China Crypto Roundup (Sept 14- Sept 21): Chinese Team to Fork Filecoin, The Upcoming Whatsminer M50S May Surpass Antminer S19, Crypto Interest Rising Between Africa and China
The top stories from the Chinese cryptocurrency sphere this past week includes: Chinese team to fork Filecoin, Chinese bitcoin miner maker Whatsminer’s next-generation main product M50S may surpass Bitmain’s Antminer S19, a significant volume of cryptocurrency transactions is now being conducted between Africans and China……
Chinese team to fork Filecoin
Han Weiping, chairman of MIX group, said that they would fork Filecoin. Du Jun, the founder of Node Capital, a heavy supporter of Filecoin, said he would support the fork. he lists seven facts about the defects that exist in Filecoin to support the fork.
Han Weiping is an early investor in the Chinese crypto space. He invests in mining, OTC trading, wallet, IPFS, DeFi and more. He proposed to unite the community forces, be loyal to the IPFS ideal, and solve the above problems. On the 19th, the public test will start and mining can be carried out, and the mainnet will be launched in October.
Whatsminer’s upcoming M50S may surpass Bitmain’s Antminer S19
Chinese bitcoin miner maker Whatsminer’s next-generation main product M50S has started research and development at the beginning of the year 2020, and it may release trial production at the end of the year.
M50S will adopt Samsung’s 8nm chip, and its energy efficiency ratio may be upgraded to about 30J/T. In terms of the current bitcoin price, the M50S’s price may increase on the basis of m30s. Whatsminer may also launch an upgraded version of m30s before this.
Although the performance, stability of S19 is satisfactory, due to the disputes between Bitmain’s two co-founders, mining machine can not be delivered as scheduled. This has also brought opportunities to other bitcoin miner makers like Whatsminer, Canaan. If M50S (30J/T) is successfully launched, it will surpass S19 (34.5J/T), the main type of Antminer.
Crypto interest rising between Africa and China
A significant volume of cryptocurrency transactions is now being conducted between Africans and individuals and businesses in other regions — particularly China in Eastern Asia.
The high volume of cryptocurrency being transferred between Africa and East Asia is as a result, in many cases, of Chinese nationals accounting for both sides of the transactions. Lots of Chinese merchants are living in Africa for business, and use cryptocurrency to send funds home. Due to many African countries suffering from currency devaluation and instability which makes it difficult for their citizens’ savings to hold value, and Africans having to go through some hurdles to access foreign exchange, they now opt for cryptocurrencies like Bitcoin to transact their businesses.