Japan’s GMO Internet Group Launches Zcash Mining Software Client September 29, 2018 September 29, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsSeptember 29, 2018 by Kelly Cromley

Japan’s GMO Internet Group Launches Zcash Mining Software Client

Japanese internet services provider GMO Internet Inc. has unveiled its latest mining software built for mining Zcash (ZEC) on graphic processing units (GPUs). GMO introduced the new software, named Cryptknocker, in a media report published September 28.

Cryptknocker has supposedly been created to facilitate clients to mine cryptos which are based on the Equihash consensus protocol utilizing normally obtainable GPU chips.

Unlike custom built Application-Specific Integrated Circuits (ASICs), GPUs are broadly utilized in numerous residential computers. As earlier detailed, when Zcash team unveiled Equihash – the mining protocol used by Zcash and several other cryptocurrencies – they contended the ASIC-resiliant algorithm would function to remove transaction validations from the hands of a handful of miners.

GMO has stated that its latest mining software can be downloaded without restrictions, but the internet giant will charge a 2% fee on any mining income to make up for its development expenses. GMO contends that at a “mainstream” personal level, software that empowers “efficient calculation processing” is a significant aspect in effective mining.

Cryptknocker is only one of many businesses operated by GMO into the crypto domain. The company, as of now, operates its own GMO Coin crypto exchange, a key mining business and has even started paying a part of its employees salary in Bitcoin (BTC).

As the media release cites, this summer GMO also launched next-generation ASIC chips built on highly-advanced 7nm semiconductor fabricating technology. The company has plans to dispatch it as part of latest mining equipment by October end.

This July, GMO unveiled a novel internet banking business that will make use of blockchain as a core part of its technological tools, in joint venture with GMO Financial Holdings and Aozora Bank.

This March, GMO Coin promised to enhance its data safety after domestic regulators recognized deficiencies during a cross-industry search that took place after the $530 million hack of Japanese crypto exchange Coincheck in January.

Most lately, the company has launched Bitcoin-based application, dubbed “CryptoChips,” in August. The game offers Bitcoin as rewards.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.