SAMSUNG IS MANUFUCTURING BITCOIN MINING CHIPS
A few months ago (approximately 5 months ago) when i began mining and doing research on cryptocurrencies, I came across a post or rather information that stated Samsung was planning to enter into cryptocurrency and utilize the blockchain technology by manufacturing bitcoin mining chips. I doubt i took the information seriously. Yesterday while checking out international news and surfing here and there on the internet, I came across information on the same that Samsung has officially started manufacturing cryptocurrency mining hardware.
Its quite interesting that the South Korean electronics giant has begun manufacturing ASIC (application-specific integrated circuit) hardware for Bitcoin mining according to The Bell a South Korean outlet. Mass production of these cryptocurrency mining equipment is set to start by the end of this month; January. Samsung will be Bitmain's first real competitor since Bitmain has been the main company championing the manufacture of ASICs.
Reports say they plan to start supplying the hardware in China before they can expand to other regions and countries. They will supply the mining equipment to an unknown Chinese mining equipment provider which will in turn distribute and sell the hardware mainly China. However,I'm sure this company will be able to ship the hard-wares to people from other regions. A Samsung spokesperson said that they were however unsure of how profitable it would be.
Last year Samsung did an experiment by building a mining rig from 40 old Samsung galaxy S5 phones. I expect these mining chips to be faster and efficient than other ASICs since they will be the latest crypto-mining technology. Kodak is also another company that plans to jump in into the blockchain train. Other companies that want to enter this train although not through manufacturing mining hardware include social media companies such as Facebook and Telegram.
During my first early posts on steemit, i told you guys that the huge cryptocurrency revolution had just started and crypto is here to stay. Its all happening guys. Let's expect such moves from more big popular companies.
Thanks for reading this post.
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Yeah; this is an evolving space and giants like Samsung has a very little competition from companies like Bitmain & etc.
Samsung could come with a reasonable miner/product which they always do with their electronic household items. This could surely take crypto to the next level by making mining a household activity. Hope to see this happen soon.
Thanks for sharing this awesome news and informing the community. Keep up the good work. Cheers!
great post man very well put together i can tell you put some real time in on this, i would really like to see a miner made by samsung i think it would be better then the antminers out there right now on the market thank you for the Awesome post
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Samsung will compete against Bitmain's ASIC, chip supplier. It will use its foundry in its semiconductor plant to manufacture bitcoin and #cryptocurrency mining equipment.
Important to note, #Samsung has one of the largest semiconductor plants.
Latest crypto headlines found at https://steemit.com/bitcoin/@nzfxtrader/hot-off-the-press-cryptonews
Amazing
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With South Korea poised to be the next crypto hub, they have to jump on that bandwagon, atleast with their entry it will see ASCII Prices drop.
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