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Linzhi will develop an ASIC to bypass the ETH algorithm to limit mining with ASIC-s

While the developers of Ethereum cryptocurrency are working on algorithm that will make it impossible for mining ether with Asimov, Chinese manufacturers have already announced ASIC device that can bypass this algorithm.

So, the issue is a special ASIC-miner-resilient algorithm ProgPoW, has announced a Chinese mining company Linzhi. It is the company’s answer to the decision of the ETH developers to integrate the new solution into the system of mining cryptocurrencies, with the goal to minimize the impact of ASIC equipment in the process.

“Today I publicly declare that we are ready to develop ASIC miners for algorithm ProgPoW. We represent miner to ProgPoW, which is 3-8 times more effective”, — said the representative of the top management Linzhi the Wolfgang Sproule.

Currently, Linzhi is developing an innovative chip for mining algorithm Ethash. The company has already spent on its creation $4 million in Linzhi are confident that the miners on the basis of these chips outperform all commercially available ASIC devices for Ethereum.


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ETH / USD: technical analysis of the course, February 20-21, 2019