Block: Jack Dorsey’s project to easily mine gold

Block: Jack Dorsey's project to easily mine Bitcoin

After stepping down as CEO of Twitter, Jack Dorsey can devote himself full-time to his other company. Square, a well-known online payment company, changed its name in December last year to Block.

Like Facebook, which has become Meta (for its metaverse), the Block company will focus on cryptocurrency and blockchain. Dorsey’s goal is to make mining easier to access and more profitable while addressing issues of hardware availability and reliability.

Simple as plugging in a plug

According to the CEO, the current mining system is not sufficiently incentive given the complexity of setting up and managing a mining unit (implied for an average person who has no computer knowledge) and should be as simple as plugging a computer into a power outlet.

Block has therefore decided to embark on the creation of a bitcoin mining system based in particular on a new type of silicon specially designed for this activity. The goal is to make mining “more distributed and efficient in every way, from purchase to operation to set-up and maintenance”.

A necessity for a future decentralized economy not subject to different countries according to Thomas Templeton, general manager of equipment. The company has not yet communicated any timetable, but given Jack Dorsey’s enthusiasm for cryptocurrency, there is no doubt that this is one of Block’s priorities.

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Source : engadget

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