As the value and importance of cryptocurrencies from all around the world is steadily increasing, the technological process behind the entire process is also becoming more advanced, as people are looking for more effective ways to farm Bitcoin.

With this in mind, SFARDS, formerly known as Gridseed has recently made a big announcement, as the firm has introduced the world’s first 28 nm Bitcoin and Litecoin Dual-Algorithm ASIC Tapeout. The system, also known by its shorter name of SF3301 will most probably be the next generation of dual-algorithm mining chips, which means that it will now be able to mine SHA-256 and Scrypt simultaneously, a performance that has never been achieved by another system.

The Chinese firm should be praised for the fact that the new system which is underway at this moment will hold some great implications on the cryptocurrency market, as it will make mining Bitcoin and Litecoin less of a stress for all. The power consumption improvement which is worth pointing out is thought to take efficiency to a whole new level. Now, when minding with SHA-256, chances are that the consumption should be below the 0.3J/GH range. While mining with Scrypt does consume more power, the amount is predicted to reach 2.0 J/MH, which is still great considering the complexity behind the mining process.

The Chinese company also reports that the new system will be extremely versatile, as it will allow users to easily farm more than one currency on the same device. When you think about it, this will allow price fluctuations to be easily harnessed and used to one’s advantage, as miners will no longer be forced to turn off their miners when a surprising situation arises. Another idea that the company is promoting is that users will now be able to farm altcoins in order to cover the electricity bill, whereas Bitcoin can be farmed for profit, which is another great idea bound to give the firm a larger number of clients from all around the world.

SFARDS has also received financial backing from a couple of reputable sources including some tier-one international partners, which means that it will continue to have the funds needed to further improve the system and ensure that more and more people begin using their algorithm to successfully farm both Bitcoin and altcoins, while keeping the profit high and the losses low. The firm, which is also funded by Li Xiao Lai will also continue working on new technologies, thus taking what they have just released to the next level, and allowing people to do a lot more than just mining more cryptocurrencies at the same time with the help of a powerful script.

With everything that has been outlined so far in mind, the release of the new service will be made in April 2015, right after the company finished clearing all the bugs out and making sure that it is viable for commercial release.

What do you personally think about SF3301? Will the system be good enough to influence the Bitcoin market in anyway? Let us know your thoughts in the comment section below.

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