The television set is the first in a series of "blockchain appliances" that Canaan plans to build.
Beijing-based Canaan Creative, the second-largest manufacturer of Bitcoin mining technology in the world, has released a television set that mines Bitcoins as you watch it.
The television contains Canaan’s “AvalonMiner Inside,” which has a Hash Rate (computing rate) of 2.8 trillion hashes per second. By comparison, Canaan’s most powerful miner is capable of 11 trillion hashes per second. The television uses AI and is capable of taking voice commands.
CanaanCreative Will Release More Blockchain Appliances, Expected to Raise $1 Billion in IPO
The Bitcoin mined by the AvalonMiner Inside can be spent on products and services offered in a store platform that Canaan Creative has also built. (Pretty slick, huh?)
The South China Morning Post reported that the television is the first in a series of “blockchain-related home appliances” that will use the AvalonMiner Inside. The release of the product is the latest of the company’s big moves since it applied for an IPO in May. According to the South China Morning Post, the offering is expected to raise up to $1 billion; the company took in $205 in revenue in 2017.
We have no time to put our eyes on that since everyone knows that it's coming back. : ) We are always looking for long-term business, just like our machine's reliability.
Just work hard and get ready for the second half of 2018, cheers! pic.twitter.com/cYjAfJOUgr
However, not everyone is impressed with the new product. “It looks more like hype,” Xiao Lei, a Beijing-based bitcoin analyst, told the SCMP. “It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.”
”Blockchain Appliances” that Mine Coins Could Decrease Network Centralization
Canaan’s blockchain TV is slated to open up the business of Bitcoin mining to the average person. In the early days of the Bitcoin network, it was possible to mine BTC with a home computer. However, as more users joined the Bitcoin network, Bitcoin’s mining difficulty increased. This is a built-in feature of the Bitcoin network.
However, the huge popularity of the Bitcoin network has effectively made it impossible to profitably mine Bitcoins without a roomful of expensive equipment. In turn, the business of Bitcoin mining has essentially been taken over by mining farms and companies. Individual miners are few and far between; as such, the Bitcoin network is more susceptible to centralization than it ever has been.
Canaan is hoping that its AvalonMiner Inside will flip the script, enabling crypto mining to become a functional part of household life.
Beijing-based Canaan Creative, the second-largest manufacturer of Bitcoin mining technology in the world, has released a television set that mines Bitcoins as you watch it.
The television contains Canaan’s “AvalonMiner Inside,” which has a Hash Rate (computing rate) of 2.8 trillion hashes per second. By comparison, Canaan’s most powerful miner is capable of 11 trillion hashes per second. The television uses AI and is capable of taking voice commands.
CanaanCreative Will Release More Blockchain Appliances, Expected to Raise $1 Billion in IPO
The Bitcoin mined by the AvalonMiner Inside can be spent on products and services offered in a store platform that Canaan Creative has also built. (Pretty slick, huh?)
The South China Morning Post reported that the television is the first in a series of “blockchain-related home appliances” that will use the AvalonMiner Inside. The release of the product is the latest of the company’s big moves since it applied for an IPO in May. According to the South China Morning Post, the offering is expected to raise up to $1 billion; the company took in $205 in revenue in 2017.
We have no time to put our eyes on that since everyone knows that it's coming back. : ) We are always looking for long-term business, just like our machine's reliability.
Just work hard and get ready for the second half of 2018, cheers! pic.twitter.com/cYjAfJOUgr
However, not everyone is impressed with the new product. “It looks more like hype,” Xiao Lei, a Beijing-based bitcoin analyst, told the SCMP. “It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.”
”Blockchain Appliances” that Mine Coins Could Decrease Network Centralization
Canaan’s blockchain TV is slated to open up the business of Bitcoin mining to the average person. In the early days of the Bitcoin network, it was possible to mine BTC with a home computer. However, as more users joined the Bitcoin network, Bitcoin’s mining difficulty increased. This is a built-in feature of the Bitcoin network.
However, the huge popularity of the Bitcoin network has effectively made it impossible to profitably mine Bitcoins without a roomful of expensive equipment. In turn, the business of Bitcoin mining has essentially been taken over by mining farms and companies. Individual miners are few and far between; as such, the Bitcoin network is more susceptible to centralization than it ever has been.
Canaan is hoping that its AvalonMiner Inside will flip the script, enabling crypto mining to become a functional part of household life.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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