GMO Internet Group has announced the release of a free software client which can be used to mine ZCash and other crypto currencies based on the Equihash algorithm. Known as Crypto Knocker, the software is free to download, although any profits generated from its use are subject to a 2% charge.
GMO’s, CEO (so to speak) Masatoshi Kumagai, defended the 2% fee claiming it will be offset by the efficiency improvements (also 2%, happily) the software offers over rival Equihash mining clients. But it’s not all about efficiency, apparently.
Noteably, the Crypto Knocker platform is designed specifically for use with NVIDIA GPU mining rigs.
According to the GMO website, Crypto Knocker represents the high-water mark in terms of ‘mining software speed’, by incorporating ‘high-speed encryption logic’ ‘cultivated in the certification authority business’. So there you go.
This recent announcement seems to indicate a continued effort on the part of GMO to expand its crypto mining operations. In June, the company released a 7nm ASIC crypto miner, which will start shipping in a matter of few weeks. Don’t even bother trying to purchase one – they’re all sold out.
Kumagai has made no secret of his desire to take on major hardware manufacturers. When the release of GMO’s ASIC was announced, he vowed to ‘top’ Bitmain. So the release of Crypto Knocker seems entirely in keeping with this pledge.
The only problem is that ZCash isn’t ASIC-resistant. And to make matters worse Bitmain, not content with its 70% market share in specialised mining hardware, decided to release a Zcash ASIC miner back in May. This of course means that general purpose GPUs are going to face some stiff competition in the mining of Zcash.
With that said, GMO revealed that the service name, ‘Crypto Knocker’ incorporates the Scandinavian word for ‘fairy’. According to Nordic folklore, a ‘knocker’ was a fairy which lived in a mine and caused random acts of mischief – a bit like GMO, really.
Considering the company’s erratic crypto mining strategy thus far, it may need all the supernatural help it can get.