Bitmain Antminer E3 is not a threat – Vitalik Buterin

Ethereum founder Vitalik Buterin has weighed in on the threat of ASIC hardware designed to mine Ethereum.

In an Ethereum core developers meeting, Buterin said the supposed threat did not warrant an immediate reaction or expedited implementation of the proof-of-stake model.

Bitmain recently launched its Antminer E3, which was developed to mine Ethereum using its Ethash algorithm.

Buterin said he built the algorithm to be ASIC-resistant and speculated that Bitmain’s E3 miner was essentially a heavily-optimised GPU mining rig.

The community should rather focus on the Casper proof-of-stake consensus mechanism, however, which will eventually make mining obsolete on the blockchain.

“This is not Bitcoin, the miners are not in control here,” said Buterin.

“If there comes a day where Bitmain has majority hash power and tries to use it for evil, then we will speed up Casper development and to hell with any remaining bugs.”

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Bitmain Antminer E3 is not a threat – Vitalik Buterin