Will new Ethereum ASIC Miners impact the market?


According to the latest news, the first Ethereum ASIC miners are ready to be released soon. How will new Ethereum ASIC Miners impact the market? What to expect from the release?

4 April, AtoZForex The first Ethereum ASIC miners are ready for the release, thus possibly starting a new era for the creation of Vitalik Buterin. This Tuesday, Chinese mining hardware manufacturer Bitmain has announced that it now will accept preorders for the Antminer E3. This miner is believed to be the first ASIC miner that is compatible with the Ethash Proof-of-Work (PoW) consensus algorithm.

ASIC Vs GPU miners

Following on this, these are the first Ethash miners that can utilize Application Specific Integrated Circuit (ASIC) chips. They are more efficient in comparison to the GPU chips that are presently used by millions to mine Ethereum, Ethereum Classic, and other Ethash-based cryptocurrencies.

Previously, Ethash was ASIC-resistant, yet, this news did not appear as a surprise. According to the media online reports, the research firm Susquehanna has found out that Bitmain intends to support Antminer E3. Reportedly, some of the smaller manufacturers are also looking into the development of Ethash ASICs. However, it is not precisely clear when we will witness the production release of these miners.

Will new Ethereum ASIC Miners impact the market?

According to Bitmain, the Antminer E3 is able to generate at least 180 MH/s. While these miners have not reached the market yet, online reports state that Bitmain has been using them privately. This might be the reason for the Ethereum’s drastic hash rate increase.

Some users see ASIC development as a positive news for the cryptocurrency sectors. However, others also believe that ASICs will tend to centralize hashpower in hands on a few corporations.

It is reported that the release of Antminer E3 will most likely aggravate calls for Ethereum to implement the planned hard fork in order to solidify ASIC resistance.

Earlier this week, he co-founder of Ethereum, Vitalik Buterin, has laid out a new proposal that could serve as an answer for one of the Ethereum network’s biggest questions – whether a limit on the amount of ETH would ever be set. Mr. Buterin has outlined the new Ethereum improvement proposal (EIP), while he has shared his latest remarks on the matter. He has stated that the maximum supply of Ether would be set at 120,204,432, “or exactly 2x the amount of ether” sold in its original sale in 2014.

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