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

According to the documentation presented on Thursday 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.

Canaan Creative To Launch New Device
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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 is a little hard to explain, but those are not products designed and built by Canaan engineering. They are products sold by the domestic sales team and are not an official worldwide Canaan product.
 

Canaan Team

The Ethash algorithm used in Ethereum was created with the aim of reducing the advantage of ASIC miners over publicly available equipment, which is supposed to serve to increase the availability of mining and decentralization of the network.

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

In response, the creator of Ethereum Vitalik Buterin said 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. The miners are not in control here. This is not Bitcoin; the miners are not in control here. If there comes a day where Bitmain has majority hash power and tries to use it for evil, then we will speed up Casper development and to hell with any remaining bugs.
 

Vitalik Buterin

Co-founder, Ethereum

Currently, Ethereum developers are also 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.





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Canaan Creative To Launch New Device
Canaan Creative To Launch New Device
Canaan Creative To Launch New Device
Canaan Creative To Launch New Device

Canaan Creative To Launch New Device

Canaan Creative To Launch New Device