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Meet the New King of GPU Mining

Meet the new king of gpu mining

Meet the New King of GPU Mining

Meet the new king of gpu mining

Tech Radar reports the new AMD Radeon VII graphics card is able to achieve a hash rate of 90 MH/s. The highest GPU hash rate prior to this was 69 MH/s on the AMD RX Vega 64. This is expected to greatly affect the efficiency of Ethereum mining.

Ethereum Mining Taken to a New Level

According to VoskCoin, a Bitcointalk member, the Radeon VII can achieve 90 MH/s without any tweaking, making it the most viable graphics card to mine Ethereum or any other GPU-mining based cryptocurrency. With a few adjustments, it can improve the hash rate up to 100 MH/s.

This increased performance is attributed to the improved memory bandwidth of 1 TB/s and 16 GB High Bandwidth Memory (HBM2). The older Vega card offers bandwidth of 484 GB/s and 8GB of HBM2.

Bitcoin uses ASIC mining as the difficulty is incredibly high compared to Ethereum. With GPU mining, anybody with a decent graphics card can be involved in securing the network and being rewarded. Ethereum, Ethereum Classic, and Monero are a few cryptos that utilize GPU mining.

bitcoin was also mined on a GPU in the early days, but as the hashing algorithm got more difficult, the amount of computations that had to be done to construct a Proof of Work (PoW) chain increased and got more difficult.

Until the launch of the Radeon VII, the NVIDIA Titan V was considered the best GPU to mine cryptocurrency. The Radeon VII’s price point also gives it a huge edge. While the older Titan V is priced at $2,999, the Radeon VII comes in at an extremely affordable $699.

AMD and NVIDIA have both seen their financial results suffer due to the spike and sudden collapse in mining. This could be an important development for AMD to start picking up the pace on GPU mining. After Q4 results showed a non-existent demand for mining, a cheap alternative to the Titan V that performs better may be enough for the effects of seasonality to be reduced.

While gaming rigs do not replace their GPU’s often, mining rigs for Ethereum are much more susceptible to wear and tear. Miners who have been reluctant to replace their GPU’s due to the high cost of the Titan V may now turn to the Radeon to improve their performance.

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Published at Wed, 01 May 2019 22:00:31 +0000

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BitPesa & BitBond Jumpstart Bitcoin Blockchain Loans to Kenya

German Blockchain loans provider BitBond has partnered with BitPesa to facilitate payments directly to Kenya mobile accounts.

BitBond: Sub-Saharan Africa is 10% of Our User Base

The international partnership comes as Sub-Saharan Africa grows to 10% of BitBond’s user base and BitPesa’s popularity in its native Kenya continues.

BitBond CEO Radoslav Albrecht said in a blog post Tuesday:

This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes. 

 

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Smaller African enterprises’ lack of access to mature funding options has become a focus in recent times. In catering specifically to businesses, BitBond hopes to provide a major overhaul to the local ecosystem using the Blockchain and bitcoin as a backbone.

Focus on Developing Market Financing

Earlier this month, Daimler hinted at the possibility of considerable expansion into African markets following its acquisition of a European cryptocurrency transmitter business.

The concept is likely to involve similar facilitation of funding access for local businesses – specifically those in the automotive transport sector – helping resolve the current status quo where loanshark-like operators abound.

Africa mobile

“The major problem observed in the automotive sector is lack of adequate financing facilities,” Ethiopian financial services company director Eskinder Desta told industry magazine Autconomy in an article discussing Daimler’s move.

Across the world’s developing economies, a reported 2 billion individuals and 200 million businesses lack the sort of funding options available elsewhere.

“This is an unprecedented level of innovation and convenience in the entire online lending space,” Albrecht added.

Blockchain Channels International Remittance Interest

BitPesa offers a raft of cashing out options on the consumer end, first and foremost via Kenyan mobile accounts, the analog equivalent of which – M-Pesa – has held a consumer monopoly for years in lieu of significant banking penetration.

The startup is seeing continued international interest in its remittance functionality. In February, Japanese-Kenyan company Africa Incubator joined up in order to expedite payments to and from the Far East.

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“We are always excited to partner with companies that make doing business in Africa easier and more efficient,” BitPesa’s CEO Elizabeth Rossiello continued on the BitBond deal.

Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth.

What do you think about BitBond’s plan to increase Blockchain loans to Kenyans? Let us know in the comments below!

Images courtesy of Shutterstock, Bitpesa, Bitbond

The post BitPesa & BitBond Jumpstart Bitcoin Blockchain Loans to Kenya appeared first on Bitcoinist.com.

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