October 1, 2022

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Now the founder of Twitter will make Bitcoin mining more efficient

Now the founder of Twitter will make Bitcoin mining more efficient

In October, Jack Dorsey announced through his new company Block that they had plans to improve bitcoin mining.

It will create an open system

Now he announces on Twitter, the platform he founded, that work to simplify bitcoin has begun. They have put together a team of engineers and are at a point where they are considering potential partners that they can bring to the project.

The work will be in the form of developing an open system for bitcoin mining. According to their hardware manager, Templeton Thomas, this means that drilling is more distributed and more efficient along the entire chain – from the procurement process to setting up the systems, keeping the systems the same and the drilling itself. The ban addresses issues typically associated with bitcoin and other cryptocurrencies.

Therefore, some work begins with the creation of a solid system that demonstrates the standard problems that arise when creating a “mining rig” – especially problems with temperature and dust.

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He owns billions of bitcoins

The Twitter founder who founded Block has now shown a long time ago that he has great faith in Bitcoin. He has also gone so far as to say that Bitcoin will one day replace the dollar, with significant investments in the cryptocurrency. Engadget wrote that the block holds 8,027 bitcoins, which is the equivalent of three billion kroner.

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