We created Obelisk to ensure a more secure, future-proof Sia network. Obelisk is the first ever ASIC miner for Siacoin.
Most cryptocurrencies rely on GPU mining, which is inherently less secure than ASICs. Countless numbers of GPUs exist throughout the world in large Ethereum mining farms, corporate settings, government facilities, and more. A large number of GPUs can 51% attack smaller cryptocurrencies, leading to serious security issues.
Moreover, most GPU mining pools automatically switch to the most profitable coin, which means miner incentives are not aligned with that of users. If a coin drops in value, miners simply swith to another coin. With ASICs, incentives are better aligned – miners cannot switch, which means they care more about the success of the coin.
Obelisk will produce high-quality, highly profitable ASIC mining hardware for Siacoin. We've hired skilled ASIC and electronics designers with decades of experience. We are the team behind Sia, which we've grown from scratch into one of the most promising cryptocurrency projects, and one of the only with a working product.
We look forward to delivering Obelisk SC1 miners by June of 2018!
280 Congress St, Floor 12
Boston, MA, 02210