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As part of its new policies, Bitmain has released that, according to statistics of the past 30 days, the mining equipment owned by the company has a processing rate of 1892.05 PH / s for the logarithm SHA256 (which is used in Bitcoin), a rate that accounted for 4.4% of the total hashrate in Bitcoin which is currently 43 317.28 PH / s.
comparing this hashrate that the Bitmain equipment manages with that of other networks that also use the logarithm SHA256, it must, in the case of Bitcoin Cash (with a treatment rate of 3.810.9 PH / s) the mining company would concentrate the equivalent to 49.64% of Bitcoin Cash hashrate .
Apart from the logarithm SHA256, Bitmain claimed to have a processing power of 339.69 GH / s in ETHASH, an algorithm used in the Ethereum network, and 44.19 GH / s in Scrypt, an algorithm used in projects like Litecoin. If we compare these rates with current Ethereum and Litecoin processing speeds (282.627.8 GH / s and 313.267.2 GH / s, respectively), Bitmain equipment would only process 0.12% in Ethereum and 0.01% at Litecoin
More Transparency
Bitmain's new transparency policies aim to "eradicate secret mining" and provide the ecosystem with a better knowledge of the company's mining activities in compliance with the legality and equality of competition, say the release authorities.
In this sense, the company decided to restrict the number of ASIC orders, provide guarantees of first shipments, block the suspicious IP addresses that monopolize lawsuits and make open publications on society, measures that made it possible to disclose the quantity of hashrate mined by Bitmain.
The company has also made sure that this is against "secret mining", a practice in which an ASIC manufacturer gets advantages over individual minors when commissioning new equipment before sale, activity to which Bitmain is linked. before. "Bitmain has been unfairly accused of this practice," the statement said on the subject
. In addition to these measures, the company will also assume the policy of not extracting empty blocks, a practice widely spread in Bitcoin mining operations. . Likewise, they have committed to continuously publishing information on miners' shipments and new ASIC volumes in their Twitter account.
Increased growth, greater legality
Users of social networks and members of the cryptocurrency ecosystem began to consider that the change in Bitmain's transparency policies is motivated by its new cycle of financing in connection with the company's IPO (IPO) in Hong Kong.
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