AsicBoost claims 20% efficiency improvement te Bitcoin mining

The Bitcoin mining industry exists te a very close competition, every miner voorwaarde stay on the cutting edge of the technology, ter order to challenge and stay profitable. Any potential efficiency build up creates an instant arms wedloop, and is almost unlikely to overlook while remaining ter the spel.

Cryptocurrency experts and Mathematical researchers, Dr. Timo Hanke and Sergio Demián Lerner, recently announced their fresh ASIC mining chip technology, called AsicBoost, that claims to improve mining voorstelling and revenues by up to 20 procent.

This fresh technology is implemented at the ASIC chip manufacturing level, existing both inwards the processor hardware, and the software it runs. The result shortcuts particular, unneeded steps of the hashing process, thanks to a fresh vormgeving of the SHA-256 hashing engine.

“The fresh AsicBoost technology constitutes a breakthrough because it permits the mining chip to re-use calculation outputs that would otherwise be created and discarded on a continuous ondergrond internally to the many hashing cores working te parallel on the chip.”

Dr. Hanke explained that “while AsicBoost’s build up comes from the chip vormgeving, it also has a large software pre-processing component to it. [The] high-level vormgeving improvement reduces the number of gates needed to achieve a given hashrate.” The resulting process improves energy efficiency, while at the same time decreases the cost of the silicon manufacturing.

“AsicBoost is a enormous architectural leap ahead that wasgoed widely expected to be unlikely,” Dr. Hanke explained. “We expect [improvements] to be 12.5% for a very elementary straight-forward implementation of AsicBoost, and something closer to 20% for a more sophisticated vormgeving.”

A latest Bitcoin mining vormgeving improvement, Approximate Mining, wasgoed slated to make awesome efficiency gains earlier this year. AsicBoost is a very different process that is up to four times swifter, according Lerners’ estimate of Approximate Mining last year. The two processes are “definitely not” related to each other, Hanke told Plucky Fresh Coin. “They don’t affect each other at all.”

AsicBoost, by tegenstelling, is much closer to being deployed than the more theoretical Approximate Mining vormgeving, and can be added to existing chipsets without fairly spil much effort. “We believe AsicBoost will find its way into the next generation of chips,” Hanke said, “and from there on become standard te all future Bitcoin mining chips.”

The time it will take to see this fresh technology emerge ter mining equipments could be less than a year, Hanke explained. “Any chip that is te its vormgeving phase can still be modified to adopt AsicBoost,” he told Plucky Fresh Coin. “This modification is effortless and will only set back the schedule by a few weeks. But even at a zometeen phase the transition to AsicBoost is still possible.”

Hanke states that the major limiting factor ter the rate of deployment will actually be on the investment side. “Given the slower investment and development cycles that wij are observing te the Bitcoin mining industry now.”

Costs to implement AsicBoost will be negligible, with absolutely no cost difference ter the hardware. “The cell density on the chip does not switch,” Hanke said. “This is because whether you implement AsicBoost or not, you will always attempt to pack the gates spil dense spil possible. And AsicBoost does not affect your capability to do that.”

“It will most likely take about 1 year before wij see a product te the market. But technologically it is certainly possible to thrust it through quicker.”

Development cost, however, is another story, depending on which point manufactures are ter the fabrication process. “The only price you pay for AsicBoost is time: the development time to implement it. Spil consultants wij will make sure our clients achieve the best possible improvement to their existing vormgeving within all possible constraints that the client may have.”

AsicBoost’s services don’t end with this process alone. According to Hanke, his “consulting and services are not limited to AsicBoost, not even to mining,” he explained. “We have deep practice te blockchain technology and provide that to anyone who wants to build applications based on a distributed ledger.”

Lerner is well known via the bitcoin world spil a core developer, senior security consultant, and an executive developer at Rootstock Labs. He co-created the AsicBoost process with Dr. Hanke ter 2013-2014, and the pair applied for a patent “immediately, without much thought,” Lerner recalled.

“We didn’t publish strafgevangenis attempt to sell it because wij were not sure if the patent idea wasgoed good or not for something spil sensitive spil Bitcoin mining.”

After discussing the technology with developers Gregory Maxwell and Gavin Andresen, they ruled out simply providing the patent to the Bitcoin Foundation, “at that time the foundation wasgoed ter the middle of a PR storm,” Lerner explained. The team then determined to make the technology available to ASIC manufacturers for a licensing toverfee, so it does not favor any one miner overheen another, strafgevangenis incentivize centralization te any way.

The problem of mining centralization has bot weighing strenuously on many bitcoin developers’ minds lately, especially since core developer Peter Todd published an article two weeks ago pointing out a project to allegedly bribe Bitcoin miners to work against bitcoin’s privacy.

Ter Lerner’s opinion, Satoshi Nakamoto’s original implementation of SHA-256 cryptography, still ter use ter Bitcoin today, is a bit of a vulnerable point, albeit Bitcoin can still work well without substituting it. “The original vormgeving had several flaws,” Lerner told Courageous Fresh Coin. “None of them fatal. Nowadays wij know much more about PoW than when Bitcoin wasgoed created.”

“To truly prevent mining centralization spil it is today it would be better to substitute SHA-256 with another PoW function altogether, such spil ZeroCash EquiHash.”

Lerner says he is presently busy with his work on Rootstock, and will not be taking an active role at AsicBoost. More a point of pride than duty for helping to create the technology, Lerner is helping where he can because he feels that AsicBoost is a “unique, unexpected mining algorithmic improvement that wasgoed overlooked by Satoshi and everyone else.”

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