Bitmain announced the sale of new generation miners, and the first smart contract has been created on the bitcoin network
Bitmain Announces Pre-Sale of Next Generation Miners
Bitmain co-founder Mikri Zhang announced the start of pre-orders for its new crypto mining devices, according to WuBlockchain
These will be the world’s first devices based on 5nm chips, the energy efficiency ratio of which reaches 25–30 J/T. The estimated shipment of equipment will begin in January 2021.
However, Bitmain’s second co-founder Zhihang Wu said that 5nm mining devices are in the testing phase and may not go on sale anytime soon. A conflict continues between the co-owners over the management of the company.
“The Bitmain Group is committed to preventing customer fraud. Many new technologies need to be applied to bring the architecture of 5nm chips in line. The first generation of 5nm Bitmain BM1360 chips is only available for internal testing to address performance and reliability issues. There are no plans to launch a 5nm product on the market yet, ” CoinNess quotes the words of Wu.
Bitcoin whales are buying up coins amid dollar emission
Bitcoin is a safe haven asset for investors fleeing the massive release of the US dollar, analyst Willy Woo Wu writes.
He points out that individuals and companies holding between 1,000 and 10,000 BTC began to massively buy bitcoins after the US Federal Reserve launched a dollar emission campaign. Thus, investors protect their savings from the depreciation of the dollar, Wu said.
“The data says only one thing: buy coins, close your eyes and look at the chart in a year,” the analyst writes.
The first smart contract has been created on the bitcoin blockchain
Developers Nicholas Dorier and Chris Stewart have put what they say is the first smart contract on the Bitcoin mainnet.
They made a bet on the outcome of the US presidential election: if Donald Trump wins, Dorier will receive 1 BTC, if Joe Biden wins, Stewart will win. The smart contract also provides for the possibility of cancelling the transaction in March 2021 if, for some reason, the terms of the contract cannot be fulfilled.
The contract is based on Discreet Log Contracts (DLC) technology, which allows multiple parties to conclude deals regarding future events. Smart contracts are actively used in applications on Ethereum, Tron, EOS and other blockchains. According to Stewart, their deal will draw users’ attention to bitcoin and show the capabilities of its blockchain.