BTC Olympus is Developing a Scrypt ASIC
BTC Olympus is a Bitcoin mining hardware manufacturer, founded in June, 2013.
They are excited to announce that they will start the development of their first Scrypt ASIC miner: the ‘BTC Olympus Hyperion’.
ASICs are pieces of hardware designed just to perform the task of mining for Scrypt coins like Litecoin and Dogecoin.
Mining is the act of doing very complicated hashing algorithms necessary to verify transactions and secure the network.
These pieces of hardware are designed and manufactured to perform necessary hashing and nothing else.
With the increasing value of Litecoin against world fiat currencies, the economic incentive to build ASICs for Litecoin now exists.
There are two mining algorithms in use at the moment for coins. They are in Scrypt and SHA. Litecoin is the main Scyrpt coin, started in 2011.
Bitcoin is the main SHA coin, started in 2009. Scrypt was implemented in Litecoin as a way to resist ASICs as much as could be economically possible, by making the computations memory hard.
It is difficult to resist ASICs forever, as the value of a coin rises, people are incentivised to build them.
Litecoin has been very successful. It achieved a market cap of over US$ 1 billion last year, at the top.
Their engineering team will gather again to deliver what is hoped will be another top performance device.
Hyperion will perform proof-of-work for all Scrypt based coins. Hashing power is expected to be a minimum of 75 Mh/s at a power consumption less than 800 watts.
Customers will enjoy a lifetime international warranty on this product.
They company expects to deliver the first batch in Quarter 4 of 2014, with a reasonable price.
For more updates you can subscribe to their newsletter or send a mail to: [email protected]
(This is for information purposes only. Consumers should take all care and conduct their own research and investigations before entering into any purchase agreements).