Cryptocurrency mining is a word of the town and almost in every country, there are increasing numbers of people that invest in mining various type of cryptocurrencies, including BTC, ETH, ZTC, LTC, etc.
Since the beginning of Bitcoin Revolution by Satoshi in 2009, a new group of encouraged miners joined to cryptocurrency mining corps and many companies have provided them with new hardware platforms to enhance their profitability and ease of mining.
However, the downfall of BTC and major cryptocurrencies’ prices in 2018 indicated that the mining industry still faces with a variety of problems which can be summarized as follows:
• Inherent increasing network and block difficulties that make established infrastructures unproductive and inefficient over the time
• The lack of market insight among the crypto miners which leads them to suffer from the market price downfalls and decrease their ROIs significantly
• Increasing maintenance and energy prices that makes mining a time-wasting business for small miners
• The rise of mega crypto mining farms like those established by major players that makes mining a centralized activity leads them to obtain major network hash rates, and threatens the network security by possible Sybil attacks
• The limiting horizons of mining flexibility against ASIC and ASIC Resistance forks done by major minable cryptocurrencies like Monero and ETC
Therefore, at SYNCHRONIUM® we decided to come to an end and develop a smart, cost-effective, multilayered, and leading-edge cryptocurrency mining hardware technology, called SynchroMiner™.