Twitter founder Jack Dorsey has invested in a newly developed mining pool project for Bitcoin.
From Mummolin, Inc., Jack Dorsey, Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, Bitcoin Opportunity Fund and several other investors Received $6.2 million seed investment.
The Wyoming-based company developed the OCEAN project “First of many projects to decentralize Bitcoin mining” defines it as.
“For Bitcoin to become a truly decentralized currency, the role of mining pools needs to change,” said Luke Dashjr, Bitcoin developer and Mummolin founder. he added:
“Traditional Bitcoin mining pools keep block rewards and transaction fees entirely before distributing them to miners. This allows them to rely on individual miners, whether due to personal preference or legal requirements. not paying offers the opportunity. OCEAN pays the block reward directly to miners without custody, eliminating this risk and the unnecessary influence pools have on miners.”
“I think this is the most notable new company announcement in the Bitcoin world in the last few years,” said Bob Burnett, CEO of Barefoot Mining, OCEAN’s first customer. said.
OCEAN was unveiled from Barefoot Mining’s 150-year-old hydroelectric dam in South Carolina, which has been completely repurposed for Bitcoin mining.