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Jack Dorsey Wants to Build an Open-source Bitcoin Mining System

Hassan Mehmood

ByHassan Mehmood

Oct 23, 2021

Jack Dorsey, the CEO of Twitter, is known for his undulated interest and affection for the crypto industry, specifically Bitcoin, as he has often said that if he wasn’t managing the operations at Twitter, then he will definitely be doing something with Bitcoin or taking it up as a full-time job. But being the CEO of Twitter doesn’t stop Jack Dorsey from indulging in his own interests regarding Bitcoin and crypto. That is why Jack Dorsey has made up his mind to develop an open-source Bitcoin mining system that will be able to improve the overall process of Bitcoin mining and will help in further decentralizing the bitcoin network.

Jack Dorsey recently founded Square, which is a FinServe company working in cross bounds with the crypto space. Currently, Square is working on developing a system that will be able to determine the various requirements for the sake of building an open-source Bitcoin mining system. Jack Dorsey has recently come out on Twitter to share the approach that Square is taking with the designing and implementation of a Bitcoin mining system; he said that the mining system would be based on custom silicone and completely open-source to which every individual and business out there could reach out when necessary.

Square will Build Open-source Mining System for Bitcoin

He believes that the more decentralized this system is, the better it will be for the Bitcoin network specifically because the efficiency and resilience of the decentralized finance depend on the essence of it all, which is decentralization. Not only does Square wants to come out with this very resilient open-source Bitcoin mining system, but it wants to do right by it using green energy.

So in a way, it is a three-punch deal; well, you have got the software that is going to be open-source, the environment which is only going to get more efficient, which is Bitcoin blockchain, and the energy that is going to power it all is going to be green. Who knows how much time it would take to develop and then deploy this system, but Jack is definitely going to do his best in all of this.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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