There has been quite a lot of controversy regarding Bitmain’s ASICBOOST technology over the past few days. This technology allows the company to use a flaw in the bitcoin mining protocol to gain a competitive advantage over their competitors. However, there are some some claims ASICBOOST only works with a specific type of scaling proposal. It is time we dive deeper into the mystery that is ASICBOOST.
Unveiling The Mystery That Is ASICBOOST
As most people are well aware of by now, Bitmain’s ASICBOOST technology provides them with additional mining power. To be more specific, the technology allows ASIC hardware to increase its mining efficiency by around 20%. This is achieved due to a reduction in the frequency of computing a part of the SHA-256 calculation. In a way, this is why Bitmain is “abusing” an “exploit” found in SHA-256 mining. A more technical explanation can be found here.
Moreover, it is also important to note ASICBOOST technology is not something that was only discovered a few days ago. The concept has been proposed quite some time ago, and Bitmain has been transparent about how they use a modified version of the technology. This whitepaper explains ASICBOOST dates back to March of 2016, and has been drafted by Dr. Timo Hanke. Speeding up an ASIC’s hashes by approximately 20% is quite a significant development, and can be applied to any type of mining device if needed.
Note from the Author: Bitmain does not own the AsicBoost technology, as the official patent for this technology is held by Timo Hanke and Sergio Lerner.
The way ASICBOOST works is difficult to explain without getting too technical. It is safe to say the technology allows miners to reduce the number of potential hashes required to solve a network block, resulting in increased efficiency. This results in making mining more profitable for anyone who has access to this technology in the first place. Not only does ASICBOOST improve the dollar per second earnings, but it also reduces the energy consumption required to achieve the increased profitability.
However, it is important to note Bitmain’s version of ASICBOOST is not necessarily the same concept as proposed in the whitepaper. Instead, the company’s mining hardware uses a different implementation where it scales to the hardware level. Considering how Bitmain is one of the world’s largest bitcoin mining hardware manufacturers in the world, the fact that it uses ASICBOOST means the new solution is an important technology.
This technology has gotten a lot of negative attention these past few days due to a post by Gregory Maxwell. He claims someone has successfully reverse engineered one of Bitmain’s ASIC miners. To be more precise, some people claim scaling solutions such as Segregated Witness will invalidate the use of ASICBOOST altogether. However, according to Sam Cole, owner of KnCMiner:
“It’s nearly impossible to reverse engineer any 16nm ASIC chip without a huge lab. In one of those chips there are billions of transistors 16nm in size. The microscope needed to even see that they exist isn’t exactly bought at Walmart. Without having access to the code of the chip it would be futile.” – Sam Cole
A discussion broke out on Reddit claiming how Bitmain uses their mining advantage as a way to justify blocking Segregated Witness. Moreover, there are some claims over how Bitmain has successfully generated millions of dollars in extra revenue because of their technology. The company quickly responded to these allegations and made it clear the company is not in fact using this technology on the bitcoin blockchain.
“Our ASIC chips, like those of some other manufacturers, have a circuit design that supports ASICBOOST. However, the ASICBOOST method has not been used by us on the mainnet.”- Bitmain
Furthermore, Bitmain went on to point out how they also hold a patent for ASICBOOST and that they can legally use it in their cloud mining platforms. However, they claim that they haven’t used the feature so far and are not planning to utilize it “for the greater good of Bitcoin”.
If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.
if yjis is ever used look out diff.
prescription drugs http://canadaedwp.com drugs causing ed
prescription drugs canada buy online sfyzskyo buy levitra best way to treat ed
What a great post. Thank you for sharing this! I’m going to send it to all my friends.
What a great post. Thank you for sharing this! I’m going to send it to all my friends.
Special offer, dont miss out on the Bitcoin craze, learn how to make money now!
Hmm it appears like your site ate my first comment (it was extremely long) so I guess I’ll just sum it up what I submitted and say,
I’m thoroughly enjoying your blog. I too am an aspiring blog writer but
I’m still new to the whole thing. Do you have any tips for
novice blog writers? I’d certainly appreciate it.
I don’t even know how I ended up here, but I thought this
post was great. I don’t know who you are but definitely
you are going to a famous blogger if you are not already 😉 Cheers!
I’m not sure where you are getting your info, but good topic.
I needs to spend some time learning much more or understanding more.
Thanks for great information I was looking for this info
for my mission.
Can you tell us more about this? I’d care to find out some
additional information.
I’m not positive where you are getting your info, however good topic.
I needs to spend a while studying more or working out more.
Thank you for wonderful information I used to be on the lookout for this information for
my mission.
Attractive section of content. I just stumbled upon your weblog
and in accession capital to assert that I acquire in fact enjoyed account your blog posts.
Anyway I will be subscribing to your feeds and even I achievement you access consistently quickly.
online pharmacy without a prescription indo viagral canadian pharmacies that are legit
best online pharmacy stores canadian pharmacy online viagra best online canadian pharmacy
anti-depressants walmart pharmacy online best erectile dysfunction pills
canadian government approved pharmacies antibiotics arthritis
best price prescription drugs best online international pharmacies Brand Levitra
cialis generic shopping cialis buy online dgeneric cialis
canadian pharcharmy online no precipitation costco pharmacy pricing online pharmacy reviews
does cialis work better over time lion cialis eyaculador precoz cialis
international pharmacies that ship to the usa over the counter sales of viagra what to say to get prescribed viagra
viagra gold what is it viagra prices viagra
viagra without rx buy dapoxetine viagra usa viagra sale in uk
We stumbled over here from a different website and thought
I might as well check things out. I like what I see so i am just following you.
Look forward to going over your web page repeatedly.
payday loans in seaside ca first cash advance broadway chicago payday loans longmont co
payday loans in modesto california start payday loan business safe online payday loan lenders
low payment payday loans 100 pound cash loans uk cash america jewelry and loan of chicago
chi puГІ prendere il cialis effects of cialis with alcohol somministrazione del cialis
cialis 30 day trial coupon taking l-citrulline and cialis together
cialis lowest price
Very smooth paragraph
free robux
how to get free money to pay off student loans cash credit key loan what happens if my payday loan goes into default
cheap viagra 25 buy sildenafil online nz best viagra in india
Pretty! This was an extremely wonderful article. Many thanks for
supplying these details.
Here is my webpage :: LeraBMarkrof
get viagra ireland viagra for sale in seattle wa. viagrapills
buy cialis online cialis going generic in 2019 in us
cialis without a doctor prescription
how much does cialis cost 30ml liquid cialis
cialis money order
how erectile dysfunction affects reproduction plaquenil retina erectile helper
what is zithromax good for zithromax over the counter a zithromax
hydroxychloroquine what is it favipiravir what is hydroxychloroquine prescribed for
tadalista 20 tadalafil tablets what is tadalafil used for
viagra for sale online how to make viagra what does viagra do to a woman