Twelve Ships Announces Listing of Upbit KRW Market

Place/Date: Korea - August 22nd, 2019 at 4:37 pm UTC · 2 min read
Contact: 12Ships, Source: Twelve Ships

  • Building a sound mining ecosystem based on the development of in-house mining equipment
  • First listing on Upbit, Korea’s largest cryptocurrency exchange, recognized for its business value

Twelve Ships, a project to build an eco-friendly, high-performance machine-based mining ecosystem, will be listed on Upbit, the largest cryptocurrency exchange in Korea, through the KRW and BTC trading pairs.

Twelve ships is developing their own 11-nano process ASIC-based high-performance mining machine called ‘Panokseon II’ for the first time in the industry to solve problems regarding supply and demand of mining equipment, establish a sound mining ecosystem, and at the same time develop their own mining pool called ‘Hansando’. According to 12 ships, Panokseon 2, which is currently being developed, can produce hash power that is about 30 times higher than Bitmain’s S9 and NEXEL (Samsung’s application processor supplier). 

12Ships aims to build a blockchain network based on their own mining machines and expand the platform with e-commerce-based “Olenature” to provide real-world benefits to users. 

The 12Ships main team members come from Samsung, NCSOFT, and Kakao, and have recently attracted strategic investment from Crypto funds GBIC and FBG Capital. The project is also working closely with global consulting firm, Block72, and tokenization platform, STP networks. 

Min Young-hoon, CSO of 12 ships, said:

“We are very happy to announce the start of building various mining industries and ecosystems prepared by 12 ships through the initial listing of Upbit.”