Alpha Technology announces first Litecoin ASIC miner
Bitcoin, the digital currency that has skyrocket in value over the past year, made early adopters exceptionally rich. However, Bitcoin is not the only crypto-currency on the block. Litecoin, which is equivalent to silver to Bitcoin’s gold, is gaining momentum. It is the second largest crypto-currency with a market capitalization of $600 million. Litecoin has seen a boost in popularity along side its older brother, rising 600 percent since 2012.
UK-based Alpha Technology has announced that it is developing the first Application-Specific Integrated Circuit (ASIC) mining hardware for Litecoin. After signing a partnership deal with Indian designer and manufacturer Dexcel Designs, Alpha Technology has announced two models of the Viper Model, the 5Mh/s version and the 25Mh/s version.
The company is taking pre-orders in the first week of January 2014 for the Litecoin ASICs with a 30 percent as deposit and will begin shipping around seond or third quarter of 2014.The Viper Miners will not only be able to mine Litecoin, but all crypto-currencies that uses the Scrypt hashing algorithm.
Dexcel Designs will handle hardware development and quality assurance while Alpha Technology is providing its expertise on crypto-currency and mining.
This would be a revolutionary breakthrough for Litecoin mining with the significant increase in computing power. At present, most Litecoin mining is still taking place on graphics cards or GPUs, similar to Bitcoin previously.