Jack Dorsey's Payment Business Block Announced in Bitcoin Mining System Development

Announced, on the morning of January 14 Beijing time, payment firm Jack Dorsey Block (formerly Square) announced that it would begin trading Bitcoin mining.

Dorsey then confirmed the news on Twitter. "We are developing an open Bitcoin mining system."

Block Hardware chairman Thomas Templeton posted the company's next plans in several tweets.

Templeton says the goal is to make Bitcoin mining more decentralized and efficient in all areas "including buying, setting up, managing, and mining." Bitcoin mining refers to the process of creating new bitcoins by solving complex calculations.

Templeton said it sees cuts in mining processes as a long-term need for full-fledged consolidation and future licensing, rather than creating new bitcoin.

Dorsey said in October when the idea started to emerge. The more decentralized it is, the greater the strength of the Bitcoin network.

To get to this point, the company is tackling key entry issues. Minors are not only difficult to obtain, they are expensive and deadlines are unpredictable. Block said it was open to ASIC platforms, systems specifically designed for Bitcoin mining.

The project will be developed by Block's hardware team, which initially developed the core engineering team, ASIC, and software developed by Afshin Rezayee.

Speaking of hardware, Dorsey previously tweeted that the company had decided to "develop a custom chip based Bitcoin mining system." Dorsey continues to express her passion for vertical and horizontal integration. I think this industry has focused on a lot of companies.

Templeton writes that Block also wants to improve security and the exploration experience for users.

"Heat and dust are a common problem with older systems," Templeton tweeted. "The problem happens almost every day and it takes a long time to restart. I want to create something that works. The sound of this machine. It sounds, so I used it in house." . "

The freedom to mine Bitcoin is one of the key tasks of the project.

"Not everyone can hurt me," Dorsey said in October.

The United States now has many sources of renewable energy. Washington State, for example, is the Mecca of hydroelectric farming. New York State, east of the Rocky Mountains, is first on the list of potential water sources, and its nuclear power plant is still heading towards its goal of 100% carbon-free power. . At the same time, the share of renewables in Texas has increased and since 2019, 20% of Texas electricity comes from wind. Texas Grid continues to expand its wind and solar power facilities.

Texas has also repealed the rules for its power grid, using real-time location tariffs that allow users to choose their own power. It is important to note that heads of state support the use of cryptocurrency technology. It is an attractive place for minors looking for a pleasant and affordable environment.