Block Firm Mining System

Block firm mining system now starts working. The Block firm of Jack Dorsey made a statement about starting its BTC mining system. The firm is now seeking to build its key team.

Block Firm Mining System

Block is a company of payments. The company’s former name was Square. Also, about its leader, Jack Dorsey, the founder of Twitter, leads the company. Now Block firm announced that it is constructing a system for mining Bitcoin cryptocurrency. In addition, it informed that it is working on hiring a team for it.

Regarding this, Dorsey tweeted on Thursday: “We’re officially building an open bitcoin mining system.”

In addition, Thomas Templeton, the general hardware manager for the Block firm, provided us with more details. He said that they have chosen to construct a system for BTC mining “out in the open & alongside the community.” Also, he mentioned they consider it following the first announcement in October. They have the thought and viewpoint that mining BTC goes over the simple mining of some coins. They believe that it is over than that, and it can ensure a future, which is decentralized and trustless. The Block firm mining system gets its stem from such a thought.

The firm intends to have a more distributed and profitable mining system to buy, settle, or keep the network than just actual mining, according to Templeton. The firm could find the issues listed below by talking about customers’ weak points and technical problems that mining community members have:

  • Availability: difficulties in finding mining rigs and existing high prices for work and delivery.
  • Reliability: issues that the system has now are all about heat distribution and dust. By the way, restarting is necessary work and takes so much time.
  • Performance: generating unnecessary harmonics by mining rigs within the power grid is too noisy for using those rigs at the home. Also, miners are seeking lower consumption of power and more hash rates.

Block Firm Solves Mining Issues

The Firm of Jack Dorsey began by assessing a variety of IP blocks to work on a solution for mentioned issues. The company stated that they are “open to making a new ASIC,” which is an open-source firmware for miners. It also wants to offer other system software applications as well.

Templeton wrote regarding the Block firm mining system: “We are interested in performance *and* open-source *and* our own elegant system integration ideas. Which tech and which partners should be on our list to consider.”

Keeping that in mind, the Block firm is now constructing a team for working on its new system. They are incubating their “investigation” in the hardware team of Block. Meanwhile, the company is starting to construct a key team of engineering for the system, ASIC, and software designers. It is worth mentioning that the BTC mining lead of the firm, Afshin Rezayee, is leading all the operations.

According to Templeton: “A few of the open roles are Electrical Engineers, Analog Designers, and Layout Engineers.”

Block firm seemingly intends to make mining BTC at home possible for every individual. By the way, we don’t exactly know what they are going to offer. Some commenters thought that it could consist of software in the first place than hardware or any mining pool.

However, the firm of Dorsey also verified in the previous year that it intends to construct the first hardware wallet for BTC in order “to make bitcoin custody more mainstream.”

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