Bitmain Releases Antminer Z9 as Monopoly on PoW Continues
The tech company’s most recent model is being marketed as being their most reliable and powerful ASIC piece yet, boasting 40.8k Sol/s± at a 5% hashrate under only 1150W± at 10% of power. In comparison, it would take sixty-five Nvidia GTX 1080ti’s combined to reach a similar power level.
The increased power capabilities of the Z9 allows for it to become the most profitable ASIC component in Bitmain’s mining market.
The company, however, has been the topic of discussion after it was thought that it could monopolize the Bitcoin industry, with 51% of the network accountable to Bitmain. Its BTC.com and Antpool mining groups already control 40% of Bitcoin’s hash capabilities.
The so-called ‘51% attack’ has become one of the largest threats to miners as a sole entity would be able to manipulate the whole network. They would also be able to control various transactions, in addition to double-spending transactions. Inevitably, Bitmain would be able to erase the concept of ‘decentralization’, the bedrock upon which digital currencies are built.
Other Crypto Affects
The worries do not only concern BTC miners- the new hardware prompted anger within the Zcash mining community over worries that it will completely rearrange GPU miners and remove the possibility of block rewards, giving them instead to the minority group of miners who have access to the components.
This results in Zcash’s deterioration as a less lucrative coin to invest in. As soon as Bitmain is able to control the majority 51% of the Zcash industry, it could severely affect the coin’s value via selective decision-making or blocking of transactions.
In order to prevent such a threat, PoS has gained popularity over PoW. For those who are unable to stray from PoW have to start relying on hard forks in order to change their protocol and resist Bitmain’s capabilities.