Asic Jungle has launched a beta model of what it calls “the first-ever mining {hardware} market” for cryptocurrency mining {hardware}. The corporat
Asic Jungle has launched a beta model of what it calls “the first-ever mining {hardware} market” for cryptocurrency mining {hardware}. The corporate’s CEO Artem Bespaloff advised Cointelegraph that he has created a trusted platform for second-hand mining tools that operates with none middlemen:
“[It’s] the primary and solely on-line market the place patrons can work together straight with sellers by means of the platform and never have to make use of any brokerage providers or Telegram channels (I name them ‘sketchy’ Telegram channels) as a result of all types of issues go on there. And we determined to create this ecosystem the place patrons and sellers deal collectively between themselves.”
The corporate’s resolution to those issues is a two-sided market that connects ASIC patrons and sellers in a safe and clear atmosphere. In line with Bespaloff, ASIC brokers presently cost excessive premiums which can be benefiting from the market’s lack of worth discovery mechanisms. He believes that these brokers create data asymmetry by withholding pertinent data.
Bespaloff mentioned that Asic Jungle upholds numerous security measures to make sure that transactions occur in a trusted atmosphere, together with an emphasis on AML compliance. Because the Canada-based firm shall be serving prospects from everywhere in the world, they intend to conform with each native legal guidelines and rules and the compliance legal guidelines of america.
Though mining tools turns into progressively much less environment friendly with the passage of time, Bespaloff assured that there’s loads of demand for second-hand tools in locations with very low-cost or free power sources, like some areas in Canada and Venezuela — although the residents of the latter could also be excluded from participation in an effort to adjust to U.S. sanctions.
Each Bitcoin and Ethereum (ETH) have lately skilled record-setting hashrate will increase, indicating there shall be no lack of curiosity in mining tools within the close to future.