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. –
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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 –