Billionaire Jack Dorsey Leads Funding Round to Decentralize Bitcoin Mining
Billionaire and Block co-founder, Jack Dorsey, is spearheading a new funding round aimed at decentralizing the Bitcoin (BTC) mining ecosystem. The $6.2 million seed funding round supports the launch of Mummolin’s decentralized BTC mining protocol, OCEAN.
OCEAN: Solving Centralization Issues in Bitcoin Mining
OCEAN is a permissionless, non-custodial, and transparent BTC mining protocol developed to address the increasing centralization of Bitcoin mining pools. According to Dorsey, this project aligns with his vision of preserving Bitcoin’s key attributes while benefiting himself and his companies.
Returning Miners to the Forefront
OCEAN founder Luke Dashjr, a prominent figure in the Bitcoin community, states that the protocol will enable miners to once again receive block rewards directly from BTC. As the most transparent and non-custodial pool available, OCEAN aims to empower miners and promote decentralization in the mining ecosystem.
Hot Take: Jack Dorsey’s Support for Decentralized Bitcoin Mining
Jack Dorsey’s involvement in the funding round for OCEAN demonstrates his commitment to addressing centralization issues in Bitcoin mining. By supporting projects like OCEAN, Dorsey aims to preserve the decentralized nature of Bitcoin and ensure that miners can directly benefit from their efforts. This move marks an important step towards a more inclusive and decentralized future for BTC mining.
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