Japan-Based Tech Behemoth GMO Launches Zcash (ZEC) Mining Software
Japan-based internet services company GMO Internet has announced that it has launched Cryptknocker, a mining software client to mine Zcash (ZEC), designed to mine cryptocurrencies on the Equihash algorithm using GPU chips.
Zcash mining now provided by GMO
This latest development means that Zcash can be mined using the new software provided for free by GMO Internet. In its press release on September 28, the company stated that the Cryptknocker software mining is the fastest in the world.
It was introduced to the cryptocurrency world by an in-house development team packed with encryption technology know-how.
PKI (public key encryption infrastructure) and increased data processing speeds are some features that GMO developed and incorporated into the mining software for Zcash.
GMO has decided to make the software available for Nvidia’s brand of GPU chips instead of the ASICs widely used by mining firms.
Zcash freer alternative to crypto mining
The developers of Zcash introduced Equihash as a means of freeing transaction verification processes from the hands of a few cryptocurrency miners. Zcash, along with a few other cryptocurrencies make use of the consensus algorithm.
In its release, GMO added that the Cryptknocker software will be free to download, with the company funding development with a fee of 2% of all mining profits.
GMO revealed that its Global Signature program has been able to develop verification certificates, allowing the company to realize the world’s fastest hash rate for GPU-based mining on the Equihash algorithm.
GMO looking to challenge Bitmain
Bitmain, the world’s leading cryptocurrency mining company, has been busy rolling out new mining hardware and software for miners with GMO is looking to challenge the Chinese-based firm for industry dominance.
This has led GMO to venture into several cryptocurrency ventures over the past few months. Earlier this summer, the company launched its next-generation ASIC chips based on highly-advanced 7nm semiconductor manufacturing technology.
The company revealed that manufacturing has been completed and the chips are ready to be shipped by the end of next month.
The company has also seen an increase in its mining operations so far this year.
Last month, GMO announced that its total mining hashrate was 459 PH/s, an increase from the previous two months with the company mining 510 BTC and 25 BCH in August, with the hashrate expanding as they launch more mining facilities.
GMO also launched a live crypto trading platform via its subsidiary GMO Coin.