The revealed that the funding is aimed at propelling the launch of OCEAN, the inaugural venture in a series of mining decentralization initiatives for Bitcoin.
OCEAN, the brainchild of Bitcoin Core developer Luke Dashjr, stands out as a pioneering force in the industry. The developer emphasizes a critical paradigm shift for Bitcoin’s true decentralization, stating that “the role of mining pools must change.”
Jack Dorsey, Twitter and Block founder, sees the project as a solution to the growing threat of centralization in mining pools. The entrepreneur highlights that OCEAN addresses a common concern within the crypto community, emphasizing its positive impact on both the broader Bitcoin ecosystem and his personal ventures.
Earlier this October, Dorsey unveiled another of his Bitcoin-related innovations, specifically its storage capabilities — a cold wallet named . The idea is designed to solve a well-known problem by eliminating any intermediaries for users when dealing with their crypto holdings.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
