ï»? 128 million refund to consumers Australian Government
An application specific integrated circuit, or ASIC /esk/, is an integrated circuit (IC) customized for a particular use, rather than intended for general purpose use. For example, a chip designed to run in a digital voice recorder is an ASIC. Application specific standard products (ASSPs) are intermediate between ASICs and industry standard integrated circuits like the 7400 or the 4000 series.
As feature sizes have shrunk and design tools improved over the years, the maximum complexity (and hence functionality) possible in an ASIC has grown from 5,000 gates to over 100 million. Modern ASICs often include entire microprocessors, memory blocks including ROM, RAM, EEPROM, Flash and other large building blocks. Such an ASIC is often termed a SoC (system on chip). Designers of digital ASICs use a hardware description language (HDL), such as Verilog or VHDL, to describe the functionality of ASICs.
Field programmable gate arrays (FPGA) are the modern day technology for building a breadboard or prototype from standard parts; programmable logic blocks and programmable interconnects allow the same FPGA to be used in many different applications. For smaller designs and/or lower production volumes, FPGAs may be more cost effective than an ASIC design even in production. The debit cards will work on Australia's EFTPOS network, through which over 17 million transactions take place every day, and will offer users free transfers from anywhere in the world as well as easy payments between individuals. As CoinJar CEO Asher Tan explains, "Swipe lets CoinJar customers spend their bitcoin at any retail outlet that accepts EFTPOS, or withdraw cash from EFTPOS compatible ATMs. It's all part of CoinJar's plan to build a simple, usable bitcoin ecosystem." About 100 CoinJar users will participate in the trial and use the debit cards over the next couple of weeks, before CoinJar makes the service available to its larger base of approximately 30,000 users.
Texas based mining hardware maker CoinTerra has announced the new AIRE miner, the company's first bitcoin miner based on 16nm silicon. CTO Timo Hanke believes it will deliver a substantial increase in efficiency, and will greatly benefit the consumer market. He explains, "With exceptional hashing performance and power efficiency, we are ready to put the power of high performance bitcoin mining back into the hands of bitcoin enthusiasts the world over." Most bitcoin ASICs are based on the 28nm process. But CoinTerra, which has been developing the 16nm SHIVA chip for the past nine months, says that the new 16nm node allows for a design that will deliver incredible power efficiency and a five fold increase in performance per watt. For customers who don't want to wait, the AIRE miner is now available for pre order.
A resolution reached in the European Parliament today "calls for the EU to consider excluding Russia from the Swift system," which stands for the Society for Worldwide Interbank Financial Telecommunication. The Swift financial transaction system provides the infrastructure for bank to bank operations across 10,000 financial organizations in 210 countries. Swift immediately responded with a statement calling the resolution discriminatory and in violation of their company's fundamental rights. Nevertheless, this resolution echoes the same sentiments expressed by the British government last month, which encouraged Russia to begin looking for alternatives that would make them less dependent on the Swift system, as well as Western sanctions and the US dollar. It has been suggested that the possible alternatives Russia is considering include digital currency, but as of yet, there has been no solid proof of that.
Leading Bitcoin payments processor BitPay announced the launch of their new cryptographically secure API today, which most notably features the ability to implement refunds. Users can now initiate refund requests from within their applications which are payable to any bitcoin address not just those with a BitPay account. In similar news, fellow leading bitcoin company Coinbase has released their new API toolkit called Toshi which allows bitcoin app developers to build free, hosted bitcoin web applications and businesses or as CEO Brian Armstrong puts it, "[Toshi] essentially gives away the technology behind Chain, BlockCypher, etc for free."
Bitcoin wallet services provider Coinkite has announced the launch of their own public Obelisk server, providing the community with another full bitcoin node and data server that the company feels are severely lacking. The choice of the Obelisk system for this new blockchain data provider has struck some as a bit odd, given its limited functionality compared to Bitcoin Core and its more difficult interface. Nevertheless, Coinkite feels the benefits of Obelisk's open source nature outweigh the drawbacks, calling it "the bees knees" and saying, "the bitcoin network is stronger if we can use open source code for infrastructure."
It's time to smoke it up with bitcoin. Canadian medical marijuana dispensary Mega Chill has become the first of its kind to accept bitcoin as payment notably using its own digital wallet rather than a payment processor and the community is reacting positively towards the decision. As Mega Chill co owner Matt Jung says, "It's been really good for our patients. One girl who comes in gets paid in bitcoin, so it's perfect for her." Jung went on to explain that he feels bitcoin is extremely easy to use, stating "It eliminates a lot of the complications of dealing with the banks and dealing with the credit card companies."
published: 23 Sep 2014
updated: 23 Sep 2014
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