block founder and CEO Jack Dorsey for this platform Bitcoin mining system announced its plans. “We are officially establishing an open Bitcoin mining system,” Dorsey tweeted on the subject. said. Before square The company, which is known as Block and changed its name to Block, first reported that it was considering this project in October.
Thomas Templeton, General Manager of Block Hardware. twitterThe aim of the project will be to make the mining of Bitcoin, the largest cryptocurrency by market capitalization, both more decentralized and more efficient.
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How will Block’s Bitcoin mining system work?
Bitcoin is a proof-of-work (Proof-of-work) for miners to verify transactions.PoW) works on the model. Although this process, which requires a lot of energy and computing power, is not cheap, even computer-only systems can become very costly.
He told the Templeton mining community; He stated that Block will address a number of technical challenges, including high price, reliability and power consumption.
“For most people, mining gear is hard to find. Even after you manage to keep up with (the technology), they are expensive and delivery can be unpredictable. How can we ensure that anyone, anywhere, can easily purchase a mining rig? We just want to build something that works. What do we need to simplify to make this a reality?”
After the statements of Thomas Templeton, the founder of the platform, Jack Dorsey, shared the following statement with his followers: “We are officially establishing an open Bitcoin mining system.”
Templeton asked Block to consider these questions. hardware engineers and software designers team He said he created it. It should be noted that this announcement is not surprising. After all, Dorsey is a big fan of Bitcoin and is a frequent tweeter of cryptocurrencies.
“Mining is not accessible to everyone,” Dorsey said in October. However Bitcoin miningshould be as easy as plugging a rig into a power source.” he tweeted.