in

Twitter founder, Jack Dorsey, to start mining bitcoin for crypto market

Twitter founder, Jack Dorsey, to start mining bitcoin for crypto market

Twitter founder, Jack Dorsey, is set to go into the business of mining bitcoin through its payment startup, Block, as the firm plans to make mining more accessible to interested individuals.

Dorsey had complained about the limited access to bitcoin mining in October, stating that mining was complex, and there wasn’t enough incentive for individuals to overcome the complexity.

His payment company, formerly known as Square, will now be providing mining essentials to bitcoin miners, according to Block’s general manager for hardware, Thomas Templeton.

Templeton made this known in a series of tweets on Thursday, stating that Block will be providing solution to the complexity from buying, to set up, to maintenance, to mining.

Block is prepared to build ASIC miner, a hardware used for mining digital currency, as Templeton said the current system used were besieged by various problems.

Read also: Bitcoin will replace dollar – Twitter’s Jack Dorsey says, as Cardi B questions crypto relevance

Templeton tweeted, “Common issues we’ve heard with current systems are around heat dissipation and dust. They also become non-functional almost every day, which requires a time-consuming reboot. We want to build something that just works.”

“They’re also very noisy, which makes them too loud for home use.” the general manager of the payment startup stated three months after Dorsey said, “Mining needs to be more distributed.” to increase access.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now



Source

Written by Admin

Nigerian Agency, NDLEA Grills Socialite Obi Cubana Over Alleged Drug Links To Malaysia, India

Nigerian Agency, NDLEA Grills Socialite Obi Cubana Over Alleged Drug Links To Malaysia, India

Jan. 6 committee subpoenas social networks after ‘inadequate’ responses

Jan. 6 committee subpoenas social networks after ‘inadequate’ responses