Interview with Jihan Wu: Bitmain not so bad

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One of the developers of cryptocurrency zcash for recently took an interview with the head Bitmain Gihan Wu. Cihan has told in detail about the features of zcash for mining, revealed some interesting details of the “internal kitchen” Bitmain and explained why in the world of cryptocurrencies need information more hangars with usikami.

The gap between East and West

First, what disturbs the community zcash for the gaps in trust. In particular, many miners unflattering comments about Bitmain because information hiding is about to release a new Asimov for mining cryptocurrency. Community coin to decide what to do with the question of the replacement algorithm Proof-of-Work for protection against possible attacks on the blockchain.

As it turned out, the productive cooperation of both parties prevents the information gap between China and the United States. Chinese entrepreneurs rarely understand the intentions of the Americans, at the same time, the Americans it is difficult to adapt to the features of the Eastern mentality. The language barrier between the two countries has become a fertile ground for different kinds of fakes and provocations.

Wu noticed that this advantage of the detractors. The Internet is actively spread false rumors about Bitmain, however, the company is unable to effectively resist the lies. Therefore, the management Bitmain chose the tactics of non-interference is a manufacturer of Asimov not respond to provocations and silently produces its products. For example, when selling Z9 Antminer Bitmain even does not indicate that the mines zcash for asik.

According to Jihan Wu, the recent manipulation of hasraton network Monero does not have any relationship with Bitmain. The company was not taking advantage of the mining of Asimov to increase the complexity of the network. Manipulation could deal with another major miner, and he himself Wu denies any connection with this case.

Earlier, a large part Hasrat XMR were thrown on Monero Original (XMO). Wu mentioned that Bitmain had indeed received calls from the developers of cryptocurrency, but they were associated only with the questions of sponsorship.

We would never have managed to pull off such a large operation quietly in a hidden mining. Bitmain have over 2000 employees, in such circumstances, the inevitable leakage of information, so as to maintain a hidden mining we would need to send hundreds of workers.

The next few interview questions concerned the features of mining inside Bitmain. Jihan Wu confirmed that the company uses its own pool for mining cryptocurrency. Their asik also working on the zcash for production, test batch of equipment is already included in the production line. On the basis of Bitmain operates a small unit GPU mining, which also works with private pool of the company.

Who owns Bitmain?

In fact, Jihan Wu is the sole owner of the company. He owns only one-third. The rest is owned by the co-founder of Mikri Jang and several venture capital investors. However, Wu cannot be dismissed either, as he Mikri own a key share of the company.

Recall, the total capitalization of Bitmain has exceeded $ 10 billion. This is one of the four giants on the stock market. Jihan Wu himself confirmed that in 2017 the company’s profit amounted to 2.5 billion dollars from the mining and sale of Asimov.

How to make Bitmain better?

To Jihan Wu can be viewed as anything, but it does not negate its significant position in the world of cryptocurrency. Since the creation of Bitcoin Cash, his company slowly began to lose trust among cryptoendoliths, Wu often unflattering comments opponents BCH. However, the businessman is open to criticism and even listened to some advice that can help him to restore the trust of ordinary miners.

First, the CEO of Bitmain should open a channel for active communication with the public. Woo should be able to give clear answers to all questions from the community. Clear provisions can greatly strengthen the relationship between the Chinese manufacturer and the major miners in the United States.

Second, all policy Bitmain needs to be clearly documented. The company’s strategy is to place free access, as do most businesses in the US. Regardless of the nature of the business in Asia, people from other countries should also have the opportunity to evaluate the current direction of movement Bitmain. Of course, all the documents need to be updated regularly in case of change of course of the manufacturer.

Thirdly, Bitmain is in dire need of transparency. The company will become much more attractive for cooperation, if you publish some facts about himself. To raise the level of trust Bitmain should open with the following information:

  • corporate structure – who owns what, who reports to whom, and who is behind it all makes a profit;
  • the relation to the hidden mining (including cases inside Bitmain);
  • mining statistics – it would be nice to know the General, Hasrat of the company, the current distribution of capacity and the work pools;
  • information about possible innovations and unprofitable mining.

Wu listened carefully to all the advice and promised to discuss them with your team. Shortly after the interview on Twitter, which was first documents with information about test atikah for zcash for.

Twitter users responded warmly to the initiative Bitmain to be more open with their customers. It is quite possible that soon the company will fully restore trust.

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