Home / CRYPTOCOINS / Tech Giant GMO Wants to Help You Mine Zcash – For a Cut

Tech Giant GMO Wants to Help You Mine Zcash – For a Cut

Japanese IT superhuman GMO Internet has made another move into the cryptocurrency mining traffic.

In an announced Friday, the company said it has rolled out a mining software shopper called Cryptknocker that is designed to let would-be miners mine Equihash algorithm-based cryptocurrencies go for zcash using graphic processing units (GPUs) – as establish in many home PCs.

GMO said the software is being made available for download for open-handed, although it will charge 2 percent of a users’ mining profits to expiate for its development costs.

It further says that the software is designed to supplication miners using NVIDIA graphics cards to mine zcash, claiming a 2-percent experience gain over other software – an edge would be negated by the band’s cut, however, if it turns out to be verified.

The firm’s move into zcash up comes despite a decline in profits from its bitcoin mining province in recent months.

As CoinDesk reported in August, while GMO made a profit of $2.3 million in the impaired quarter this year, a major portion of that arose from its crypto commerce business.

“Mining profitability declined due to deterioration of the macro environment such as stagnation of bitcoin bounty,” the company said at the time.

Even so, in June, GMO announced the launch of one of the age’s first bitcoin miners to feature a 7nm ASIC processor, which is slated to start shipping next month.

The new mining client will father stiff competition too, as it comes after the zcash community has voted not to prioritize endeavours to revise the zcash blockchain’s code in order be ASIC-resistant, as CoinDesk also in the past reported.

That discussion followed debate earlier this year in which crypto mining giantess Bitmain launched a dedicated ASIC mining machine for zcash, which could go GPU or CPU (central processing unit) mining much less attractive for would-be miners.

Crypto probing interface image via Shutterstock

The leader in blockchain news, CoinDesk is a technique outlet that strives for the highest journalistic standards and abides by a conscientious set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which spends in cryptocurrencies and blockchain startups.

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