Jack Dorsey: Block the development of the Bitcoin mining machine! Main open space, personalized

In October last year, Jack Dorsey, CEO of American financial services company Square (later renamed Block), launched the Bitcoin mining system as a legal chip and it opens up space for human use. and commercial. he decided to do it. used worldwide. Three months later, the company was striving to make this dream a reality.

On the morning of the 14th (14), Jack Dorsey replied to a message from Thomas Templeton, President of Block Hardware, via Twitter, revealing that he was developing an open Bitcoin mining system.

According to Thomas Templeton, Block is developing low-cost, low-cost, quiet, and user-friendly bitcoin mining products for everyday consumers. Talking about security issues, he wrote that mining rigs are not working well almost every day, it takes time to restart. We want to do something that works.

Block said the company will not complete the project alone, is currently developing a team and recruiting machine and software engineers and ASIC mining technology experts, but still interested in performance and open source and our own elegant concept. system integration. .

Jack Dorsey previously said that this bitcoin mining system will be built using custom chips and an open source space for individuals and businesses around the world. This will follow the previous model for improving the portfolio: open community participation.

Why use custom chip designs? As Jack Dorsey said, "Chip production is abundant in a handful of companies, which means products will be very limited. Chip development is expensive, requires a lot of long-term investment, and works better with software and systems design companies working like this.

The boom in cryptocurrency mining in recent years has improved the performance of companies in mining and related industries, including TSMC, the world's largest smelter. Now, Jack Dorsey is preparing to step into the already crowded company, which is expected to bring more business opportunities to the miner chip industry.

Blocks are not just for Bitcoin mining. In November, Square released a white paper outlining its plans to create an exchange where users could trade bitcoin, fiat, or fiat. This week, payment app Cash App announced that it would begin joining the Bitcoin Lightning Network, allowing users to send bitcoins at lower rates.