The Bitcoin mining industry exists in a very close competition; every miner must stay on the cutting edge of the technology, in order to compete and stay profitable. Any potential efficiency gain creates an instant arms race, and is nearly impossible to overlook while remaining in the game.
Cryptocurrency experts and Mathematical researchers, Dr. Timo Hanke and Sergio Demián Lerner, recently announced their new ASIC mining chip technology, called AsicBoost, that claims to improve mining performance and revenues by up to 20 percent.
This new technology is implemented at the ASIC chip manufacturing level, existing both inside the processor hardware, and the software it runs. The result shortcuts particular, unneeded steps of the hashing process, thanks to a new design of the SHA-256 hashing engine.
“The new AsicBoost technology constitutes a breakthrough because it allows the mining chip to re-use calculation outputs that would otherwise be created and discarded on a continuous basis internally to the many hashing cores working in parallel on the chip.”
– Timo Hanke
Dr. Hanke explained that “while AsicBoost’s gain comes from the chip design, it also has a large software pre-processing component