Canaan Creative unveils new ASIC miners for Ethereum

Posted 26 September, 2019

One of the leading producers of cryptocurrency mining equipment China's Canaan Creative has announced the launch of new ASIC capacities that can be used for Ethereum mining. The new facilities are said to be 5-fold more effective than common GPU in the market.

The products were unveiled during the summit held in China on September 26. The company representative noted that new ASIC miners show performance well above general equipment in terms of W to MH/s.

Notably, Canaan did not develop these miners itself, though new ASICs are distributed via the company's sales channels in China.

Ethereum features Ethash algorithm that was created to reduce the advantage of ASIC miners over publicly available facilities, though new miners are expected to promote mining and network decentralization.

For reference, Bitmain launched new miners Antminer F3 designed for Ethash last year. However, its equipment was just twice as effective as publicly available capacities. 

The founder of Ethereum network noted that ASIC miners do not pose a threat to the network. He also refused to change the algorithm to make producers spent up to a year to adapt to new conditions.

At the same time, Vitalik Buterin highlighted that if Bitmain grabs the bulk of capacities in the network someday, the developers will speed up the development of Casper.

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