Fri. Jan 21st, 2022

Block Founder Jack Dorsey The company has officially announced on Twitter that it is developing an open bitcoin mining system. Dorsey first Announcement The digital payment provider, then known as Square, was considering working on the project before rebranding itself in October last year. If you think, Square is his change Blocking name To integrate its services and better represent the future of its business in cryptocurrency and blockchain technology.

Now, Templeton Thomas, the block’s hardware general manager, has revealed more details about the company’s initial discussions on the project. On Twitter, Thomas stated that the block’s goal is to “further distribute and make the mine more efficient in every way, from purchasing, installing, maintaining, and excavating.” For example, the block identifies the pain points and the technical challenges of the procedure, starting with availability, since rigs are difficult to find and and expensive. The block needs to find ways to make them more accessible in order to be able to fulfill its purpose.

The company also wants to create a reliable system that solves the usual problems of current rigs with heat dissipation and dust. Also, focus on maintaining the right balance between block performance and other factors, such as making sure the rig is efficient while having low power consumption. Thomas said the block is also considering which partners to consider for the project and has already begun building a core engineering team to work out solutions and answers to all of its questions.

Dorsey is a big believer in cryptocurrency and even once Says That he believes Bitcoin will one day replace the dollar. Block invested heavily in cryptocurrency and Spoken Contains 8,027 bitcoins, or about US $ 338 million, based on current value.

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