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Jack Dorsey Confirms Open Bitcoin Mining System for Everybody

Block Inc’s Jack Dorsey revealed that the company is creating an open Bitcoin mining system that will lower the entry barrier in Bitcoin. This new open Bitcoin mining system will be available for everybody, including new and small miners, thus making it easier for people to mine from their own couch.

As of now, due to the high costs that come with the Bitcoin mining hardware, the mining industry is mostly dominated by big players. Block is working on making this more decentralized which is why it even began hiring new people and creating a team.

The general manager for hardware at Block, Thompson Templeton, stated:

“We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining. We’re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless.”

The company wants to focus on three main goals: availability, reliability, and performance.

In order to do so, the company is working on “evaluating various IP blocks (since we’re open to making a new ASIC), open-source miner firmware, and other system software offerings.”

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