Japanese IT giant GMO Internet has announced new software for Zcash cryptocurrency miners. Cryptknocker software allows would-be miners to use Equihash-based crypto-variant algorithms using graphics processing units (GPUs) found on many standard personal computers.
GMO is allowing users to download the software free of charge, but the company will be charged 2 percent of profits from its use, directly mining, to cover the cost of developing the product.
Basically, the new software is designed for mining Zcash coins using NVIDIA graphics cards. According to the developers, the proposed product is 2% more efficient compared to other similar software.
However, the new product faces stiff competition, as the zcash community voted not to make efforts to revise the Zcash blockchain code.
This decision was made after debate earlier this year, when mining giant Bitmain launched a specialized intelligent ASIC machine for Zcash. This could make GPU mining less profitable for potential miners.
Since the beginning of this year, there has been a noticeable decline in profits from cryptocurrency mining, however, IT companies continue to release new products on the mining equipment market, believing that the decline in the market is a temporary phenomenon.
The company is systematically increasing its capacity for mining digital assets. According to GMO, in the second quarter of this year the company made a profit of $2.3 million, the bulk of which came from its crypto exchange business. This may be why there are immediate plans to open a crypto exchange operating online.
You May Also Like
Bitmain IPO is in doubt
The public offering (IPO) of the largest miner manufacturer Bitmain may not take place, as the Hong Kong financial market regulator, which must approve the IPO, recently raised concerns about the lack of regulatory framework for the blockchain industry.
Ethereum will become deflationary next year
Ethereum is going into full deflation mode as the transition to ETH 2.0 approaches.
