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Blockstream launches mining solution for Bitcoin

Aug 14, 2019, 2:15 pm

Blockstream, a leading Bitcoin company has announced the launch of Bitcoin mining solutions for the miners based in Quebec. Bitcoin CIO Chris Cook and CSO Samson Mow have announced their future plans on the mining infrastructure through a blog post. The post suggests that the company will soon introduce mining solutions and Blockstream mining pools.

Blockstream to support ecosystem

Blockstream will encourage the entry of new parties into the mining landscape to support the growth of the Bitcoin ecosystem. Blockstream has been developing new software to improve, scale and strengthen the Bitcoin network for a long time. The company’s concept of pegged side chains worked as a pioneer. Blockstream came up with its first side chain on the Bitcoin network, the Liquid sidechain after a few years after the publication of the whitepaper explaining the technology. The company also has a Blockstream satellite that broadcast the Bitcoin blockchain around the world 24/7 for free.

Via Cook and Mow on their new Bitcoin mining solution. –

Mining equipment co-location in our purpose built data centers is designed to meet the needs of institutional and enterprise customers. Our hosting services support the fast deployment of virtually ant type of Bitcoin mining eqipment and provide customers with complete control over their mining operations.

Taking measures against mining centralization

Blockstream started its mining operations back in 2017 and the company has been supporting Bitcoin since then. At that time, there was a growing threat from mining-focused technology innovations such as ASIC Boost Technology as they started to centralize their power in order to hold back Bitcoin’s activities. Bitcoin’s mining network should be varied, diverse, and distributed as much as possible to secure its place as the decentralized and censorship-resistant cryptocurrency.

Via Mow and Cook on mining centralization –

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