Industry sources claim that Samsung X11 mining bitcoin mac recently signed a major chip-making deal with a Russian company called Baikal, which specializes in dedicated Bitcoin mining hardware. The Korea Herald reports that Samsung’s component-making arm will supply 14-nanometer ASIC chips for Baikal’s newly updated Bitcoin mining hardware. First chip samples have already been tested, with mass production scheduled to kick off in January 2018.
Industry watchers noted that since it’s very rare for Samsung, who usually sticks with the safer and established partners like Apple and Qualcomm, to team up with a lesser-known company based in Russia, the company is making a bet on the future business aspects of cryptocurrency. The main advantages of ASIC-powered Bitcoin systems over older mining devices that mainly rely on general-purpose CPUs, GPUs or FPGAs are speed and lower power consumption. South Korea is one of the world’s top five markets for mining software and hardware. Get updates directly into your inbox. 3 with support for iOS 11.
This website is not affiliated with Apple. To bring you the best content on our sites and applications, Meredith partners with third party advertisers to serve digital ads, including personalized digital ads. Those advertisers use tracking technologies to collect information about your activity on our sites and applications and across the Internet and your other apps and devices. Many thousands of articles have been written purporting to explain Bitcoin, the online, peer-to-peer currency. Most of those articles give a hand-wavy account of the underlying cryptographic protocol, omitting many details. Even those articles which delve deeper often gloss over crucial points. My aim in this post is to explain the major ideas behind the Bitcoin protocol in a clear, easily comprehensible way.
Understanding the protocol in this detailed way is hard work. It is tempting instead to take Bitcoin as given, and to engage in speculation about how to get rich with Bitcoin, whether Bitcoin is a bubble, whether Bitcoin might one day mean the end of taxation, and so on. That’s fun, but severely limits your understanding. Understanding the details of the Bitcoin protocol opens up otherwise inaccessible vistas.
I’ll describe Bitcoin scripting and concepts such as smart contracts in future posts. This post concentrates on explaining the nuts-and-bolts of the Bitcoin protocol. To understand the post, you need to be comfortable with public key cryptography, and with the closely related idea of digital signatures. It may seem surprising that Bitcoin’s basis is cryptography.