Industry sources claim that Samsung Electronics recently signed a major chip-making deal with a Russian company called Baikal, which specializes in dedicated Bitcoin mining hardware. The Korea Herald reports that Samsung’s bitcoin mining apple-making arm will supply 14-nanometer ASIC chips for Baikal’s newly updated Bitcoin mining hardware.
First chip samples have already been tested, with mass production scheduled to kick off in January 2018. Industry watchers noted that since it’s very rare for Samsung, who usually sticks with the safer and established partners like Apple and Qualcomm, to team up with a lesser-known company based in Russia, the company is making a bet on the future business aspects of cryptocurrency. The main advantages of ASIC-powered Bitcoin systems over older mining devices that mainly rely on general-purpose CPUs, GPUs or FPGAs are speed and lower power consumption. South Korea is one of the world’s top five markets for mining software and hardware.
Get updates directly into your inbox. PSA: Jailbreakers should prepare devices for an iOS 11. This website is not affiliated with Apple. Apple’s latest policy changes mean lives in Candy Crush, or the next Flappy Bird, could soon be be bought using Bitcoin. Until now, the tech giant has rejected or removed any apps that allowed the use of virtual currency. But the latest update to the App Store Review Guidelines reveals a change of heart. Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.
This means Bitcoin could be used for downloads or in-app purchases from the Apple App Store. Google’s Android platform already accepts the digital money. Jay Karsandas, Digital Manager at Mobiles. The action that Apple has taken in allowing apps to transmit approved virtual currencies seems like the next natural step in adapting to the ever-growing prominence of cyber-cash systems, such as Bitcoin.
OS devices to act as Bitcoin wallets for use in online purchases, similar to what the Google Play store already offers. Virtual currencies are built around shared software, with users carrying out transactions directly with one another, without having to go through a bank or other company. Users create, or ‘mine’, new coins by taking part in mathematical operations within the system using cryptography. As a result, Bitcoin is more accurately known as a cryptocurrency. In recent months, the value of Bitcoin has fluctuated dramatically.