As humans, we cannot afford to be rigid in the way we function. If we do so, we run a major risk of falling behind the times and miss out on an awful lot. The world has learned this lesson time and time again, and a starkly similar iteration of that came to the fore when technology entered our lives. While technology might have been uniquely placed in what it had to offer, its unprecedented nature also incited some doubt among the population. Some individuals, however, were able to get through the blip quicker than others, and that really the tone for years to come. Now, even once technology’s revolution was fully up and running, we had to make some tough choices regarding how we shape the whole experience, but honestly, no choice was as controversial as deciding upon our course of action within the cryptocurrency sphere. Cryptocurrency’s opaque and somewhat questionable nature has dominated conversations right from the start. In fact, the concept still continues to divide everyone, except the whole hullabaloo is apparently landing on deaf ears, as we see more and more people buying into the digital currency. For further scaling up the buzz, another player is now throwing its hat in the ring, and it happens to be a familiar name.
Digital payments company, Block, formerly known as Square, has officially revealed plans to build a dedicated system for bitcoin miners. According to some details, the company’s unique selling point for the new venture revolves around making the mining process achieve wider accessibility, while also putting a fair effort towards bolstering the efficiency element. In a more practical sense, Block will solve the accessibility issue by producing new ASIC, which is a specialized gear used during the mining process. Up until now, the scant availability of mining rigs has thrown a spanner in the works for many aspiring bitcoin miners out there, thus enhancing the reach and roping in a higher reliability should help Block gain a strong presence in the crypto market moving forward.
“We’re interested because mining goes far beyond creating new Bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless,” said Thomas Templeton, general manager of Block.
Block’s founder, Jack Dorsey has held a longstanding interest in cryptocurrency. His ambition to make bitcoin mining “as easy as plugging a rig into a power source” hints of a future where digital currency can actually achieve mainstream stature among the millennials.