The launch of the first batch of ASIC for mining Ethereum (ETH) is being prepared. It is known that the cryptocurrency of Vitalik Buterin is based on Ethash, the well-known Proof-of-Work (PoW) algorithm that is used in many other coins.
This algorithm uses two standard cryptographic algorithms SHA-3 and Keccak. On the one hand, this gives resistance to mining with the help of ASIC, on the other hand, it reduces the time of verification and execution.
Resistance to ASIC is guaranteed by an algorithm using a pseudo-random data set initialized in accordance with a variable block chain. This data set is called DAG (directional acyclic graph), it is updated every 30 thousand blocks (about 5 days). Despite this, several companies have managed to use ASICs to mine ETH .
Linzhi is a Shenzhen company founded in 2018 by Chen Minem, a former employee of Canaan Creative (Avalon bitcoin mining company). The startup, which received an investment of $ 4 million, is already working on this solution, although with a delay of about 9 months.
Initially, the first samples were supposed to appear in April 2019, the start of mass production in June.
“We underestimated the complexity of the chip and the time needed to develop the team and ensure the performance of the company.
We hope that in the future we will be able to move along the following schedule: in December 2019, experimental models of devices will appear, and in February 2020 we will launch them in mass production. ”
Now the company is preparing the first batch of 200 ASICs.
If ASICs are competitive, then after the start of mass production, the company will challenge the industry leaders Bitmain and InnoSilicon. The first specifications mention 1,400 megabytes per second (MG / s) at a rate of 1 kW / h.
In comparison, the InnoSilicon A10 has 450 MHz / s with an energy consumption of 850 W, while the NVIDIA GTX TitanV, one of the most powerful on the market, reaches only 656 MHz / s with a power consumption of about 2.1 kW / h (source f2pool ).
ASIC prices are still unknown, but Chen has developed a system of discounts on first orders for customers who purchase only a few devices, as they contribute to decentralization.
One of the main problems for the company that produces ASIC for Ethereum is the ProgPoW algorithm. This is the Proof-of-Work (PoW) Consensus Algorithm, ASIC Resistant. Its development is already underway, but without any specific deadlines.
Of course, he is unlikely to be ready for the next Ethereum Istanbul hard fork , scheduled for October 2019. The update will be divided into two parts: the first part, if there are no delays, will be introduced into the network in October and will include six changes to the protocol (EIP).
In addition, Ethereum is preparing to switch to the Proof-of-Stake algorithm , which will happen simultaneously with the launch of Casper. Switching to PoS will make any ASIC completely useless.
As the implementation of the Ethereum Foundation plans, the company will focus on ETC mining.
Publication date 09/13/2019
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