Blockstream launches mining facilities with Fidelity and LinkedIn founder as clients

2019-8-10 14:32

Bitcoin development company Blockstream unveiled a new mining facility and mining pool aimed at enterprises, with the Fidelity Center for Applied Technology and LinkedIn founder Reid Hoffman being named as two of the service’s first clients.

Announced Thursday by the Canada-based firm, the mining operation is capable of a hefty 300 megawatts output spread between two facilities in Quebec, Canada, and Georgia, U.S.A. If it were running at its full capacity—6 exashes of mining power, according to Forbes—Blockstream’s mining would have accounted for nearly 9 percent of the Bitcoin network hashrate on Aug. 8.

Decentralizing mining

The new service has been slated as “colocation” for mining—not “hosting”.  As such, Blockstream will install and maintain customers’ own mining equipment in the two locations, while purportedly allowing the devices to be operated remotely by clients and controlled “with complete transparency.”

The colocation play comes as an apparent effort by Blockstream to decentralize Bitcoin mining and de-risk the network from a 51% attack, an event that in recent years may have come dangerously close to occuring with Bitmain and other conglomerate pools at times mining more than 40 percent of all blocks. There is still some evidence suggesting that Chinese miners control a dangerously large percent of the mining hash rate, but a recent ban on crypto mining in China may have changed that.

Power to the miners

Doubling down on this effort, Blockstream has also raised the curtain on its own mining pool utilizing a new, supposedly more decentralized, protocol created by longtime Bitcoin developer and Blockstream co-founder Matt Corrallo.

The “BetterHash” protocol purportedly allows individual miners to control which transactions are included into new blocks as opposed to being determined by a centralized pool operator who may use the hashrate maliciously, according to Blockstream CSO Samson Mow.

At first only Blockstream Mining customers will be able to access the pool, however, which has apparently been running on a testnet for a year.

For now Blockstream Mining is intended strictly for “institutional and enterprise customers” and Blockstream’s own mining operations, but will in the future be made available for smaller clients, the company said.

The post Blockstream launches mining facilities with Fidelity and LinkedIn founder as clients appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Speed Mining Service (SMS) íà Currencies.ru

$ 1.9622 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $1.9622 - H: $1.9622
Êàïèòàëèçàöèÿ $205.406k Rank 99999
Äîñòóïíî / Âñåãî 104.68k SMS

mining founder blockstream linkedin clients fidelity facilities

mining founder → Ðåçóëüòàòîâ: 73


Ôîòî:

Cryptocurrency Mining Firm Founder Swindles $35 Million of Investor Funds after Citing Low Profitability and Rising Expenses

The founder of a Vietnamese cryptocurrency firm has allegedly fled after swindling investors to the tune of millions, as reported by VNExpress on July 29, 2018. Millions Stolen Investors and board members of the Ho Chi Minh City-based mining company, Sky Mining, are claiming to be victims of a fraud case after the company’s founder, Le Minh Tam, went missing.

2018-7-31 09:00


Ôîòî:

Cryptocurrency Mining Firm Founder Swindles $35 Million of Investor Funds After Citing Low Profitability and Rising Expenses

The founder of a Vietnamese cryptocurrency firm has allegedly fled after swindling investors to the tune of millions, as reported by VNExpress on July 29, 2018. Millions Stolen Investors and board members of the Ho Chi Minh City-based mining company, Sky Mining, are claiming to be victims of a fraud case after the company’s founder, Le Minh Tam, went missing.

2018-7-31 09:00


Ôîòî:

PoWx Seeks to Change Bitcoin Mining with “Optical PoW”

Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that utilizes a more advanced and energy-efficient form of laser technology as the cornerstone of mining.

2018-7-14 01:04


Ôîòî:

‘Intense’ Bitmain Lobbying Forcing Smaller Bitcoin Miners Out of Quebec

A month after authorities in Quebec lifted a moratorium on allowing Bitcoin miners, local businesses have begun threatening to leave suspecting unfair policies. ‘Very Saddened’ In a series of tweets June 28, D-Central founder Jonathan Bertrand claimed that due to conflicting interests and agendas at government level, as well as an “intense lobbying effort” from the world’s largest mining corporation Bitmain, had left smaller participants “completely stunned.

2018-7-4 17:00


NBA Group Mines Ethereum

MBA team mines Ethereum Mining The Sacramento Kings are now mining Ethereum, the team announced on Wednesday. Also read: Coinbase Founder Launches Cryptocurrency Fueled Charity ‘Givecrypto’ Tech-Savvy MBA Team Enters the Crypto Space The American basketball team the Sacramento Kings reportedly started mining ether three weeks ago using Nvidia mining rigs. The owner of the NBA

2018-6-29 12:14


Crypto Mining Mogul Hits the Big-time with Portable Mining Containers

Serial crypto entrepreneur Valery Vavilov of Bitfury has struck gold again with his latest venture by solving two of the main hurdles in mining cryptocurrency with some big black boxes. Bitfury Founder makes Crypto Mining Operations Portable The BlackBoxes which are sea containers that have been converted into giant, portable mining rigs hold one hundred.

2018-6-21 15:00


Ôîòî:

Neu-Ner: Bitcoin Not At Bottom (But Still a Great Long-Term Buy)

Bitcoin is going down, and one prominent cryptocurrency analyst believes it’s still got a ways to go. Nevertheless, the upside potential — in the grand scheme of things — is still massive. ‘We May See a Very Different Game in Mining’ Ran Neu-Ner, founder and CEO of Onchain Capital and host of CNBC Africa’s “Crypto Trader,” believes Bitcoin has not found its bottom.

2018-6-13 14:00