Tag Archives: Cryptonight

Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks

Mining hardware manufacturers have begun selling Cryptonight ASIC miners for next to nothing after privacy-centric cryptocurrency Monero carried out its threat to adopt a hard fork to maintain ASIC resistance. Last week, Monero activated its semi-annual hard fork, an update that included an alteration to its instance of the Cryptonight Proof-of-Work (PoW) consensus algorithm. Continue reading Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks

Monero Sticks to Anti-ASIC Guns

Say what you will about their position, but the developers of Monero are sticking to their guns. Over the weekend, Riccardo Spagni — lead maintainer of the privacy-centric cryptocurrency — released Lithium Luna, the latest version of the Monero source code. The update itself was planned, but included in the software is an emergency provision intended to prevent ASIC miners from operating on its network, which uses the Cryptonight Proof-of-Work (PoW) hashing algorithm. Continue reading Monero Sticks to Anti-ASIC Guns

Bitmain Announces New Monero-Mining Antminer X3

March 18 update: In a confusing decision, Bitmain has updated their sales page again for the batches 3 and 4 of the Antminer X3 to read “No shipping to Hong Kong,” while only yesterday the description for these batches denoted that they would “only” be shipped to Hong Kong.

Bitmain’s just-released ASIC-powered Antminer X3, designed to mine the CryptoNight hashing algorithm used by Monero (XMR), may not be effective by its first release in May 2018, according to an article by The Next Web published yesterday, March 16.

The new Antminer, announced on Bitmain’s Twitter on March 15, comes at two price points: $11,999 for the first round in delivered May, and $7,599 for the second batch, delivered in June.

Reference: https://cointelegraph.com/news/bitmain-announces-new-monero-mining-antminer-x3-cryptos-devs-say-will-not-work

Different Types Of Cryptocurrency Algorithms

The Most Common Cryptocurrency Mining Algorithms are as follows:-

SHA-256 Algorithm:

SHA stand for “Secure hash Algorithm” (SHA-256) generates unique 256-bit (32-byte) signature for a text string. Block processing time for SHA-256 generally ranges from six to ten minutes and requires hash rates at the Giga hashes per second (GH/s). SHA-256 hash rate is measured by GH/s: Gigahashes per second, or one billion hash computations per second. SHA-256 algorithm mining can be performed on an ASIC hardware (application-specific integrated circuit) Continue reading Different Types Of Cryptocurrency Algorithms