Blockchain

FoundationLogic Unveils Silent Home Miner at Mining Disrupt 2024

Singapore, Singapore, July 4th, 2024, Chainwire

The industry-leading brand of DOGE and Litecoin mining machines announced a new product line at the recent Mining Disrupt 2024 conference.

FoundationLogic, the fabless semiconductor design company behind high-performance ElphaPex Dogecoin (DOGE) + Litecoin (LTC) miners, took center stage at Mining Disrupt 2024 in Miami, Florida, held from 24-26 June. 

At the event, FoundationLogic unveiled its new product line for silent home miners.

Like the pro ElphaPex DG 1/DG 1+ models, the new device, dubbed ElphaPex DG Home 1, is powered by the Proof-of-Work (PoW) Scrypt algorithm, offering dual DOGE and LTC rewards. 

Designed for a new era of home mining, ElphaPex DG Home 1 promises silent, low-maintenance, yet performant DOGE + LTC mining ensured by water-cooling technology. 

Set to be released in Q4, 2024, the new model boasts a hashrate of 2000M, power of 620W and power efficiency of 0.31JM. Upon launch, ElphaPex DG Home 1 will be available for immediate purchase through the ElphaPex official website. 

ElphaPex DG Home 1 drew an immediate reaction from crypto mining insiders, with some of the industry’s major influencers sharing photos on social media as soon as the model was showcased. Specifically, they described the new water-cooled miner as “silent, powerful, and efficient”. 

“This new silent home miner embodies our commitment at ElphaPex to be everyone’s miner partner, regardless of the scale of operations” said Ben Weng, VP of Product at FoundationLogic. “We were pleased by the enthusiastic response we saw at the conference, as many visitors wanted to get one on the spot. Luckily, it won’t be long before everyone can start dual mining DOGE and Litecoin from the comfort of their homes”.

“ElphaPex products have achieved a remarkable milestone in the DOGE & Litecoin mining chip industry and we’re excited to launch this new product into mass production” said Charles Song, Executive VP at Samsung Foundry. “I believe this is just the beginning of a very bright future for ElphaPex”.

In addition to launching its newest product, FoundationLogic made a strong impression at the event, drawing attention from industry insiders and influential figures.

As the main sponsor of Mining Disrupt 2024, the Scrypt mining hardware company hosted the official opening party and operated one of the event’s busiest booths, featuring engaging activities and giveaways.

Another standout at the conference was FoundationLogic’s keynote presentation.

During the keynote, the company’s representatives emphasized their commitment to advancing Scrypt mining, highlighting its growing potential for miners. This is particularly significant in light of bitcoin’s recent halving, which has posed challenges across the industry due to reduced rewards. They also pointed out several key advantages of Scrypt hardware over SHA-256 hardware, including better cash flow, ROI, and equipment lifecycle.

Another highlight of the presentation was the success of the ElphaPex DG 1+, an ASIC miner launched earlier this year at Blockchain Life 2024 in Dubai. As FoundationLogic’s flagship model, it has set a new standard in the market and continues to dominate the Scrypt mining sector with a hashrate of 14000M, power of 3920W and efficiency of 0.28JM.

Considering recent price trends and the increasing availability of reliable Scrypt mining hardware provided by FoundationLogic, leveraging DOGE’s meme advantage alongside LTC’s solid track record may offer a strategy for mining operations this year.

About FoundationLogic

FoundationLogic is a Singapore-based fabless semiconductor design company dedicated to revolutionizing the cryptocurrency mining industry. With a focus on innovation and reliability, FoundationLogic utilizes state-of-the-art ASIC chips designed in-house and subjects its products to rigorous field testing. Through its flagship ElphaPex series, FoundationLogic empowers mining enthusiasts and professionals with cutting-edge, accessible machines, setting new standards for efficiency and performance in the field. For more information, users can visit elphapex.com

X: https://x.com/ElphaPex

LinkedIn: https://www.linkedin.com/company/100958166

Contact

VP of Product
Ben Weng
[email protected]

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Global Cybersecurity for Critical Infrastructure in Financial Sector Research Report 2024-2030: Cost of Cyber Incidents Pushes Financial Firms to Strengthen Security Protocols

2024-09-30T10:49:39Z

Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Cybersecurity for Critical Infrastructure in Financial Sector Market (2024 Edition): Market Size, Trends, Opportunities and Forecast, by Industry Sector, Deployment, Component Region, By Country: 2020-2030" report has been added to ResearchAndMarkets.com's offering.

Cybersecurity for Critical Infrastructure in Financial Sector Market registered market value of around USD 9.9 Billion in 2023 is expected to grow at a CAGR of 7.2% during 2025-2030.

The cybersecurity market for critical infrastructure in the financial sector is driven by a myriad of factors, each contributing to the increasing complexity and urgency of deploying robust security measures. Primarily, the escalating frequency and sophistication of cyber threats stand as the foremost driver. Financial institutions are prime targets for cybercriminals due to the vast amounts of money and valuable data they hold. Attacks such as data breaches, ransomware, and phishing have become more sophisticated, prompting banks, investment firms, and insurance companies to continually evolve their cybersecurity defenses.

Moreover, the regulatory environment significantly influences market dynamics. Global financial entities such as the Financial Stability Board (FSB) and national regulators like the Federal Reserve in the United States, the European Central Bank in Europe, and similar bodies worldwide have tightened cybersecurity regulations and guidelines. Compliance with these regulations is not merely a legal formality; it is imperative for maintaining consumer trust and operational integrity. For example, regulations such as the General Data Protection Regulation (GDPR) in Europe and the New York State Department of Financial Services (NYDFS) cybersecurity regulations in the U.S. have set stringent standards for data protection and security, driving the adoption of advanced cybersecurity solutions.

The integration of technology into financial services, commonly referred to as 'fintech,' is another critical driver. As banks and financial institutions leverage technologies like blockchain, artificial intelligence (AI), and cloud computing to enhance efficiency and customer service, they also increase their vulnerability to cyber-attacks. This technological adoption creates a paradox where the very tools that enhance capability also expose institutions to greater risks, necessitating advanced cybersecurity measures.

Another significant driver is the cost implications of cyber incidents. Financial implications include direct costs such as recovery and remediation costs, and indirect costs like reputational damage and loss of customer trust, which can be even more detrimental in the long term. The potential financial losses resulting from cyber incidents can dwarf the investment in cybersecurity, making a compelling case for proactive expenditure in this area.

Furthermore, the shift towards digital and remote operations, accelerated by the COVID-19 pandemic, has expanded the attack surface for many financial institutions. The increased adoption of remote work models and reliance on digital channels for customer interactions have exposed new vulnerabilities, such as insecure home networks and the use of personal devices for work-related activities. This shift necessitates a reevaluation and often a redesign of cybersecurity strategies to cover endpoints and secure data across more dispersed networks.

Segment Insights

By Deployment, On-Premise accounts for around 66% share in the year 2023. The enduring preference for on-premise cybersecurity solutions in the financial sector is driven primarily by the need for control and security. Financial institutions, particularly those with extensive legacy systems and stringent regulatory requirements, often find on-premise solutions more feasible as they offer greater control over the security environment. This control is crucial not only for managing the complex and sensitive nature of financial data but also for complying with strict data residency and privacy laws that govern the sector.

Geographical Insights

Americas is the largest region in the Global Cybersecurity for Critical Infrastructure in Financial Sector Market. One of the most significant drivers in the Americas' cybersecurity market is the increasing incidence and sophistication of cyberattacks. Financial institutions are inherently attractive targets due to their financial assets and the sensitive financial data they manage. In recent years, cybercriminals have demonstrated increased capabilities with attacks becoming more diverse and sophisticated, including ransomware, phishing, and Advanced Persistent Threats (APTs).

This threat landscape mandates continuous enhancements in cybersecurity defenses, which drives significant investment in the sector. Regulatory compliance is another crucial driver. In the Americas, particularly in the United States and Canada, regulatory bodies have established stringent cybersecurity frameworks that financial institutions must comply with. In the U.S., frameworks such as the Cybersecurity Maturity Model Certification (CMMC) and guidelines from the Federal Financial Institutions Examination Council (FFIEC) set the bar for cybersecurity practices.

Similarly, in Canada, the Office of the Superintendent of Financial Institutions (OSFI) mandates cybersecurity compliance to safeguard the financial system. These regulations ensure that cybersecurity is not just about risk management but is also a compliance necessity, pushing financial institutions to allocate substantial resources to meet these standards.

Global Cybersecurity for Critical Infrastructure in Financial Sector Market : Historic and Forecast

Impact Analysis of Macro Economic Factors on Market

  • Global Prevalence of Cybersecurity for Critical Infrastructure in Financial Sector (% of overall cybersecurity)
  • Cybersecurity for Critical Infrastructure in Financial Sector Matrix
  • Market: Dashboard
  • Market: Market Size and CAGR, By Value, 2020-2030 (USD Billion & CAGR)
  • Market: Market Size and CAGR, By Volume, 2020-2030 (Number of Software Installations) & CAGR)
  • Market: Market Value Assessment
  • Assessment of Degree of Impact of COVID-19 on Market

Market Segmentation: By Industry Sector

  • Market By Industry Sector Overview
  • Market Attractiveness Index, By Industry Sector (2025-2030)
  • Market Size, By Banking, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Financial Services, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Insurance, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Fintech Companies , By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Other Industry Sectors, By Value, 2020H-2030F (USD Billion & CAGR)

Market Segmentation: By Component

  • Market By Component Overview
  • Market Attractiveness Index, By Component (2025-2030)
  • Market Size, By Solutions, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Services, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Software, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Other Components, By Value, 2020H-2030F (USD Billion & CAGR)

Market Segmentation: By Deployment

  • Market By Deployment Overview
  • Market Attractiveness Index, By Deployment (2025-2030)
  • Market Size, By On-Premise, By Value, 2020H-2030F (USD Billion & CAGR)
  • Market Size, By Cloud, By Value, 2020H-2030F (USD Billion & CAGR)

Key Companies

  • Okta Inc.
  • Wipro Inc.
  • Infosys Limited
  • Rapid7
  • Zscaler
  • Broadcom Inc.
  • Accenture
  • Tata Consultancy Services (TCS)
  • HCL Technologies
  • L&T Technology Services Limited (LTTS)

For more information about this report visit https://www.researchandmarkets.com/r/7pg448

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