Tech giant GMO Internet Inc. has declared that it is developing a virtual crypto mining software named Cryptknocker. It is basically designed to enable the users to mine the digital currencies, which are made up of usually-available graphic processing unit (GPU) chips. GPU chips are highly utilized in several domestic or personal computers.
Cryptknocker of the Japanese internet service giant will mine Zcash based on Equihash algorithm. The users need to pay 2 percent of their financial gains from mining to equipoise the development investment of the software although they will not require paying any charge for downloading the software.
The designing specialty of this software is that it suits miners using NVIDIA to mine Zcash cryptocurrency as there is a 2 percent efficiency profit over other software. Apart from this gain, since Zcash is performing better than Bitcoin in terms of profit, they have started mining this digital currency.
Among many other GMO’s ventures in the space of cryptocurrency, Cryptknocker is quite unique. The company already operates its own GMO Coin crypto exchange and made a financial gain of $2.3 million in the second quarter of the present year. However, the company officials said that mining profitability dwindled due to the worsening of the macro environment like stagnation of the Bitcoin price, as reported by Coin Desk.
The Internet group, which is already listed on the 1st section of the Tokyo Stock Exchange, announced the rolling out of the mining software on September 28 in its official site. The site noted that Cryptknocker is an advanced mining software for mining digital currency by utilizing Equihash algorithm.
“Cryptknocker takes advantage of the technical know-how of the certification authority business such as encryption technology including PKI (public key encryption infrastructure) and speeding up data processing when encrypting, which GMO Global Sign has cultivated,” the company said during the announcement.
The multi-dollar Japanese conglomerate already made an announcement months back that it would officially venture into the crypto mining business. In June this year, the company also designed a new mobile app that allow users to collect Bitcoin by playing games.
The post Japan’s IT Company GMO Launches Crypto Mining Software Cryptknocker To Mine Zcash appeared first on OWLT Market.
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