Monero and SiaCoin Reject Bitmain’s ASIC Miners

On March 24 the creators of Monero made an unprecedented statement – the project devlead, Riccardo Spagni, warned that the coin’s protocol would be changed every six months to make the cryptocurrency less appealing to application-specific integrated circuit (ASIC) miners.

The measure was initiated after Bitmain announced a new super powerful Antminer X3 ASIC miner designed specifically for calculations based on the CryptoNight algorithm, which is the basis for such cryptocurrencies as Monero (XMR), ByteCoin (BCN) and AeonCoin (AEON).

The dominance of Bitmain shook the reputation of industry giants AMD and Nvidia, whose shares fell sharply after Wall Street firm Susquehanna reported that Bitmain’s new Ethereum miner would increase its competitiveness on March 26.


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