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01 Feb '13, 8pm

BitSynCom LLC Releases World's First Bitcoin ASIC Chips

New York, NY (PRWEB) February 01, 2013 After a year of speculation and rumor, the first application specific integrated circuits (ASICs) dedicated to Bitcoin mining have become a reality. Yifu Guo, 23, is now commercially shipping the fastest dedicated Bitcoin mining hardware in the world. The custom processing hardware dramatically increases the security of the Bitcoin network and professionalizes the Bitcoin mining industry. Yifu’s Las Vegas-based company, BitSynCom LLC, coordinated with partners in mainland China to make their ASIC project a reality. Named the “Avalon ASIC V1,” the mining hardware processes data at a speed of more than 65 gigahashes per second using only 500 watts of electricity. This represents a roughly 50x increase in mining efficiency. There is no central company or server behind Bitcoin, rather it relies on a distributed network (similar to peer-to...

Full article: http://www.howtobepopularvideos.com/bitsyncom-llc-release...

Tweets

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