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Cryptocurrency, Bitcoin, Bitmain and more...

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On Sia’s “The State of Cryptocurrency Mining”

David Vorick, lead developer of Sia, recently shared a blog post titled “The State of Cryptocurrency Mining,” which provides a perspective into the cryptocurrency mining world.  

First off, we’d like to express our appreciation for David and what he’s achieved with Sia. The crypto community revolves around transparency and trust, and we hope to someday work with David and his team.  

That said, the article reflects some persistent misunderstandings about our business, and we’d like to take the opportunity to clear up the confusion. We’d like to briefly address the most egregious ones.  

“Playing Dirty” 

The article accuses Bitmain of “playing dirty,” claiming that that the company has attempted to block Obelisk from manufacturing in China.  

Considering the truly vast number and diversity of suppliers in China, it’s difficult to consider that Bitmain could possibly exert such powerful control over a competitor’s supply chain to the degree the article suggests. The article does try, though. Indeed, this section—fully six percent of the total article—tries to accuse Bitmain of “playing dirty” while stating twice that there is no evidence of same. 

There are numerous suppliers and other third-party agencies involved in the manufacturing of a miner, both in China and elsewhere.  

This is, at its very bottom, a conspiracy theory, much like some of the other ones we frequently encounter. This brings us to the next item.  

A3 and “Flooding the Market “

The article asserts that Bitmain floods the market with its mining rigs. Here is what really happened: At launch, Bitmain introduced a strict one-miner-per-user batch allocation policy and other methods [1][2] in order to restrict hoarding and combat centralization. The number of miners made available per round was purposely limited to help further regulate their introduction into their respective ecosystems. Since then, we’ve enforced this policy with the launch of all ASIC miners for cryptocurrencies that can be profitably mined by GPUs. The article’s calculations here are merely speculative. 

Again, in an article that makes a number of accusations, we wanted to tell our own side of the story. Our license-to-operate within the cryptocurrency ecosystem is vital to our business and we do not take it for granted. We will continue to provide industry-defining mining hardware and services, while remaining sensitive to the communities in which we participate.  

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Bitmain’s Coupon Giveaway – Lunar New Year 2018

In the past year, blockchain technology has attracted considerable attention across the world. The entire industry continues to thrive and grow. Meanwhile, we at Bitmain have also made continuous progress by keeping excellence as our focus. We would like to express our gratitude to all customers, whose trust and support have been essential to our progress. To this end, we are pleased to announce a Lunar New Year Coupons (the “Coupons”, each a “Coupon”) giveaway for all our customers (at the time of writing this).

 

Who are eligible for these Coupons?

Those who have successfully completed purchase (with 100% payment) of an Antminer S9, T9+, T9, L3+, L3 or D3 on our official website (https://www.bitmain.com/) before 23:59:59 on 26 February 2018 (GMT+8) will be eligible for the Coupons.

 

How much are these Coupons worth?

The answer to this depends on what and when you successfully placed and paid an order on www.bitmain.com. Please read below to find out.

  1. For EACH Antminer S9 that has been ordered and fully paid for before 23:59:59 on 26 February 2018 (GMT+8) and shipped before 23:59:59 on 22 February 2018 (GMT+8) (the shipping time shall be the one specified in www.bitmain.com), a US$100 off Coupon will be issued to the buyer.
  2. For EACH Antminer S9 that has been ordered and fully paid for before 23:59:59 on 26 February 2018 (GMT+8) but was NOT shipped before 23:59:59 on 22 February 2018 (GMT+8) (the shipping time shall be the one specified in www.bitmain.com), a US$200 off Coupon will be issued to the buyer.
  3. For EACH Antminer L3+/L3/T9 that has been ordered and fully paid for before 23:59:59 on 26 February 2018 (GMT+8), a US$100 off Coupon will be issued to the buyer.
  4. For EACH Antminer T9+/D3 that has been ordered and fully paid before 23:59:59 on 26 February 2018 (GMT+8), a US$200 off Coupon will be issued to the buyer.

 

When will the Coupons be issued?

All Coupons will be issued before 1 March 2018. Please click on “Coupon List” under “My Coupon” in “User Center” after logging into your shop.bitmain.com account, to check whether your Coupon has been issued.

 

When can these Coupons be used?

The Coupons can be used after they have been issued and will expire on 31 May 2018 (GMT+8).

 

Please note

  1. The Coupons will not be issued in cash and cannot be exchanged for cash. It can only be used to deduct the payment amount when you purchase our miners through www.bitmain.com.
  2. The number of Coupons that can be used in an order should be same as the number of miners in the order. More than one Coupon cannot be used for the purchase of one miner.
  3. During the purchase process, once the Coupon has been selected and the order has been submitted, the Coupon is deemed to have been used and cannot be used again, even if such an order is not fully paid.
  4. Coupons can be transferred to other users’ accounts on www.bitmain.com.
  5. The amount deducted by the use of a Coupon or Coupons cannot be invoiced.

For any queries or troubleshooting, please leave a message for our Support team at support.bitmain.com
Before submitting a message (or ticket), please remember to select the “Ticket Type”  and “Product or service” that is most closely related to your request to get a response in the shortest possible time.

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El gigante de la minería de Bitcoin Bitmain lanza un hardware de inteligencia artificial de aprendizaje profundo

“Bitmain vio tendencias en el negocio de la inteligencia artificial que eran similares a los primeros días del Bitcoin”.

Bitmain, con sede en Beijing, el productor de hardware de minería de Bitcoin más grande del mundo, hoy anunció sus primeros productos para acelerar las aplicaciones de inteligencia artificial (IA).

A principios de este año, los magnates de las finanzas informaron exclusivamente de que Bitmain decidió entrar en el mercado de la IA después de que visitásemos las oficinas de Bitmaintech Israel, el primer centro de I+D de la compañía fuera de China. Hoy, el director de Bitmaintech Israel, Gadi Glikberg, nos dijo: “Estamos muy orgullosos de formar parte del esfuerzo de desarrollo de software de los productos de Sophon. Nuestros investigadores de IA se centran en crear soluciones de visión artificial y PNL optimizadas para la plataforma de Sophon”.

Los nuevos productos son un CIEA (Circuito integrado específico de la aplicación) optimizado para funciones de formación para redes de aprendizaje profundo y un módulo avanzado con ventilador que lo combina en un paquete compacto y fácil de integrar. Estos pueden aplicarse en diversos casos de uso que incluyen reconocimiento de imágenes y voz, tecnología de vehículo autónomo, vigilancia mejorada de cámaras de seguridad, robótica, Internet de las cosas (IC) y más.

“El aprendizaje profundo es muy intensivo desde el punto de vista computacional y nuestra experiencia en la creación de hardware de alto rendimiento para Bitcoin nos ha preparado absolutamente para este apasionante ámbito de la informática”, señala Micree Zhan, director ejecutivo de Bitmain. “El hardware de inteligencia artificial es un ámbito que Bitmain está desarrollando proactivamente para desarrollar la próxima generación de aplicaciones de inteligencia artificial.

Bitmain vio tendencias en el negocio de la inteligencia artificial que eran similares a los primeros días del Bitcoin, por lo que comenzamos a explorar la inteligencia artificial hacia finales de 2015. Ahora, después de solo año y medio, tenemos los chips de producción en masa en nuestras manos”.

Los desarrolladores explican que los nuevos productos, llamados BM1680 y SC1, ofrecen compatibilidad total con las populares plataformas de inteligencia artificial, incluidos los principales Caffe, Darknet, Googlenet, VGG, Resnet, Yolo, Yoto2 y otros modelos.

— Avi Mizrahi, Finance Magnates | Original article:
https://www.financemagnates.com/cryptocurrency/innovation/bitcoin-mining-giant-bitmain-launches-deep-learning-ai-hardware/

Notice: Translated from English to Spanish by Bitmain. Bitmain is responsible for any grammatical mistakes or inaccuracies caused because of translation.

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Fabricante de ASIC para Bitcoin apuesta por la IA

El diseñador chino de chips apunta a las redes neuronales

SAN JOSÉ, Calif. — Una empresa con sede en Pekín que empezó diseñando circuitos integrados para aplicaciones específicas (ASIC por sus siglas en inglés) para la minería de bitcoin ha anunciado que está probando su primer acelerador para el aprendizaje automático. El BM1680 de Bitmain Technologies se ha optimizado para entrenar y ayudar a inferir a las redes neuronales profundas.

El chip se vende con un módulo ventilado denominado SC1. Bitman señala que lo ha diseñado para las redes neuronales Alexnet, Googlenet, VGG y Resnet y que también es compatible con los modelos Caffe, Darknet, Yolo y Yoto2

Bitmain cuenta entre sus principales objetivos con los grandes operadores de centros de proceso de datos de China: Alibaba, Baidu y Tencent. Señala también que se está planteando la contrucción de su propio servicio de aprendizaje automático.

La compañía piensa publicar detalles técnicos del chip en una charla de su director ejecutivo, Micree Zhan, en un evento que se celebrará en Pekín el 8 de noviembre. Apunta a una gran variedad de usos, incluido el reconocimento de imagen y voz, los vehículos autónomos y la mejora de las cámaras de seguridad.

Bitmain se fundó en 2013 y lanzó su primer chip, un acelerador SHA-256 para la minería de bitcoin, en noviembre de ese mismo año. Cosechó buenas ventas hasta finales de 2014, cuando la casa de cambio de bitcoin Mt. Gox quebró, hundiendo el mercado de bitcoin.

La compañía volvió con un chip BM1384 cuando resurgió el mercado de bitcoin en 2015. La dirección de la empresa afirmaba en un informe reciente que ahora tiene más de 600 empleados, vende cientos de miles de sistemas de minería al año y gestiona su propio negocio de minería.

A finales de 2015, Bitmain decidió empezar a trabajar en un chip de aprendizaje automático. “Ahora, después de solo año y medio, disponemos de chips de fabricación en serie”, comentó Zhan en un comunicado de prensa.

— Rick Merritt, Silicon Valley Bureau Chief, EE Times
Original article: https://www.eetimes.com/document.asp?doc_id=1332501

Notice: Translated from English to Spanish by Bitmain. Bitmain is responsible for any grammatical mistakes or inaccuracies caused because of translation.

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Bitcoin-Mining-Gigant Bitmain führt Deep-Learning-KI-Hardware ein

„Bitmain hat im KI-Geschäft Trends gesehen, die denen der Anfangszeit von Bitcoin ähneln.“

Der weltweit größte Bitcoin-Mining-Hardware-HerstellerBitmain mit Sitz in Beijing hat heute seine ersten Produkte zur Beschleunigung von Anwendungen zu Künstlicher Intelligenz (KI) agekündigt.

Anfang des Jahres hat Finance Magnates exklusiv berichtet, dass Bitmain sich entschlossen hat, in den KI-Markt einzusteigen,nachdem wir die Büros von Bitmaintech Israel besucht hatten – dem ersten F&E-Zentrum des Unternehmens außerhalb Chinas. Heute teilte uns der Leiter von Bitmaintech Israel, Gadi Glikberg, mit: “Wir sind sehr stolz darauf, an den Softwareentwicklungsbemühungen der Sophon-Produkte teilzuhaben.“ Unsere KI-Forscher konzentrieren sich auf die Erstellung von Computer-Vision und NLP-Lösungen, die für die Sophon-Plattform optimiert sind.“

Die neuen Produkte sind eine personalisierte Tensorberechnungs-ASIC (Application Specific Integrated Circuit), die für Schulungsfunktionen für Deep-Learning-Netzwerke optimiert ist, und ein fortgeschrittenes, luftgekühltes Modul – kombiniert als kompaktes, leicht integrierbares Paket. Diese können auf eine Vielzahl von Nutzungsfällen angewandt werden. Dazu zählen Bild- und Spracherkennung, autonome Fahrzeugtechnologie, verbesserte Sicherheitskamera-Überwachung, Robotik, das Internet der Dinge (IoT) und vieles mehr.

„Deep Learning ist rechnerisch sehr intensiv, und unsere Erfahrung in der Erstellung von Hochleistungs-Hardware für Bitcoin hat uns auf diesen spannenden Bereich des Computerwesens sehr gut vorbereitet“, sagt Micree Zhan, CEO von Bitmain. „KI-Hardware ist ein Bereich, den Bitmain proaktiv entwickelt, um die nächste Generation von KI-Anwendungen voranzutreiben.

Bitmain hat im KI-Geschäft Trends gesehen, die denen der Anfangszeit von Bitcoin ähneln. Daher haben wir Ende 2015 damit begonnen, KI zu erforschen. Und nun, nach nur anderthalb Jahren, haben wir die Massenproduktion von Chips in der Hand.“

Die Entwickler erläutern, dass die neuen Produkte mit den Namen BM1680 und SC1 mit den beliebten KI-Plattformen vollständig kompatibel sind – darunter Mainstream Caffe, Darknet, Googlenet, VGG, Resnet, Yolo, Yoto2 und weitere Modelle.

— Avi Mizrahi, Finance Magnates | Original article:
https://www.financemagnates.com/cryptocurrency/innovation/bitcoin-mining-giant-bitmain-launches-deep-learning-ai-hardware/

Notice: Translated from English to German by Bitmain. Bitmain is responsible for any grammatical mistakes or inaccuracies caused because of translation.

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Bitcoin-ASIC-Hersteller setzt auf KI

Chinesischer Chip-Designer zielt auf neuronale Netzwerke ab

SAN JOSE, Kalifornien — Ein Unternehmen mit Sitz in Beijing, dessen Anfänge im Design von ASICs für Bitcoin Mining lagen, hat angekündigt, dass es seinen ersten Beschleuniger für maschinelles Lernen testet. BM1680 von Bitmain Technologies ist sowohl für Schulungen als auch Inferenzen bezüglich tiefer neuronaler Netzwerke optimiert.´

Der Chip wird als luftgekühltes Modul mit dem Namen SC1 verkauft. Bitmain gab an, dass es für die neuronalen Netzwerke Alexnet, Googlenet, VGG und Resnet ausgebildet wurde und auch mit den Modellen Caffe, Darknet, Yolo und Yoto2 kompatibel ist.

Zu Bitmains Hauptzielgruppen zählen u.a. die großen Betreiber von Rechenzentren in China: Alibaba, Baidu und Tencent. Das Unternehmen sagte, dass es auch die Entwicklung einer eigenen Dienstleistung des maschinellen Lernens in Betracht zieht.

Bitmain plant, technische Details des Chips in einem Gespräch mit seinem Vorstandsvorsitzenden Micree Zhan bei einer Veranstaltung in Beijing am 8. November bekanntzugeben. Es wird eine breite Palette von Nutzungen anvisiert, darunter Bild- und Spracherkennung, autonome Fahrzeuge und verbesserte Sicherheitskameras.

Bitmain wurde 2013 gegründet und veröffentlichte seinen ersten Chip, einen SHA-256-Beschleuniger für Bitcoin Mining, im November desselben Jahres. Das Unternehmen konnte bis Ende 2014 hohe Umsätze verzeichnen, als Mt.Gox bankrott ging und der Bitcoin-Markt Schiffbruch erlitt.

Es schaffte ein Comeback mit dem BM1384-Chip, als der Bitcoin-Markt im Jahr 2015 wieder zulegte. Führungskräfte gaben in einem aktuellen Bericht an, das Unternehmen habe nun mehr als 600 Mitarbeiter, verkaufe Hunderttausende von Mining-Systemen im Jahr und betreibe sein eigenes Mining-Geschäft.

Ende 2015 beschloss Bitmain, mit der Arbeit an einem Chip für maschinelles Lernen zu beginnen. „Und nun, nach nur anderthalb Jahren, haben wir die Massenproduktion von Chips in der Hand“, sagte Zhan in einer Presseerklärung.

— Rick Merritt, Silicon Valley Bureau Chief, EE Times
Original article: https://www.eetimes.com/document.asp?doc_id=1332501

Notice: Translated from English to German by Bitmain. Bitmain is responsible for any grammatical mistakes or inaccuracies caused because of translation.

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Clarification of Bitmain’s Batch Releases

Dear customers,

Recently there has been incorrect information posted about sales and distribution of Bitmain miners. We would like all of our customers to have the correct information:

1. As explained in our previous blog post, Bitmain has no official vendors. We encourage all our customers to purchase only from our official web site.

2. We do not sell our machines continually. We sell in batches, based on our production schedule. When a batch is sold out there are no more sales until the next batch is announced.

3. We do not reveal the number of miners we are producing, or future production plans. If such information is advertised or claimed, it is not from us and is not reliable. Customers should not make purchase plans or decisions based on such claims.

Demand for Bitmain miners is very high. We strive to be fair and to give our customers the best opportunity we can to purchase our miners.

Best regards,

Bitmain

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OK, What in the World is an ICO, Anyway?

2017 is shaping up to be the Year of the ICO. China recently banned initial coin offerings, and instructed companies who had conducted such fundraising efforts return the money they received. Although $2.32 billion has been raised through ICOs – $2.16 billion of that has been raised in 2017, according to Cryptocompare – many people are still wondering: what in the world is an ICO, anyway?

The ICO headlines have been impressive. EOS raises $185 million in five days. Golem raises $8.6 million in minutes. Qtum raises $15.6 million. Waves raises $2 million in 24 hours. The DAO, Ethereum’s planned decentralized investment fund, raises $120 million (the largest crowdfunding campaign in history at the time) before a $56 million hack crippled the project. 

Short for ‘initial coin offering’, an ICO is an unregulated means of raising funds and is commonly employed by blockchain-based ventures. Early backers receive tokens in exchange for crypto-currencies, such as Bitcoin, Ether and others. The sales are made possible by Ethereum and its ERC20 token standard, a protocol designed to make it easy for developers to create their own crypto-tokens. While the tokens sold can have diverse uses, many have none. Token sales allow developers to raise funds to finance the project and the applications they are building.

Bitcoin.com writer Jamie Redman penned an acerbic 2017 post introducing the fictitious “Do Nothing Technologies” (DNT) ICO. “[F]illled with blockchain word salad and loosely related math,” the satirical white paper makes clear that “The DNT sale is not an investment or a token that possesses any value.”

It adds: “The purpose of the ‘Do Nothing for You’ blockchain is simple to understand. You give us bitcoins and ether, and we promise we will fill our pockets with wealth and not help you in the least.”

MyEtherWallet, a wallet for ERC20 tokens oft-associated with ICOs, recently tweetstormed an indictment of ICOs: “You do not provide support for your investors. You do not protect your investors. You do not help educate your investors.” Not everyone is so generally critical of the craze.

“ICOs are a totally free market way of raising money for financial startups,” says Alexander Norta, a veteran smart contract expert. “It is actually an anarcho-capitalistic way of financing, and it will lead to many cool innovations that will significantly reduce the role of fraudulent banks and oversized governments. ICOs will revive free-market capitalism again and reduce this government run crony-capitalism we have now.”

According to Reuben Bramanathan, Product Counsel at Coinbase, individual tokens serve different functions and rights. Some tokens are essential in the functioning of a network. Other projects might be possible without a token. Another type of token serves no purpose, as is the case in Redman’s satirical post.

“A token can have any number of characteristics,” says the technology-focused lawyer, a native of Australia who now lives in the Bay Area. “You might have some tokens that promise rights that look like equities, dividends or interests in a company. Other tokens might present something quite new and different, such as distributed apps or new protocols for exchanging resources.”

Golem network tokens, for instance, enable participants to pay for computer processing power. “Such a token doesn’t look like a traditional security,” according to Mr. Bramanathan. “It looks like a new protocol or distributed app. These projects want to distribute tokens to users of the app and they want to seed the network that is going to be used in the applications. Golem wants both buyers and sellers of computer processing power to build the network.”

While ICO is the most common term in the space, Mr. Bramanathan believes it to be insufficient. “While the term emerged because there are some comparisons [between the two ways of] raising funds, it gives the wrong impression from what these sales really are,” he says. “While an IPO is a well-understood process of taking a company public, a token sale is the early stage sale of digital assets representative of potential value. It’s really very different in terms of investment thesis and value proposition than an IPO. The word token sale, pre-sale or crowdsale makes more sense.”

Indeed, companies have moved away from the term “ICO” as of late because the term could mislead buyers and attract unnecessary regulatory attention. Bancor held instead a “Token Allocation Event.” EOS called its sale a “Token Distribution Event.” Others have used the terms ‘token sale’, ‘fundraiser’, ‘contribution’ and so on.

Both the US and Singapore have signaled they would regulate the market, but no regulator has taken a formal position on ICOs or token sales.  China did put a stop to token sales, but experts on the ground their foresee a resumption. The U.S. Securities and Exchange Commission and Financial Conduct Authority in the UK have commented, but none have established a firm position about how the law applies to tokens.

“This is a space of continued uncertainty for developers and entrepreneurs,” says Mr. Bramanathan. “Securities law will have to adapt. In the meantime, if best practices emerge, we will see developers, exchanges and buyers learn lessons from past token sales. We also expect to see some token sales move to the KYC model or at least a model intended to limit the amount people can buy and increase distribution.”

Image Source: Shutterstock

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Fraudulent Websites and Scams

Since the Bitcoin price broke new all-time highs this year, there has been an increase in the number of fraud attempts targeting Antminer buyers.

Although most of these attempts fail, there have been reports of some users falling prey to these scams.

We are even more concerned for our users since one of our old servers containing our users’ information was compromised by unknown attackers last week. This could mean that you may be contacted by impostors who pretend to be Bitmain’s official representative or Bitmain’s reseller to get payment from you for Antminers that they cannot and will not deliver.

Please remember:

  1. We do not have any official distributor or reseller anywhere

We receive various queries about whether X or Y is an “official distributor” or “official partner” of Bitmain’s products simply because X or Y claims to be an “official distributor” or “official partner” of Bitmain. We have no official representatives or distributors in any country. This brings us to the following point.

  1. We only sell on bitmain.com

Even if a Bitmain executive wanted to order an Antminer, he or she has to place the order on shop.bitmain.com. There is no other way of ordering hardware from Bitmain. We will never send you an invoice on Skype or using a Gmail email address, both of which have been used by impostors to scam Antminer buyers before.

We have previously sold certain hardware models on www.newegg.com and, if we do so again, we will announce it on our official Twitter and Facebook account.

  1. Type the exact URL or save the correct URL

When you want to visit our website, please type www.bitmain.com or shop.bitmain.com. You may bookmark these two websites to ensure you are not misled by a website that looks similar to our website and even has a URL that very closely resembles our real URL.

  1. The only invoice you should trust is the one automatically generated by bitmain.com

We never send a wallet address or payment link manually on Skype or by email. All our invoices and payment instructions are automatically generated and emailed by bitmain.com after you have placed an order there. If you fear that the email may not be genuine, you can also login to your Bitmain.com account to access the correct invoice or payment instructions.

  1. We will announce a new batch release date as soon as we know the date ourselves

If we haven’t announced the time of the next batch release of a particular product, we do not know the time yet. We announce this on Facebook, Twitter and via email to those who have subscribed to be notified about batch releases of that particular model. We do not have an Instagram or another social media account.

If you would like to subscribe to a particular model’s batch notification emails, please leave our sales team a message with your email address and name of the models that you are interested in staying notified about.

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What Every Bitcoiner Should Know About ‘Bitcoin Cash’

In a few days the notorious August 1st is approaching, and it’s likely this day will be remembered for a long time. This week Bitcoin.com discussed the possible scenario of a user activated hard fork called “Bitcoin Cash” as much of the community doesn’t realize this fork will likely still happen despite Segwit2x’s current progress.

Also read: Bitmain’s 24 July Statement about Bitcoin Cash

What is Bitcoin Cash?

Bitcoin Cash is a token that may exist in the near future due to a user-activated hard fork (UAHF) that will bifurcate the Bitcoin blockchain into two branches. The UAHF was initially a contingency plan against the user-activated soft fork (UASF) announced by Bitmain. Since this announcement, at the “Future of Bitcoin” conference a developer named Amaury Séchet revealed the Bitcoin ABC” (Adjustable Blocksize Cap) project and told the audience about the upcoming UAHF.

Following Séchet’s announcement and after Bitcoin ABC’s first client release, the project “Bitcoin Cash” (BCC) was announced. Bitcoin Cash will be pretty much the same as BTC minus a few things, like the Segregated Witness (Segwit) implementation and the Replace-by-Fee (RBF) feature. According to BCC, a few of the biggest differences between BTC and BCC will be three new additions to the bitcoin codebase that include;

  • Block Size Limit Increase – Bitcoin Cash provides an immediate increase of the block size limit to 8MB.
  • Replay and Wipeout Protection – Should two chains persist, Bitcoin Cash minimizes user disruption, and permits safe and peaceful coexistence of the two chains, with replay and wipeout protection.
  • New Transaction Type (a new fix was added, note the “UPDATE” at the end of this post)– As part of the replay protection technology, Bitcoin Cash introduces a new transaction type with additional benefits such as input value signing for improved hardware wallet security, and elimination of the quadratic hashing problem.

Bitcoin Cash will have support from various members of the cryptocurrency industry including miners, exchanges, and clients like Bitcoin ABC, Unlimited, and Classic will also be assisting the project. In addition to this help, Bitcoin Cash developers have added a ‘slow’ mining difficulty reduction algorithm just in case there’s not enough hashrate to support the chain.

Mining and Exchange Support

“We continue to remain committed to supporting the Segwit2x proposal, which has received broad support from Bitcoin industry and community alike — However, due to significant demand from our users, the Bitcoin.com Pool will give mining customers the option of supporting the Bitcoin Cash chain (BCC) with their hashrate, but otherwise Bitcoin.com Pool will by default remain pointed at the chain supporting Segwit2x (BTC).”

Bitcoin.com previously reported on Viabtc adding a BCC futures market to their exchange’s listed coins. The token has been trading at roughly $450-550 over the past 24-hours and reached an all time high of $900 when first released. Two other exchanges, Okcoin via the ‘OKEX’ platform and Livecoin have also announced they will also be listing BCC on their trading platforms. Bitcoin Cash supporters expect more exchanges to follow shortly after the fork is complete.

What Can I do to Obtain Bitcoin Cash?

Again, regardless of Segwit2x’s progress this fork most likely will happen and bitcoiners should be prepared. There are a few days left until August 1 and those looking to acquire Bitcoin Cash should remove their coins from third parties into a wallet they control.

For more information on Bitcoin Cash check out the official announcement here, and the BCC website here.

 

UPDATE, 28 July 2017: According to bitcoincash.org, a change (fix) has been introduced to make “New Transaction Type” to “New Sighash Type”. Following is more info on this new feature:

New SigHash Type – As part of the replay protection technology, Bitcoin Cash introduces a new way of signing transactions. This also brings additional benefits such as input value signing for improved hardware wallet security, and elimination of the quadratic hashing problem.

 

 

Written by Jamie Redman for Bitcoin.com | Original article: https://news.bitcoin.com….

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