On Wednesday, 2nd April 2018, Bitmain Technologies Ltd launched the “Antminer Z9 mini” cryptocurrency mining hardware product which is based on the Equihash algorithm. Equihash the Proof-of-Work [PoW] mining algorithm is used by various privacy-oriented cryptocurrencies such as Zcash.
Bitmain is a crypto mining hardware manufacturer based in Beijing, China. Bitmain is a manufacturer of Bitcoin mining equipment and designer of Application Specific Integrated Circuit [ASIC] chips. The manufacturing firm operates Antpool which is one of the largest Bitcoin mining pools.
Zcash [ZEC] is another decentralized and open-source cryptocurrency which offers its users privacy and transparency during transactions. Zcash payments will be published on a blockchain which is public.
Zcash uses Equihash [PoW] to prevent the progress of Zcash ASIC miners. Zcash has been mined using computing hardware with some general-purpose GPU chips, which are widely used among PC gamers. Zcash is looking to set a new benchmark in privacy.
According to the official website of Bitmain, Shipments of the Antminer Z9 will commence from the June 2018. The product is now available on their official website. Antminer Z9 is priced at $1999 by Bitmain.
Bitmaintech has tweeted in relation to the launch of Antminer Z9 mini:
“they are pleased to announce the launch of Antminer Z9 mini, which is an ASIC miner to mine various #Equihash-based cryptocurrencies. Order here in their website (https://goo.gl/fqzDLV )till stock lasts! #AntminerZ9.”
Zooko Wilcox, the Founder of Zcash says that:
“he is really chagrined that he let it sound like they were committing to a social contract of ongoing ASIC-resistance. It was never what he had intended to commit to because he always had thought that it would probably become impossible in the long-term, He had always believed that there would be fundamental trade-off between the widespread distribution of the coins on one hand and the miners having a low -cost investment into the coin on the other hand, and it might eventually prove to be very important for the “attack-resistance and network stability.”
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WAVES/BTC sees dramatic drop to reach 1 Satoshi on Binance exchange due to a massive sell order
Waves, the 29th largest cryptocurrency, hit lows against BTC on April 17, and users speculated that this could have been due to a massive sell order.
Waves, at press time, was trading a $2.71 with a market cap of $270 million and had a trading volume of $15 million. However, on April 17, the price of Waves hit rock bottom due to a massive sell-off similar to one that Ethereum witnessed a few years back.
As seen in the above chart, the price of Waves against BTC hit exactly 0.0000001 BTC, which amounts to 1 Satoshi. The volume for the said candle is also massive, further confirming a sell order of massive amounts. The coin has since increased by approximately 3% against Bitcoin in under 24 hours.
Crypto enthusiasts on Twitter couldn’t hold back their opinions as one user, @BitBitCrypto tweeted
“- $WAVES did not trade at 1sat, it traded at 10sat
– It is still a great project and with a huge potential
– This sell order has nothing to do with WAVES (the project)
– This trade wasn’t done on Binance web cause you can’t place this low, it was API
– I didn’t buy it at 10 sat”
Another user @BITCVIX tweeted:
1min WAVES/BTC flash crash on Binance (from 5200 sats to 1 sat) pic.twitter.com/C9WAGyjwp9
— BTCVIX (@BTCVIX) April 17, 2019
TradingView commented on this matter saying:
“Something strange is always happening in the #crypto market”
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