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Is There An Asic For Ethereum

Why Bitmain's Ethereum Asics Will Never Replace Gpus | Cryptoslate

Why Bitmain's Ethereum Asics Will Never Replace Gpus | Cryptoslate

Rumors have surfaced that Bitmain has developed an Ethereum ASIC miner capable of tanking the Ethereum mining market. Bitmain is one of the industrys largest suppliers of Bitcoin ASICs. Furthermore, the company operates the most substantial cryptocurrency mining operation in the world . Bitmain has practically cornered the Bitcoin mining market with its Antminer S9, one of the most cost-effective Bitcoin miners. On March 26th, Susquehanna Financials Christopher Rolland confirmed that Bitmain had developed an ASIC chip to mine Ethereum, and subsequently downgraded stock ratings on chip designers Nvidia and AMD. Rolland said in a note to clients last Monday: we confirmed that Bitmain has already developed an ASIC for mining Ethereum, and is readying the supply chain for shipments in 2Q18, To add to the worrying news, Bitmain may not be the only vendor developing ASICs according to Rolland, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development. In a proof-of-work system, a cryptocurrency is supported by computers all over the world through a process called mining. These computers perform computations that solve a sophisticated algorithm and add transactions to the blockchain ledger. The more decentralized the network, the more secure from malicious attack. There are two types of computer chips that are profitable for mining: ASICs(application-specific integrated circuits) Nvidias 1080 Ti Graphics Card, a popular mining GPU GPUs are a type of computer hardware initially designed for rendering graphics in electronic devices such as computers and mobile phones. The highly parallel structure of GPUs also makes them highly efficient at processing large blocks of data in parallel, making GPUs ideal for cryptocurrency m Continue reading >>

New Ethereum Asics Could Help Reduce The Mining Demand For Graphics Cards

New Ethereum Asics Could Help Reduce The Mining Demand For Graphics Cards

New Ethereum ASICs could help reduce the mining demand for graphics cards This may not be strictly gaming related, but in what is sure to please gamers hoping to upgrade to a new graphics card, Bitmain has announced pre-orders for its upcoming Antminer E3 . The new ASIC will target the Ethash / DaggerHashimoto algorithm, currently used by Ethereum, Ethereumclassic, Ubiq, Piri, and several other cryptocurrencies. Prior to the arrival of the E3 ASIC, Ethereum has been one of the favorite mining targets for GPU miners, with droves of AMD and Nvidia GPUs working in the mines. The improvements in efficiency and performance from E3 should put a stop to thatthough other algorithms like Equihash, Neoscrypt, and more remain. The Antminer E3 targets a conservative 180MH/s for Ethash, at 800W, and a pre-order price of $800 (limit of one per customer for the first batch). By comparison, GPUs like the Vega 64 can do around 40MH/z and use 250W, and cost close to $1,000 each right now. Even at the original MSRP, you'd need to spend $2,000 for four Vega cards to come close to the performance of a single Antminer E3, and you'd still end up drawing several hundred watts more power. Bitmain has an estimated shipping date of 16-31 July, which suggests the company already has early samples back and is working to ramp up production now. As an interesting footnote, Bitmain reportedly has been ordering 20,000 wafers per month from TSMC for its Bitcoin-focused Antminer S9. That's more wafers than Nvidia orders per month, if that number is correct, and the E3 will likely increase that number. I don't recommend getting too excited, however: at 180MH/s and 800W, using current difficulty calculations, you would only net about $4 per day. That's 200 days to break even, best-case, though the long-te Continue reading >>

The First Ethereum Asic Just Launched, With A Major Caveat

The First Ethereum Asic Just Launched, With A Major Caveat

The First Ethereum ASIC Just Launched, With a Major Caveat The First Ethereum ASIC Just Launched, With a Major Caveat By Joel Hruska on April 4, 2018 at 10:02 am This site may earn affiliate commissions from the links on this page. Terms of use . Ever since the cryptocurrency market heated up again, the video card market has been terrible. Consumers who wanted to buy a GPU have been stuck choosing between paying a 1.5x 2x cost premium over standard MSRP or simply going without. Investors have been jittery about the end of the boom; AMD and Nvidia stock both took a hit when even rumors of an ASIC from Bitmain that could be used to mine cryptocurrencies might be headed to market. Now that same ASIC is supposedly ready for prime time but theres a major caveat attached. To dig into how an ASIC works in this context, we first need to note that the way this topic is framed is often rather messy. A GPU is an ASIC. Its an application-specific integrated circuit for handling games and 3D applications, or at least it used to be. Over the last decade, GPUs have steadily become more programmable and flexible; Nvidias work on CUDA has led to GPUs being used for workloads and in areas that were once the exclusive domain of CPUs, including oil and gas research, computational fluid dynamics, self-driving vehicles, AI and machine learning, and other HPC applications. A GPU is still an ASIC, but its a programmable, flexible ASIC. Equally important, its an ASIC that spends a significant amount of logic and power on features that arent needed in a device dedicated to hashing cryptocurrency. Historically, the appearance of dedicated mining ASICs has meant the end of GPU mining, simply because theres no way for AMD or Nvidia to compete with the potential hash performance of a dedicated circ Continue reading >>

Will Asic Miners Destroy The Ethereum Ecosystem?

Will Asic Miners Destroy The Ethereum Ecosystem?

Will ASIC Miners Destroy The Ethereum Ecosystem? By Rakesh Sharma | April 27, 2018 9:06 AM EDT The introduction of ASIC mining rigs has always sparked controversy in cryptocurrency communities. For example, bitcoins members blame the rigs for centralizing mining operations. Similarly, the founder of Siacoin is concerned about introduction of the rigs for his crypto. Now ethereum, the worlds second-most valuable cryptocurrency, is grappling with the same problem. (See also: How To Mine EthereumOn Your Computer ). Bitmain, the China-based mining giant, recently introduced ASIC rigs for ethereums blockchain. But the news has hardly received a warm response from ethereums community. Instead, it has kickstarted an intense debate in the community about the merits and demerits of allowing ASIC miners into ethereums ecosystem. The discussion has important implications for the cryptocurrencys future. How ASIC Mining Rigs Affect Ethereums Ecosystem ASIC mining rigs bring a slew of benefits and disadvantages to a cryptocurrencys ecosystem. For example, they bring economies of scale to operations because they are relatively inexpensive and more efficient (as compared to GPU rigs) at processing hash functions. In turn, this translates to higher profit margins for miners. But mining efficiency comes at the cost of decentralization. As the experience with bitcoin has shown, ASIC rigs's affordabilityis an incentive for entrepreneurs to set up large mining farms that offerthe capability to control the future developmentof cryptocurrencies. (See also: BitmainAnnounces Plans For Hard Fork ). The bitcoin cash fork, which was made possible only with support from the mining community, is a case in point. Ethereumunderwenta fork earlier after the DAO hack. Now some are arguing for another fo Continue reading >>

Ethereum Asics Are Here: What The New Miners Mean And What's Next

Ethereum Asics Are Here: What The New Miners Mean And What's Next

Ethereum ASICs Are Here: What the New Miners Mean and What's Next Apr 3, 2018 at 22:04 UTC|UpdatedApr 5, 2018 at 07:03 UTC That's the question circulating Tuesday in the wake of news that Bitmain, the China-based maker of hardware specialized for cryptocurrency software, had developed a new "ASIC" mining chip designed specifically to process ethereum transactions and claim the protocol's rewards. Bitmain confirmed the release of its Antminer E3 chips, which will retail for $800, in a tweet that broke what had been weeks of speculation that it would soon launch such a product, one that ran counter to statements from company officials to CoinDesk even hours before. Still, for ethereum's developers and users, the news wasn't exactly a surprise - it had long been theorized, even in creator Vitalik Buterin's earliest blog posts, that no algorithm for managing mining rewards would remain immune to ASICs forever. Over time, Buterin's argument was that innovations would prevail, try as developers might to keep their code optimized for general-purpose computers. Yet, ethereum developers have been quietly building defenses for this future, long promoting design choices intended to protect the blockchain against hardware meant to consolidate rewards in the hands of companies or individuals capable of operating at scale. As such, some have even gone so far as to propose further changes following the day's news. Such a step, a radical reworking of the software to render the new hardware unusable, might seem extreme if that weren't becoming the norm among cryptocurrencies. Already, monero and siacoin, two smaller cryptocurrencies, are taking steps to propose a change to its software that would effectively block efforts by Bitmain to grow its business there. As for the impact on ethe Continue reading >>

Ethereum Mining In The Era Of Asics

Ethereum Mining In The Era Of Asics

Ethereum mining may be reaching the end of its life The Ethereum network has been growing steadily and hashrate and difficulty on the network have blossomed over the last few months as mining has expanded and more entrepreneurs get in on the action. Both metrics have just about doubled since the beginning of 2018 (which makes sense, as they are designed to closely track each other) though some attribute the speedy increase to the secret introduction of ASIC miners by Bitmain before officially releasing the technology for sale. Weve seen a decline in both hashrate and difficulty over the last month, possibly as a result of the developers plans to move away from Proof-of-Work, possibly as a result of criticisms that Ethereum has been receiving from those who believe younger, more full-featured dapp platforms may give the incumbent a run for its money. Whatever the cause, the landscape of Ethereum mining has certainly changed and if youre thinking about starting an operation, there are considerations to make. ASIC mining hardware is getting a lot of press these days. Some claim that the introduction of the specialized hardware serves to centralize mining by benefitting large operations over normal users. Others argue that ASIC development has always been an inevitable and natural progression of mining technology. Until recently, ASIC mining wasnt something the Ethereum community had to deal with, though it was definitely something theyd considered. However, in early April, Bitmain, the largest producer of ASIC hardware, released the Antminer E3 Ethereum mining ASIC. Though they are limiting the sales of the new miner by number and geography, its only a matter of time before the Ethereum ASIC is widespread. Ethereum creator Vitalik Buterin has been vocal about the eventual Continue reading >>

Asic Miner For Ethereum... Why Not ?

Asic Miner For Ethereum... Why Not ?

Okay so I have read about ethereum's asic resistance... it's designed to be profitable with GPU's and they dont want asics to "destroy" that like it happened with bitcoin and scrypt miners. But I don't understand why it wouldn't be profitable? I understand that the Ethash algorithm needs lots of memory and that'S not cheap. But why hasn't a company just produced them in bulk for a lower price and made it profitable ?! Like I see it, the current best GPUs can mine 46 MH/s (Radeon R9). And they're still profitable. So what exactly is the problem with having a miner that has more hashing power, would the power consumption be too high? How high would the power consumption of something like this be, I mean bitcoin miners have incredibly high electricity cost as well, why is this so different? And another factor I read is that ethereum will switch to PoS "soon". And once they do that switch, an asics device specifically for ethereum would be unusable. I don't really understand the technical side of PoS and why that's the case, but let's just say this is true. How do we know when exactly ethereum will be switching to PoS? I have gotten the feeling that in the mining world, every announcement is always late. almost nobody meets their deadlines. I have read some forum posts of people saying they wanted to switch until the end of 2016, others say it may take another 3-4 years. Why so vague? I'm really just trying to understand why there's asic miners for like every major currency but not the one that's currently on the 2nd place of the market place. Its is at 2nd place because its ASIC resistant, which means trust, which means you mine and be sure that value is safe and you dont need to sell it, if ltc was ASIC resistant then its value would be around $50 and not $4. ASIC means Continue reading >>

7 Best Ethereum Mining Hardware Asics & Gpus 2017 / 2018 (comparison)

7 Best Ethereum Mining Hardware Asics & Gpus 2017 / 2018 (comparison)

Jordan Tuwiner Last updated July 13, 2017 Using an efficient Ethereum mining hardware will significantly reduce your electricity bills and cut down your costs. This article will help you learn more about the best Ethereum mining hardware. Note: Before you get hardware make sure you have Ethereum mining software, an Ether mining pool , and an Ethereum hardware wallet like the Ledger Nano S for secure storage of Ether. If you just want Ether then just buy Ethereum . Mining has a lot of setup costs and some technical knowledge is required. In order to mine Ethereum, you will need specialized hardware known as graphics processing unit (GPU). Ethereums developers originally intended for it to be mined on computer CPUs but miners later discovered that GPUs gave them more hashing power. So, in the most simplest of terms: a GPU is a specialized Ethereum mining computer. Some GPUs have a higher hash rate than others, while some use more electric power as well. In choosing the most efficient GPU the most important thing is striking a balance between how powerful you want your rig to be and how much you are willing to spend on the GPU itself and the electricity. Many of these costs will vary by country. Is it cheap to buy GPUs in your country? Since most GPUs are sold on Amazon and eBay, if you live in a country where those retailers ship to then you will likely have an easier time getting the GPUs. Also, what is the cost of electricity in your country? Electricity costs are the deciding factor for most miners. As we have seen with Bitcoin mining , miners in China, Iceland, and other places with cheap electricity have a huge advantage! Now that you understand the factors that make GPU rigs good, here is a list and brief description of the most efficient GPUs on sale. Note that th Continue reading >>

Ethereum Mining Devices Called Asics Are Selling Out And Causing Concern - Business Insider

Ethereum Mining Devices Called Asics Are Selling Out And Causing Concern - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our facebook linkedin twitter email copy link So far, the device of choice to mine the ethereum cryptocurrency has been the traditional computer graphics card. That could soon change when specialized devices commonly known as "ASICs" are introduced in July, which are much more efficient at mining cryptocurrencies than graphics cards. Currently, only one company called Bitmain is producing ASICs designed for mining ethereum. Each devices cost $2,150 and they're sold out at the time of writing. Developers behind the ethereum cryptocurrency are worried about the introduction of ASIC devices, according to a story on Bloomberg . ASICs "could have a negative impact on the Ethereum community and therefore on Ethereum price," said Sam Doctor, a managing director at Fundstrat Global Advisors who spoke with Bloomberg. Check out what ASICs are, and why ethereum developers are concerned: First of all, a quick recap of what cryptocurrency mining entails and why people do it. A small toy figure is seen on representations of the Bitcoin virtual currency in this illustration picture, December 26, 2017. When someone is mining for cryptocurrency, they're making their computers verify digital cryptocurrency transactions, like a ledger. Verifying these transactions involves solving incredibly complex mathematical problems. The problems are so complex that your computer is most likely just a small contributor towards solving the problem - it's a mere "node" among several other nodes. Every computer that's verifying cryptocurrency transaction is part of the ledger, which helps make cryptocurrencies become decentralized com Continue reading >>

Vitalik Buterin: Ethash Asics Not A Threat To Ethereum

Vitalik Buterin: Ethash Asics Not A Threat To Ethereum

Vitalik Buterin: Ethash ASICs Not a Threat to Ethereum Share on Facebook Share on Twitter Share on Telegram Share on LinkedIn Following the release of the Bitmain E3 Ethereum ASIC miner, core developers are faced with a hard choice: Hard fork Ethereum to combat ASICs or focus development on Casper proof-of-stake which would eliminate mining . The release of Bitmains E3 Ethereum ASIC has caused many in the community to voice outrage. How could Ethereum, a supposedly ASIC-resistant algorithm, fall prey to such hardware? On April 6th, 2018, the core Ethereum developers held a meeting discussing whether it is necessary to hard fork Ethereum.According to Ethereum Improvement Proposal (EIP) 958 , such a move could thwart ASIC development long enough to implement Casper. What the Core Devs Think About the Community According to the core Ethereum development team, the community is split into three groups regarding ASICs: (1) those who think its actually a security risk and theyre not entirely sure how, (2) people who think we should do nothing, and (3) people who are very emotional and say down with Bitmain and down with ASICs. I dont know where that [sentiment] comes from, but I think its a crossover from the Bitcoin community. Overview of Ethereum Improvement Proposal 958 The high-level picture of EIP 958 is this: [whether] we should do something to break them [the ASICs] or whether we should sit back and just keep focusing on the things that will permanently fix this. The developers saythat the extent of the ASIC threat is not clear. The majority of developers on the team voiced concerns that they dont have enough information on the matter. Forking Ethereum to change the protocol is a shot-in-the-dark solution to the problem and may not hinder current ASICs. Most developers Continue reading >>

How Bitmain Will Ruin Ethereum Miners: Performance Analysis Of The E3 Asic

How Bitmain Will Ruin Ethereum Miners: Performance Analysis Of The E3 Asic

How Bitmain Will Ruin Ethereum Miners: Performance Analysis of the E3 ASIC Earlier this month, rumors emerged that Bitmain was secretly developing a powerful Ethereum ASIC . This ASIC was rumored to have higher performance and power efficiency when compared to existing hardware on the market. The rumor has been confirmed Bitmain unveiled the E3 on April 3rd, and the Ethereum community and miners have reason to worry. The safety of the Ethereum network is at stake. As significant players like Bitmain corner the market, its possible for the company as a single actor to control a plurality of mining power in the network. The more centralized the network, the more vulnerable to malicious actors and 51% attacks. Bitmain claims that the E3 has the following stats: How does this compare to other conventional GPUs? Analysis of the E3 Compared to Other Hardware Based on data from whattomine.com , here are the stats for some common mining GPUs: Performance data based on whattomine.com; GPU prices collected by averaging the three lowest-priced listings on Newegg.com The RX570, RX580, Vega 56, and Vega 64 are AMD cards, while the 1070TI, 1080, and 1080Ti are Nvidia cards. Note that AMD cards are considered to be more effective at solving the Ethash algorithm, while Nvidia cards are better at solving another commonly used algorithm, Equihash. Based on these numbers, an E3 is roughly as powerful as six RX570s. Analysis of Electricity Consumption and Cost First, watts per MH/s. This number represents the number of watts it takes to produce a single MH/s of mining power. The RX570 and 1080Ti both outperform the E3 by a slim margin. That being said, Bitmain has claimed that: These are the conservative estimates. We expect the miners to deliver higher performance and efficiency when the Continue reading >>

Ethereum Asic Miner Could Be A Gamer-changer

Ethereum Asic Miner Could Be A Gamer-changer

Ethereum ASIC Miner Could Be A Gamer-Changer Ethereum ASIC Miner Could Be A Gamer-Changer Gamers are over the moon... crypto enthusiasts are under the weather. What's the deal? An Ethereum ASIC miner could be your worst nightmare, or your best friend depending on your interest in technology. Talk to a gamer about your intent to mine cryptocurrency, and you may get a dirty look. Talk to an Ethereum fanatic about ASIC rigs and you might get an even dirtier one. The news that Bitmain has reportedly developed a specialist ASIC miner for Ethash may have been a contributing factor in the recent plunge in Ethereums price, to well under $500 at the time of writing. Ever since Bitcoin skyrocketed in price at the end of 2017 (bringing every other cryptocurrency on the ride with it), PC gamers have been suffering. Graphics cards are the cornerstone of a competent PC gaming build, but GPUs (the processors on high-end graphics cards) are also used for mining many cryptocurrencies. The price hike spurred a run on graphics cards , and manufacturers like Nvidia and AMD experienced a supply shortage. That shortage (known in gaming circles as the Great Graphics Card Shortage of 2018 ), caused cards to double in price. It was certainly a boon to Nvidias stock price , and online retailers like Amazon and Newegg started bundling components to profit from the high demand . This battle spurred a new industry, and hardware manufacturers (especially those in Asia) started creating more sophisticated crypto mining rigs. FPGA and ASIC machines are being created by more and more companies at prices that rival traditional desktop PCs. ASIC machines are specifically programmed by the manufacturer to perform only one specific task. They can only be configured to mine cryptocurrencies that use the sa Continue reading >>

Ethereum Falls After Rumors Of A Powerful Mining Chip Surface

Ethereum Falls After Rumors Of A Powerful Mining Chip Surface

Rumors of a new ASIC mining rig from Bitmain have driven Ethereum prices well below their one-week high of $585. An ASIC or Application-specific integrated circuit in the cryptocurrency world is a chip that designers create for the specific purpose of mining a single currency. Early Bitcoin ASICs, for example, drove adoption up and then, in some eyes, centralized Bitcoin mining in a few hands, thereby thwarting the decentralized ethos of die-hard cryptocurrency fans. According to a CNBC report, analyst Christopher Rolland visited China where heunearthed rumors of a new ASIC chip dedicated to Ethereum mining. During our travels through Asia last week, we confirmed that Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18, analyst Christopher Rolland wrote in a note to clients Monday. While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development. Historically users have mined Ethereum using GPUs which, in turn, led to the unavailability of GPUs for gaming and graphics. However, an ASIC would change the mining equation entirely, resulting in a certain amount of centralization as big players including Bitmain created higher barrier to entry for casual miners. Ethereum is of the most profitable coins available for GPU mining, said Mikhail Avady, founder of TryMining.com . Its going to affect a lot of the market. Without understanding the hash power of these Bitmain machines we cant tell if it will make GPUs obsolete or not. It can be seen as an attack on the network. Its a centralizat Continue reading >>

5 Reasons Why The New Ethereum Asic Miner Is (probably) Worthless

5 Reasons Why The New Ethereum Asic Miner Is (probably) Worthless

5 reasons why the new Ethereum ASIC miner is (probably) worthless The expected returns from the $800 Bitmain E3 Ethash ASIC miner are less than zero. ASIC mining has taken over bitcoin and consolidated its hashing power into just a handful of different pools and companies. It's a fate that most other coins would rather avoid, to avoid potentially dangerous centralisation of their networks while also ensuring that mining is at least somewhat viable for individuals. Ethereum has long-resisted ASIC mining, so Bitmain's announcement of the world's first Ethash Ethereum ASIC miner, the Bitmain Antminer E3, is making waves. It aims to deliver a hash rate of 180 Megahash on Ethereum's EthHash, making it about 6 times faster than the Nvidia Geforce 1080 which tends to do about 30 Megahashes. With a similar price to the Geforce 1080, it might look like a steal. Unfortunately, anyone brave enough to pick one up will almost certainly end up losing money. Dont miss out! Daily cryptocurrency news digest and 24/7 breaking news alerts delivered to your inbox. I agree to the Finder Terms and Conditions and Privacy Policy and to receive emails from Finder The first reason is that even in perfect conditions you're still looking at a very unexciting ROI. According to NiceHash, WhatToMine and CryptoCompare, the miner will earn about US$5.50 per day on EthHash. Let's generously round that up to $6 and then very generously assume you're not paying anything at all for electricity. Let's also generously assume you're the only person in the world who bought one, so there's no increase in Ethereum mining competitiveness. In an impossibly best case scenario you're looking at 133 days to break even. But while Bitmain will happily take your money today, the gear won't be shipping until 16-31 July. Continue reading >>

$800 Ethereum Asic Miner Could Help Curb Graphics Card Price Hikes | Digital Trends

$800 Ethereum Asic Miner Could Help Curb Graphics Card Price Hikes | Digital Trends

Posted on April 4, 2018 - 9:38AM 4.4.18 - 9:38AM Bitmain has announced a new dedicated mining rig slated for release in a few months time, which has the potential to upturn the existing Ether mining market. If it turns out to be as powerful andefficient as Bitmain claims, it could well help combat the still ongoing problem of sky-high graphics card prices . Bitmain is the worlds leading manufacturer of mining hardware for Bitcoin and a number of other altcoins. Its application specific integrated circuit (ASIC) miners typically offer much greater performance per watt than general-purpose hardware, and that could well be the case with its new E3 miner . Although its not slated to release until July, by the numbers, it would be as powerful and more efficient than multi-GPU rigs. The Antminer E3 is said to deliver a hashrate of 180 mega hash per second with a power consumption of 800w. Bitmain claims that these numbers are conservative for now and expect them to be greater when the miners debut later this year. In comparison, a stock clocked RX 580 produces 25MH/s for 175w. Although multiple-GPU mining rigs tend to have various clock and power-draw tweaks to make them more efficient, they still arent likely to hit the same levels as the Antminer E3. At least in theory. The price tag could be the killer part of this equation though. At $800, the E3 miner is about as expensive as just one pair of RX 580 graphics cards, or three GTX 1060s. You arent getting anywhere near the same sort of hash rate for that sort of money with consumer graphics cards. The response to this new hardware announcement has been mixed. While Bitmain has restricted purchases to five per customer to ward off scalpers, there has been a wave of negative comments on the original Facebook announcement pos Continue reading >>

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