Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
Blockstream, the Canadian blockchain services company well known for its work on the Bitcoin Lightning Network, through the Liquid Network, has launched its own mining initiative that will allow many different institutions and enterprises to get into the industry. They have also launched, alongside it, a mining pool.
The idea behind this initiative is to open up a number of facilities across North America, and into Canada where they have ties to hydroelectric power. At these facilities, mining equipment will be set up in colocations, in purpose-built data centers designed to meet the needs of institutional and enterprise customers.
Blockstream claim their purpose in going down this avenue is to try and boost decentralisation on the Bitcoin network after, in 2017, it became worrisome that companies and pools in China were garnering a lot of the hashing power on the Bitcoin network.
THis venture will allow big companies and enterprises to break down the usually tough barriers to entry for Bitcoin mining, all the while decentralizing the network even more.
Blockstream are not taking this new venture lightly, they mention that there are a few facilities up and running - one in Georgia, USA, their latest. They have also been involved in Hydro Quebec, a hydroelectric energy source in Canada which will provide cheap, renewable, energy for the new mining company.
“We now have over 300MW of energy capacity secured (with more sites on the way). We also have a self-mining operation, which represents less than 1% of global hash rate, running on a combination of hardware from Bitfury, Ebang, MicroBT, and other manufacturers,” explained Blockstream in a release.
The mention of a small portion of self-mining is important because it appears that at full capacity, Blockstream would have enough power to run 10 percent of the Bitcoin network, which is in contrast with their call to be decentralized.
“I don’t believe Blockstream Mining poses centralization risks,” said Blockstream CSO Samson Mow. “If anything, Blockstream Mining serves to decentralize the Bitcoin mining ecosystem in many ways.
“We’re self-mining with just a small portion of our available power, with the rest allocated to customers, and we have plans to make the hosting service available to smaller miners that otherwise would not be able to mine effectively.”
Bitcoin's mining network has often been called centralized because of the massive amount of mining power coming from a few pools, and mining companies - especially those in control of the ASIC chips.
Now, Blockstream believes that if they can get more big customers to mine with them, the network will be more decentralized. They already have the Fidelity Center for Applied Technology and LinkedIn co-founder Reid Hoffman, interested.
“We began our Bitcoin mining operations back in 2017 motivated by widespread concern that mining decentralization was declining. At the time it appeared that parties involved in ASIC manufacture, hosting, and pool operations were becoming a centralizing force and holding back Bitcoin from reaching its full potential,” Blockstream said.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
Trending
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
DDB Miner Expands Cloud Mining Solutions, Offering Users a Path to Financial Freedom
1 day ago | Kim Sorgson
Ripple vs. SEC: Can XRP Finally Break Free?
4 days ago | Karrie Tan
The Dark Side of Meme Coins: What You Need to Know Before Investing
4 days ago | Laura Williams
Criminals’ New Cryptocurrency of Choice: Tether
4 days ago | John Smith
Tezos (XTZ) Review 2024: Everything You Need to Know Before Buying Tezos
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; backgrou...
Chromia (CHR) Review 2024: Everything You Need to Know Before Buying Chromia
Illuvium (ILV) Review 2024: Everything You Need to Know Before Buying Illuvium
My Neighbor Alice (ALICE) Review 2024: Everything You Need to Know Before Buying My Neighbor Alice
Star Atlas (ATLAS) Review 2024: Everything You Need to Know Before Buying Star Atlas
OQtima
Oqtima is an emerging online trading platform that offers a wide range of financial instruments, inc...
Saxo
Saxo Bank is a leading global online broker offering a wide range of financial instruments, includin...
FXCC
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; background-c...
Quadcode Markets
Quadcode Markets is an online brokerage offering a wide range of financial instruments, including fo...
Trading 212
Trading 212 is a popular online broker offering a range of financial products including stocks, ETFs...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Blockstream Announce Bitcoin Mining Initiative for Enterprises
Blockstream, the Canadian blockchain services company well known for its work on the Bitcoin...
CoinEx Review: Unveiling the Best of 2024's Top Cryptocurrency Exchange
...
Is GPU Mining a Thing of the Past?
Nvidia recently made some waves when they stated that they’re becoming much more interested in c...
Bitcoin Price Predictions for 2025: Can Optimism Keep Pushing the Market Forward?
.article-container...
Dogecoin Price Prediction For Next Year (DOGE)
Dogecoin prediction
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)