New Cryptknocker Mining Software by GMO Internet Lets Miners Mine Zcash using GPUs
New Mining Software – Cryptknocker – Lets Miners Mine Zcash And Others With GPUs
GMO Internet is constantly looking for innovative ways to support technology and development in the world, though their recent focus has been on cryptocurrency. As such, they have created a new mining software client called Cryptknocker. According to a Friday annoucement, this new software makes it possible to use graphic processing units (GPUs) for mining Equihash algorithm-based coins, like Zcash.
According to the announcement, the software is entirely free to download. However, as the miners mine, they will have to give up 2% of the profits, which supports the ongoing development of the software. Furthermore, the software is setup to coordinate with users that have NVIDIA graphics card in their system. The statistics say that this provides an extra 2% efficiency gain beyond other software, though it is basically cancelled out because of the cut that the company takes.
This seems to be one of the many efforts that GMO is taking to become a part of the cryptocurrency community, though it might be ill-advised, considering the downward trend of crypto profit lately. Most likely, they have been encouraged by their own success, considering an August report that showed a major fraction of the company’s $2.3 million in revenue came from crypto. At the time, the company stated, “Mining profitability declined due to deterioration of the macro environment, such as stagnation of Bitcoin price.
Still, the company made an annoucement in June that that they would be one of the first mining software companies in the world to launch a 7nm ASIC processor. This device will start shipping in October.
All of these changes create some major competition in crypto mining, especially since it follows the decision from the Zcash community to not become ASIC-resistant for mining efforts for now. This decision came at around the same time that Bitmain decided to launch an ASIC machine for Zcash exclusively.