Jack Dorsey’s Block is working to make Bitcoin mining easier

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Jack Dorsey, the CEO of Block, has announced that the company is working on a mining system for the virtual currency. The general manager for hardware at Block outlined the company's goals for the system, which is to be easy to use, reliable, performant, and power efficient.

The goal is to make mining more efficient and to make the network more resistant. The network has become centralized on too small a group of miners, as the value of the coin has increased, and it is more difficult to mine without economies of scale. A long-term need for a future without permission is what makes mining more decentral. The plans could be controversial because of how energy intensive mining is.

We want to make mining more efficient in every way, from buying to set up to maintenance. We are interested in mining because it goes far beyond creating new coins. It is a long-term need for a future that is completely free of permission.
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January 13, 2022.

Block is open to building its ownASIC, but that the team will also include software designers. The aim is to build a high performance integrated system. In the past, he has said that he sees value in a mining system that is vertically integrated across hardware and software, and that he wants it to be as easy as plugging a rig into a power source.

In July of last year, Block announced it was building a hardware wallet with the aim of makingBitcoin custody more mainstream. Square previously allowed its customers to buy and sell currency. His bio on the social networking site continues to simply be "#Bitcoin", as he has long been an avid supporter of the virtual currency. He wants Block to build a mining system for the virtual currency in October.