Sunday, December 5, 2021

Mining Firm Titan Introduces Lumerin, a Project Aiming to Commodify Bitcoin’s Hashpower – Mining Bitcoin News

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On October 21, the bitcoin mining pool operator Titan revealed a new decentralized hashpower routing protocol known as Lumerin. The open-source undertaking goals to commodify bitcoin’s hashpower “through smart contracts, making hashpower tradable.”

Bloq’s Mining Arm Titan Announces the Lumerin Protocol

The bitcoin mining operation Titan, a subsidiary of the corporate Bloq Inc., has introduced its decentralized hashpower routing protocol, “Lumerin.” Titan says that bitcoin mining corporations “tend to be concentrated in regions that offer cheap electricity, favorable regulation, and stable infrastructure” and it goals to remedy centralization through software program. The thought is to commodify bitcoin’s processing energy and safety by leveraging sensible contracts.

Mining Firm Titan Introduces Lumerin, a Project Aiming to Commodify Bitcoin’s Hashpower

“The Lumerin Protocol will allow companies and individuals to buy, sell, and deliver hashpower, achieving decentralization through open market dynamics,” Titan’s announcement particulars. “Furthermore, by making hashpower a transferrable digital commodity, the Lumerin Protocol will provide a foundation for hashpower financialization as well as lending, custody, OTC, and trading services.”

Titan Is Looking for Strategic Partners, Announcement Mentions ‘Other Proof-of-Work Hashpower Products’

Titan was co-founded by the corporate’s CEO Ryan Condron, former Bitcoin core developer Jeff Garzik, and the founding associate of Tally Capital, Matthew Roszak. Condron says that Titan is a vital improvement within the bitcoin mining area and it goals to associate with business leaders as properly.

“The new Lumerin brand and clear solution set definitions will support us in providing leading-edge advances that support the Bitcoin mining ecosystem. Titan is providing significant development effort and time to the Lumerin open source project and is actively looking for strategic partners to join us in developing this technology further,” Condron remarked.

While Titan’s different operations will retain the Titan model, the newly launched Lumerin open supply undertaking could have totally different software program options. The announcement particulars that the undertaking will set up a Lumerin Proxy Node, Lumerin Token, and Lumerin Wallet.

“As a result of these changes, we can now move forward with our vision to create a trustless peer-to-peer global marketplace for bitcoin mining and other proof-of-work hashpower products,” Condron mentioned in a assertion. “This will allow anyone to harness the power of crypto through bitcoin mining in a decentralized way,” the Titan CEO added.

What do you concentrate on Titan aiming to commodify bitcoin’s hashpower through sensible contracts? Let us know what you concentrate on this topic within the feedback part under.

Tags on this story
Bitcoin mining, Bloq, BTC Mining, commodify bitcoin’s hashpower, Hashpower, Hashpower OTC, hashpower token, Jeff Garzik, Lumerin Proxy Node, Lumerin Token, Lumerin Wallet., Matthew Roszak, PoW, Proof of Work, Ryan Condron, Software, TITAN, Titan.io

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