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Decred Mining See’s Huge Boost With New Bitmain ASIC Mining Rig

Bitmain have announced the release of a new mining rig, specifically designed for the mining of Decred. Named the Antminer D3, the new rig will mine Decred at 7.8 TH/s.

The mining economy is sat within a spot of difficulty at the moment. With profitability down (in the mining of Bitcoin specifically), mining equipment sales have diminished. This latest Antminer release is set out to break through these problems and provide a new, super efficient alternative to mining Decred, an altcoin alternative which is heavily supported within South Korea.

A benefit to this is that an improvement to Decred mining will make the entire network far less susceptible

According to Cryptovest:

“Decred is a two-tier digital asset, relying on nodes that additionally verify the network, so a 51% attack through mining alone is not possible, and an attack on the network would be prohibitively expensive. With more ASIC, however, the mining component will become even more difficult to overtake.”

Why Decred?

Decred has seen a bit of a hashrate expansion over the summer months as a result of an increase in mining popularity. This is no doubt down to the reduction in Bitcoin mining profitability, therefore miners are seeking new alternatives. Because of the increase in attention on Decred, Antminer have realised a new market is opening up and have realised a demand for such hardware, simply put, they are responding to a demand from their target audience. According to Cryptovest:

“The hashrate for Decred started expanding significantly this summer, rising from around 3,700 TH/s in May to as high as 85,000 TH/s. Such rapid growth is always suspected to be the result of ASIC mining the chain in secret rather than amateur miners or pools with GPU. Given the friendly attitude of the Decred team to the ASIC, it is possible that some ASIC mining has already occurred. Decred uses the Blake 256 algorithm and is among the popular coins for cloud mining.”

This will no doubt encourage a new move towards Decred mining, something that in turn will only compliment and benefit the progression of the Decred project. With a new voting system set to be unveiled and a number of other new developments, Decred is on the verge of seeing an influx in growth, a growth that is now going to be encouraged in the right direction by new mining efforts, thanks to the production of the Antminer D3.

References
Cryptovest


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As a key writer for Crypto Daily, Nathan’s role entails the creation of cutting edge news articles, reviews, press releases and general content creation. Nathan’s stories strive to include the most up-to-date cryptocurrency news and affairs, contributing to Crypto Daily’s growing network. Nathans previous experience as a researcher, working on University standard projects means he has a wealth of experience in writing, from academic thesis publication to independent research projects. By applying these research skills to Crypto Daily, we can ensure the content creation team really do know what they are talking about.