Crypto

Bitmain Has Launched The Antminer Z9 Raising Its Mining Monopoly

The new Antminer Z9 went on sale recently and already its pre-orders are more than those of the ‘Antminer Z9 mini.’ The ‘Antminer Z9 mini’ attracted huge sales from GPU miners when it was launched last year.

The new Z9 will retail at $3,319 and shipping is expected to start in September 2018. The latest model is the company’s most efficient and powerful ASIC miner. The new Z9 is therefore the most profitable ASIC in the Bitmain mining rig portfolio.

The Z9 controversy

The Z9 series have caused a lot of concerns in the mining sector because of the non-ASIC resistant cryptocurrencies. Bitmain has been working to increase its control on PoW mining.

There have been a lot of fears that Bitmain could take over 51% of the entire Bitcoin network. Currently it’s BTC.com and Antpool account for more than 40% of the total BTC hashing power.

The highly feared ‘51% attack’ has raised a lot of concerns among miners. This is because one entity could take over, control and manipulate the entire network. Some of the powers that are at the highest risk of manipulation include the ability to double-spend and control transactions. Additionally, there is the fear of scrapping the whole idea if decentralization which forms the foundation of all cryptocurrencies.

It is not only Bitcoin miners that have raised concerns about the new Antminer Z9 mini. Recently many Zcash miners complained of the possibility of new mining rig overtaking the current GPU mining community. This is feared because it may lead to scrapping of the whole idea of decentralization.

Effects of having centralized systems in a decentralized world

Zcash is particularly against the idea of centralization as it degrades its value and makes it less attractive among investors. With 51% of the entire Zcash network under the control of Bitamain, there are fears that the company could manipulate the value of ZEC tokens. This could be achieved by allowing only selected transactions or blocking many of them completely.

Recently Monero was also forced to hard-fork so as to avoid bearing the biggest control over its network was taken over.