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Crypto News

Chentan and the future of bitcoin mining: the hidden force behind miners ASIC

When people think about Bitcoin, they usually portray digital currencies, market plans, and decentralized networks. But behind each Bitcoin treatment lies a material infrastructure supported by very specialized devices – miners. And the global heart of this device? China, China.

Ping International Financing Center in Photo, ranked fifth in the world
Photo CC 4.0 by Charlie Fong, Wikimedia

The China’s Chinese Silicon Valley plays an important role but is often ignored in the Bitcoin ecosystem. ASIC symbolizes the integrated circuit of the application-designed chips on the contract that are designed only for the purpose of encrypted currencies such as Bitcoin. These chips are much more efficient than general purposes and are necessary to achieve the high retail rates needed to compete in the mining scene today.

The main players such as Bitmain, Microbt and Canaan have roots in China, and many research laboratories, factories and assembly lines are based or around. The city’s ecosystem is unparalleled: rapid initial models, narrow supply chains, skilled employment, and huge production capacity makes it the ideal site for ASIC development and manufacturing.

Although China has taken a suppression of local cryptocurrency mining, it still dominates the global market in mining devices exports. Countries such as the United States, Kazakhstan and Russia continue to rely on the machines born in Chentins to run bitcoin mining farms.

Without Shenzhen, Bitcoin will look completely different today. The tremendous increase in retail, which made Bitcoin more secure and decentralized, is directly related to the uncompromising innovation in ASIC devices coming from this city.

Therefore, while bitcoin is not central, the spine – the machines you keep working – aim to one place. Shenzhen may not be part of Blockchain, but it is deeply included in Bitcoin DNA.

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