We created Obelisk to ensure more secure, more future-proof networks for cryptocurrencies like Decred and 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 switch to another coin. With ASICs, incentives are better aligned – miners cannot switch, which means they care more about the success of the coin.
Obelisk started as a project by the team behind Sia, a promising cryptocurrency project with a working product. Since then, we've assembled a team of dozens of skilled ASIC and electronics engineers with decades of experience, in addition to building out a dedicated Obelisk team.
Obelisk is building high-quality ASIC mining hardware for Decred and Siacoin. We look forward to shipping the first batch of Obelisk SC1 and DCR1 miners!
67 Batterymarch St, Floor 4
Boston, MA, 02110