ethereum Mining ASIC (ETH) from Canaan Creative

According to Canaan itself, the new ASIC miner is not a development of the company as such, but is distributed through its channels in China.

“It's hard to explain, but this product was not developed or created by Canaan engineers. It is sold by our internal team and I am not an official Canaan product on a global scale. ”- said the company representative.

Etash Algorithm Used by EthereumIt was created with a focus on reducing the advantage of ASIC miners over publicly available equipment, which, as expected, should serve to increase the availability of mining and decentralization of the network.

Last year, another Chinese manufacturercryptocurrency mining equipment Bitmain announced Antminer F3 for Ethash, which in its essence was an improved GPU miner and at the time of launch it was only twice as much as public equipment.

In response to this, the creator of Ethereum Vitalik Buterinstated that ASIC miners did not threaten the network, and refused the proposal to change the algorithm so that equipment manufacturers took 6 to 12 months to adapt to new conditions, as this would distract developers from more important work.

“This is not bitcoin. Miners here do not control anything. If the day comes when most of the computing power is concentrated in the hands of Bitmain and they try to use it to the detriment, we will accelerate the development of Casper and deal with the remaining bugs. ”He assured.

Ethereum developers are also currentlyThey are considering introducing the ProgPOW algorithm, which will allow equalizing ASIC and GPU miners before switching the network to the Proof-of-Stake consensus mechanism. Subject to the resolution of the differences and final approval, ProgPOW can be integrated into the Ethereum code along with a hard fork next year.