Jack Dorsey’s Block has completed an open-source bitcoin mining ASIC prototype.
We have an update on our mining initiative. This one is about ASICshttps://t.co/bJOM9YNxfl
— Thomas Templeton (@TempletonThomas) April 28, 2023
According to the statement, through the development, the company seeks to reduce the centralization of mining and related equipment in order to “optimize innovation and expand the ecosystem” of cryptocurrency mining.
“Most of the ASIC chips on the market today are manufactured using 5nm technology. It was on this aspect that we focused our initial efforts,” the company said.
As part of the project, Block purchased a batch of ASIC chips from Intel. In April, the tech giant announced the cessation of sales of the Blockscale line of miners.
The decisions made over the past few months will allow the firm to “experiment with new designs” and help it bring to market more “efficient and affordable mining equipment.”
Back in 2021, the ex-head of Twitter proposed the creation of a universal and environmentally friendly system for mining open source cryptocurrencies.
In March 2023, Block announced a “bitcoin mining developer kit” that includes several tools for customization.
Recall that in the same month, Dorsey announced the launch of a division for the development of the ecosystem of the Lightning Network micropayment network. The project received a capacious name – with =.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!