Samsung is moving fast towards perfecting the development of its three-nanometer (nm) minting chip, which could facilitate Bitcoin mining. The Korean tech giant is said to be ready to start trial production of this particular chip. These ‘application-specific integrated circuits (ASICs)’ chips are energy-efficient hardware units that can make Bitcoin mining less harmful to the environment. The launch of Samsung’s AISC chip has been awaited by some technology players in the world.
Follow report, a Chinese company called PanSemi will be Samsung’s first customer to buy these chips. PanSemi also designed ASICs to handle BTC mining.
Samsung is manufacturing its chip as a ‘all-around (GAA)’ product. Essentially, this means that these chips will have current gates on all four surfaces, allowing for more precise control of current. This can increase BTC mining efficiency by 30%.
SAMSUNGwith the upcoming offering, will create competition for Taiwan Semiconductor Manufacturing Company (TSMC), which also makes custom chips.
Samsung can add to the competition if it has a plan to create its own hardware, which it can afford to do. Mining BTC.
In recent times, BTC proof-of-work (PoW) mining has received much criticism in the industry.
In May, FTX CEO Sam Bankman-Fried as Reject Bitcoin as a viable payment network option. The director of one of the world’s most popular crypto exchanges has said that Bitcoin’s expensive and energy-intensive PoW mining has put it out of the race to become a cryptocurrency payment option. widely applied.
PoW mining needs a competitive validation method to confirm transactions and add new blocks to the blockchain. As a result, PoW mining operations are more expensive to maintain.
Previously, Ripple co-founder Chris Larsen proposed Bitcoin miners to switch from the existing energy-intensive PoW algorithm to a more energy-efficient PoS protocol.
Currently, the Ethereum blockchain is going through remodel to move it from PoW to a more energy efficient proof-of-stake (PoS) mining model.
Cryptocurrency is an unregulated digital currency that is not a legal tender and is subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any perceived recommendations, forecasts or any other information contained in the article.