A new type of prototype for Bitcoin has been designed. It’s going to be used as an ASIC chip for further processes to bring the newly designed mining rig to the market. This was designed to fast-track the process and open source the rig to the market in the crypto industry. ‘Block’ has taken up the responsibility to bring change in the market.
Block is owned by Jack Dorsey. Jack Dorsey is the former CEO of Twitter. They have been working on it for the last few years.
Block Has Finished Creating Nano Bitcoin For Mining
Jack Dorsey owns Block. Block is a technology company that also provides financial services. It has recently announced that it has completed creating a nano chip of nearly 5 nanometers for BTC.
It is likely to release the pressure from one single mining to several mining rigs. BTC will eventually have less pressure on it and provide services faster.
The block has posted an update on its blog mentioning how challenging it has been. Bringing BTC ASIC rigs into the market. It has affected them both financially and technically.
Its results have affected both companies who use this or bought this for future purposes.
Block seems to close all the paths for the betterment of both. The companies and the Bitcoin network itself.
Whereas, san francisco headquarters have released a statement of Bitcoin technology as ‘ open source’. It would make it easier for the market’s ecosystem. They have thought of innovating and maximizing the size would be greatly effective for the mining ecosystem.
All these initiatives have been taken over the last few months to bring more nano and affordable Bitcoin chips to the market.
Block also announced they have brought a large batch of ASIC chips from Intel.