Deep Talk -The Challenges and Opportunities in HNS mining
Great news! DxPool&Goldshell jointly launched an AMA in DxPool community on July 9 2020. Ken, founder of Goldshell, was invited to share his ideas and thoughts in the theme of ” The Challenges and Opportunities in HNS mining”. The following is the review of this AMA session
Host Han: Hi everybody! I want to give you guys a warm welcome for joining the HNS Deep Talk. Also it is my honor to invite Ken, the founder of Goldshell to this event! Welcome Ken!
Ken: Greetings, Han! And Hello everybody! My name is Ken. I am from Shanghai and I am the founder of Goldshell. Thank you for inviting me to join HNS Deep Talk event. I am very happy and excited to be here!
Host Han: Hi Ken, glad you could be here. Could you please give us a brief introduction about yourself first?
Ken: Thank you Han! Well, my name is Ken and I have been working in the semiconductor industries as an engineer since 2005. We have massive production experiences in semiconductor industries that more than hundreds of millions of microprocessors have been manufactured are designed by our team. I decided to start Goldshell in the end of 2017,and I am hoping my previous experiences would do some little help here to Goldshell in this explosively growing market. Since our team has focused on consumer electronics market,I have learned a lot from this market. For example, a type of microprocessor that we have designed could be sold at 1 USD per chip in the year of 2011, however because the competition is so fierce, the newest generation of that kind of microprocessor could only be sold at price at 0.3USD per chip at 2014. However the competition actually is the power that kept driving us develop new technologies in our microprocessors. I could be quite frank here, even if that type of microprocessor’s price is only 0.3USD, the profit is still not bad at all. And this is a very good example that how new technologies will affect and reshape the semiconductor industries. Today we are confident that this will happen again in the crypto currency industry.
Host Han: Thank you Ken, I have to say that I am really impressed by your story. Could you also give us some introduction about Goldshell?
Ken: Definitely, Goldshell ‘s vision is that we believe technologies could change the world and it is the most valuable asset nowadays . I am also willing to share how the name Goldshell comes from. Actually Goldshell is composed by gold and shell, and these two things are the oldest currency in history. We hope our brand could be remembered for a long time. That is the reason why we choose Goldshell as our brand.
Host Han: Awesome! Now i know what Goldshell means and i have to say that it is very interesting. So Ken, could you also introduce us some information about the projects that Goldhshell has done?
Ken: Absolutely Han. It is my pleasure. Goldshell started our research in litecoin mining processor at the end of 2017 when we were just founded. And we issued out our first litecoin miner X5 in the middle of 2018. And it has the lowest power-consumption/hashrate ratio among all of the litecoin miners on the market at that time. With the successful experience that X5 brought to us, we gained more confidence and continuously developed the next three generation of litecoin miners X5S, X6 and X6S in two years. While Goldshell is focusing on litecoin SoC and ASIC miners, we also have accumulated some experiences in other algorithms like SHA256, CryptoNight serious and Blake serious. Basically Goldshell are capable to deliver the whole solution package to nearly all of the Non-memory consumption algorithms POW cryptocurrency in the market.
Host Han: Wow, now i definitely know what Goldshell has done! Those are really cool projects! Well can I ask you how do you think of HNS Ken?
Ken: To be honest, our team and I personally all think handshake(HNS) is a very good block chain project. As we could search from many technical articles, Handshake is a decentralized domain name system integrated with registration, authentication, transaction and resolution function. The founders of handshake project are all big names in block chain industry: Joseph Poon, founder of bitcoin lightning network, Andrew Lee, CEO of Purse and Christopher Jeffrey, CTO of Purse. The project also was invested by Sequoia Capital and other VCs. Handshake project also have an excellent business model. The system was equipped with deflation model, once a domain auction was completed , the tokens used in this auction will be destroyed. The handshake project has totally destroyed more than 6 million tokens so far.
And all of the HNS which are participated in the auction will be locked automatically. The totally locked HNS is growing up pretty fast as you can see in the following chart.
Goldshell believe that no matter from the perspective of develop team, business model and the future prospect, we are pretty confident in handshake project.
Host Han: After I heard Ken’s analysis, I would say it is very impressive. So could you also share your opinion about the future of HNS and is it worth for investors to invest?
Ken: Thank you Han. I am glad to share my opinion here. Well I think HNS is definitely a good project to invest and I’d like to talk more about it from three aspects: When is the proper opportunity to invest, the inflation rate and the rising of the whole network hashrate. I am going to demonstrate them separately:
- Since the first HNS block was mined on Feb 2020, so now is definitely the earliest stage of HNS. As long as HNS project develop in normal speed, the early investors will have a much bigger chance in this project. So i would say now is a good opportunity to invest in HNS.
- The inflation rate of HNS could also be easily calculated. The total circulation volume of HNS is 300 million, and everyday generation is 288k HNS, plus it destroys 20k HNS per day, so the inflation rate a year is 32%。 This inflation rate is very high in normal economic field, however it is extremely low in the POW crypto currency projects. The reason behind this is that HNS has air dropped many tokens to FOSS developers on github, we also believe with such a vision, HNS team will have a big chance to lead this project for a big boost in the future, so the decrease of the HNS tokens is very limited.
- The whole network hashrate of HNS is rising rapidly. As far as I know, many ASIC miner design companies have already invested a huge amount of money in this project. This is a direct proof that investors are having a very optimistic attitude about HNS project’s future. And I am pretty sure those companies have done market research in detail, because nobody dare to take such a big risk without doing so. However these investment will finally benefit the HNS ecosystem. So after all it is a good thing to the whole HNS community.
From the above analysis, we think the future of Handshake project is very bright.
Host Han: Thank you Ken for your detailed analysis. After learned from your analysis, I think now I have a better understanding in HNS project. Since HS1 and HS3 will be on sale soon. Could you also introduce these two miners to us?
Ken: Thank you Han, yep and it is also my pleasure to introduce HS1 and HS3 here. HS1 is a portable ASIC miner which is very rare to see in the professional ASIC miner market. It has 50GH/s hashrate in such a small body. It is also equipped with a very quite fan with full running noise only within 34db. The HS1’s price is also very attractive. With only 129$, normal crypto enthusiasts could have a chance to really own a professional ASIC miner. Beside the price, Goldshell also has opened the microprocessor communication protocol to public so more FOSS developers could join Goldshell to develop the software for the HS1 community. This will also make the community grow bigger. Also I highly suggest HNS fans to participate in buying some domains with the tokens they got from mining. It will bring up such a huge fun and self achievement feeling. As to HS3, it is totally a different story. It is super powerful and the hashrate reached up to crazily high 2TH/s with power consumption at 2kw. If HS1 is like a little beast, then HS3 is definitely a monster. HS3 is the result of the technologies what Goldshell have accumulated in the past several years. Its structure abandoned the traditional long air-way tunnel with two fans on each side design, instead it adopted the newly mainstream short air-way tunnel with two fans on the same side design. This helps the miner to have a better cooling system. Together with the our software and hardware solution, HS3 will have powerful and durable performance when delivered to our customers.
Host Han: Nice Ken! It seems like Goldshell really have a good strategy and lots of confidence in your HS1 and HS3. Last but not least, could you share what is Goldshell’s goal and focus in the future?
Ken: Sure Han. I think Goldshell has to prepare for fullest to the competition in the future. The crypto currency market is full of innovations and technologies. It is a big challenge but also very exciting. Goldshell will keep focusing on the new technologies and wish we could bring more good block chain projects to the public.
Host Han: Thank you Ken, you have shared a lot in this AMA session and I do thank you for that. As to our dear audiences for today’s event. I do thank you for joining the event too! Here I have prepared 4 HS1 as a gift. Anybody who scanned the QR code on the event post will have a chance to win one of these free HS1. Good luck everybody!
The AMA session is now officially ended I hope everybody would have a good day!