- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
2018 was indeed rocky for virtually every crypto-related firm but that doesn’t change the fact that lots of milestones were achieved last year. Acknowledging this fact, Bitmain – one of the largest blockchain-based hardware and software companies in the world – took the time to reflect on their achievements in 2018 while giving an insight into their plans for the year 2019, in spite of the great hurdles the company has been facing.
Some of the mileage achieved in 2018 include:
Launch of ASIC and Asicboost
One of their biggest achievements in 2018 was the launch of ASIC and Asicboost. Asicboost together with the optimization firmware are designed to help cut back on the energy cost required to mine cryptocurrencies, while the 7nm ASIC chip was built to foster SHA-256 mining. Both ASIC and Asicboost demonstrate the firm’s continued efforts to foster the adoption, usage, and efficiency of cryptocurrencies and the decentralized economy a whole.
Launch of Sophon (Al) Products
2018 also saw the launch of Sophon (Al) products, which the company has worked on since 2015. Sophon and its products were created to provide Al level security. They can also be employed in facial recognition and recognition of objects and fingerprints.
Investing in Circle Internet Financial Series E Round
Bitmain entered what could be considered as its biggest partnership in the second quarter of 2018 when it invested in Circle Internet Financial’s US $110 Series E round. The project was directed at creating a tokenized US dollar coin dubbed USD Coin (USDC)trade. This project goes a long way to further promote the growth and adoption of the Internet of Money era. Bitmain is also leveraging this partnership to bolster CENTER’s efforts towards creating more reliable multiple-fiat backed stablecoins aimed at providing financial interoperability globally.
Other notable mileage achieved in 2018 include funding of a number of open-source developers who they believe have potentials and share in their vision, formation of their transparency policy, the launch of the Bitmain Crypto Index, and launch of a new blockchain datacenter in Rockdale, Tx.
After a year of achievements, Bitmain is prepared to make 2019 a better year. To that end, they have decided to rationalize their business to focus on activities that better reflect their core mission and vision.
Instead of being dismayed, they see the rocky state of the crypto market as a normal effect of a stabilizing and growing market, and as such they plan to continue to play their part towards the growth and development of the global crypto ecosystem.