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Bitcoin Miners Now Have a Tool to Verify Their Machines’ Hashrate

Consider it because the Carfax of bitcoin mining.

Introduced Wednesday, Compass Mining and mining consultancy Navier are rolling out a brand new software that lets patrons and sellers confirm the marketed hashrate of their specialised bitcoin mining machines.

Like most third-party verifiers, the software, HashTest, is working to reply a standard query for patrons and sellers: How does one thing really work versus the way it’s marketed?

Within the bitcoin mining context, it’s necessary as a result of there are few methods to confirm how a machine is definitely performing when plugged in and operating at a mining web site. That information is often saved non-public by mining corporations. 

“HashTest is a software we’ve got created for everybody to determine unbiased and unbiased info concerning an ASIC,” Compass Mining CTO Paul Gosker stated in a press release, referring to the application-specific built-in circuit machines that energy most bitcoin mining operations. “HashTest will enable sellers to reveal the efficiency of an ASIC to a purchaser.” 

Information for retail ASICs continues to be pretty splintered when it comes to transparency. For instance, the Compass mining market lets crypto miners massive and small buy and deploy their rigs. A software like HashTest would enable patrons of mining gear to get higher effectivity information on the machines they’re buying. Hashrate is a measure of the computational energy working so as to add new blocks to the Bitcoin blockchain.

“HashTest is the primary globally out there unbiased hashrate testing service,” Navier CEO Josh Metnick stated in a press release. “We’re not a producer, we aren’t a mine, we aren’t a pool, and we don’t make firmware. Our solely aim is to offer essentially the most correct and unbiased hashrate measurement. We imagine these datasets will empower each small and enormous miners to make extra knowledgeable choices.”

Source: CoinDesk


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