American Billionaire and founder of Square, owners of twitter, Jack Dorsey, has taken to twitter to announce his plans to build a bitcoin mining system that would cater for everyone.
According to him,
“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. The more decentralized this is, the more resilient the Bitcoin network becomes.”
This system promises to improve accessibility of mining bitcoin to individuals, which will further promote the decentralization of bitcoin mining. Bitcoin mining centralization has been one of the major source of criticism of the cryptocurrency.
He continued by saying,
“Mining isn’t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn’t enough incentive today for individuals to overcome the complexity of running a miner for themselves.”
Square bought $170million more of Bitcoin in February of this year.