Siacoin Set To Release New Codes To Exclude Bitmain’s ASIC Miners
A developer community associated with Siacoin has confirmed renewed efforts to create new mining codes which would fork Bitmain off Siacoin’s blockchain.
The new code to be released by the decentralized storage project would make obsolete the mining hardware created by the crypto mining giants Bitmain.
Siacoin set to get new mining codes
The proposal for a new mining codes to fork Bitmain off Siacoin’s blockchain was made by Obelisk, a startup that aims to offer alternative mining equipment for the protocol.
The new mining codes proposed by Obelisk would give those running the software the option to exclude Bitmain’s ASIC miners by changing the rules so the machines are no longer compatible. The company noted:
“This will give the Sia community the ABILITY to fork and could invalidate all non-Obelisk Siacoin ASIC miners on the forked chain,”
Obelisk is led by one of Siacoin’s lead developers David Vorick was previously beaten to the mining market by Bitmain, hence the development of the code to exclude Bitmain ASIC mining devices.
The move would benefit Obelisk which is seeking to position itself as a more developer-friendly alternative to Bitmain for the Siacoin blockchain.
While Siacoin which is valued at $170 million, is the smallest addition to Bitmain’s portfolio, it’s also proving one of the most problematic for the company to mine.
Although Obelisk’s codes would see off Bitmain from the Siacoin network, it doesn’t deter the fact that individuals would need to purchase mining almost equivalent power in order to be able to secure the protocol and compete for rewards.
Siacoin backs the release of the new mining codes
At the beginning, Bitmain’s devices were created exclusively for Bitcoin. However, the extensibility of its expertise has seen it design hardware for other altcoin protocols which includes Siacoin.
According to the company, the Obelisk code will be available in “the coming weeks,”. The company also stated that the mining hardware is also almost complete and shipping of the devices is expected to begin this week.
Along with the announcement of the new mining code, Obelisk announced that Siacoin has backed the move for the new code. An excerpt forms the mail states:
“As of today, all Nebulous (the company employing Sia’s core developers) and Obelisk employees are supportive of a fork,”
The China-based mining giants recently announced its intentions to raise one of the largest Initial Public Offering (IPO): $1 billion before the end of this year.
The news is probably a response to Bitmain’s IPO which would mean an expansion of Bitmain’s interest which may also affect the mining operations of Bitmain.
With the announcement, Bitmain joins one of the world’s largest cryptocurrencies, the privacy-oriented Monero which implemented codes to remove Bitmain ASICs devices from its blockchain earlier this year.
Regardless of Obelisk’s proposal to launch a code that will effectively fork off Bitmain from Siacoin’s blockchain, the company has announced that it wasn’t activated because of fears of the network splitting.