SHENZHEN, CHINA, Dec 23, 2020 – (ACN Newswire) – Ebon’s exclusive license of the AsicBoost patent puts it in a very strong competitive position, and it is likely to develop into the ‘Qualcomm’ of the mining industry, even absorbing miners heavily dependent on Samsung, creating a new mining company that is capable of challenging the industry leader Bitmex. If this vision holds, Ebon will become the most suitable miner in the current market for investing.
On December 1st, Huangshou-based Ebang International Holdings Ltd (Nasdaq: EBON) announced it had signed a technology licensing agreement with AsicBoost patent-holder Circle Line International Limited, granting full exclusivity to the patent. After optimizing a bitcoin mining machine algorithm, AsicBoost can greatly reduce the amount of work a mining ASIC must do in order to compute a hashing attempt, thus reducing the energy consumption of the mining machine. The performance of the mining machine can be improved by about 20%, and the corresponding savings in mining costs are also about 20%.
AsicBoost, a SHA256 computing optimization algorithm developed by cryptologist Timo Hanke, PhD, was granted global priority by the inventor in late 2013 and published in May 2015, according to a statement from the patent attorney representing the patent. You can also find Dr. Timo Hanke’s revised AsicBoost white paper, published in March 2016. A 2017 letter from Getech, a law firm commissioned by the patent firm, noted that no company or individual had been authorized to file an AsicBoost patent, yet some mining companies had applied the design methods covered in the patent to mining hardware or software. At the time, the Chinese legal community held that the patentee had unsuccessfully applied for the patent, and one could therefore dismiss the patent’s claim. Read more…..
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