"We want to make the mining more distributed and more efficient in every respect, from buying to furnishings and maintenance to mining. We are interested because mining goes far beyond the creation of new bitcoins.
block-filling bitcoin mining niche
He also explained the plans of block that were developed from the challenges with which the mining community was confronted. The feedback from miners highlights the availability of mining rigs as the first pain point in the industry. The gadgets are difficult to get, expensive when they are tracked down, and their delivery system is faulty.
The reliability of the mining rigs was the second problem. Here Templeton underlines problems with heat and dust management. Mining hardware requires cooling mechanisms such as vacuum fans to prevent a reduction in performance, overheating and the resulting damage. In addition, the equipment requires installations such as window grids and blinds to reduce the collection of dust and prevent an air backflow. Miners have also reported that Rigs no longer work and waste valuable time during restart.
The third concern, templeton tweets, affects the power in terms of power consumption and noise pollution. Noise makes most of these devices unsuitable for home use, he adds. These comments match some of the mining -related electricity problems reported in several countries.
Iran, for example, had to impose a three-month ban due to far-reaching power failures. Miners in the country have to work with a license and at the same time pay additional tariffs for their high energy consumption. But even then the country regularly interrupts the power supply of the miners with reference to an overloaded power grid.
A panacea for crypto-miner
In November, the Swedish supervisory authorities demanded a ban on the proof-of-work (pow) crypto mining despite the resistance of the national energy supply company. In addition, US Senator Elizabeth Warren made a blow to Bitcoin mining operations on several occasions.
"It is not surprising that all miners want to have lower power consumption and higher hash rates," notes Templeton.
Regions such as Kazakhstan, El Salvador and the states of Wyoming and Texas in the USA attracted Bitcoin miner due to affordable electricity tariffs.
Block has started to carry out various examinations to eliminate the above obstacles. The company has already built up a committed team that consists of engineers from different areas.
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