Bitfury: fast and scalable blockchain and bitcoin solutions

Company logo of BitFury


BitFury was launched by Valery Nebesny and Valery Vavilov in 2012 to provide a fully integrated blockchain security and infrastructure solution. Between May 2014 and January 2017, the company attracted $90 million of total equity funding in four rounds. Lead investors include Bill Tai and Credit China FinTech holdings.

The San Francisco, California based company is developing software and hardware providing blockchain solutions to businesses, governments, organisations, and individuals wishing to move assets securely across the blockchain. The company offers proprietary hardware and software tools that perform secure private and public blockchain transactions.

Bitfury Group also develops code for Lightning, which is an overlay network that enables instantaneous micro transactions, with the Lightning Network enabling solution scalability.

The company intends to provide a Platform-as-a-Service solution, allowing corporates and governments to digitise any asset and transfer it to the public blockchain in a secure way. Another planned development is to provide a secure solution to retain the integrity of critical information in existing databases using blockchain technology.

The blockchain platform uses machine learning and data mining tools and can be implemented for intelligent address clustering, transaction risk scoring, disentangling bitcoin mixers, and other uses. Bitfury’s service offering also includes a PaaS for digital assets management: a blockchain-based framework to assure privacy, external auditing capability, and authentication.

The hardware solutions include a custom designed 16nm SHA256 ASIC that features 8162 hash cores on a single die. The BitFury 16nm ASIC efficiency rate is up to 0.06J/GH resulting in greater effectiveness compared to similar hardware products.
Another flagship product is BlockBox IC. This claims to be the first mobile bitcoin mining unit with the scale of a full data center, enabling easy access to the bitcoin network. This solution allows readily available purchase of bitcoin mining at petahash scale.

By Kiril V Kirilov

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