On September 21-23, World Digital Mining Summit took place in Tbilisi, Georgia. It was one of the most exciting industry gatherings in the digital mining world of this year. The 3-day learning summit organized by BitKan and Bitmain, engaged over 30 speakers, 50 mining companies, and 1000 attendees from various industries: miners, mining machine manufacturers, mining pools, hashrate owners, and representatives of the blockchain industry. Hacken could not miss such an enlightening event and headed to Tbilisi to exchange for leading insights on industry development and future transformation.
MC Emilia was opening the summit with a vibrant speech about the history of Bitmain and BitKan. She thanked the Georgian government for supporting the summit and didn’t forget to mention the place of Georgia in the development of cryptocurrency mining world.
Besides, there were other prominent speeches given by the industry leaders: Roger Ver (head of Bitcoin.com), Jihan Wu (CEO of Bitmain), Yu Fang (CEO of the platform for cryptocurrency investors and traders — Bitkan), Jason Juan (Head of Mining Pool BTC.com), Marco Streng (head of Genesis Mining), Martha Jan (co-founder of Dex.top), Olsen Su (Head of Bitmain Development), Sean Wolsch (CEO of Hyper Block).
The attendees of the World Digital Mining Summit were lucky to be the first to welcome new hardware chip from Bitmain. Jihan Wu unveiled the BM1391 7nm ASIC chip. The BM1391 is Bitmain’s next-generation 7nm chip. The chip will include over a billion transistors, and lab testing has demonstrated a power efficiency to be as low as 42 J/TH. The chip promises to be the best performing and highly efficient mining chip, based on ever-finer processes that are a driving force of semiconductor innovation.
Many attendees traveled long distances just to see what’s going on in the small but crypto-friendly country. One of such guests was Roger Ver —head of BCH, a hard fork of BTC. Hacken’s VP of Marketing, Hleb Myrko, got acquainted with Mr. Ver and talked about an important aspect of cryptocurrency — cybersecurity.
“Cybersecurity is probably one of the biggest problems in cryptocurrency nowadays. I suppose, around a billion of dollars has been stolen already! In order for crypto to mature, we have to imply better security practices. Because every week hack seems like a huge problem. Moreover, people need to pay attention to security before they are hacked not after”, Roger Ver mentioned. “Around 30 engineers are looking for security flaws in BCH code. We employed outsource company to protect us”.
Hacken always says that employing outsource professionals is the right practice as it’s the best way to reveal vulnerabilities that in-house specialists may skip. An independent safety assessment is a must. It is worthwhile at least to conduct pentest of applications and infrastructure, perhaps socio-technical testing of the developer’s team, and ideally — use the bug bounty and vulnerability reward platform.
Hacken thanks the organizers of the event — BitKan and Bitmain— for the great opportunity to learn insights of the mining industry, listen to the speeches of prominent leaders, and meet influential people.
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