Tether, the issuer of the USDT stablecoin, has recently declared its intention to strategically deploy its Bitcoin mining capabilities to OCEAN, a decentralized mining protocol pioneered by esteemed Bitcoin Core developer Luke Dashjr. This move signifies Tether’s ongoing dedication to enhancing decentralization, transparency, and resistance to censorship within the blockchain arena. OCEAN promises a novel mining approach by enabling miners to create their own block templates via the open-source DATUM protocol, thereby reducing dependence on centralized intermediaries and bolstering the Bitcoin network’s defense against censorship. By utilizing OCEAN’s DATUM Gateway software, designed specifically for mining ventures, Tether aims to contribute to the resilience and decentralization of Bitcoin mining.
Under the leadership of CEO Paolo Ardoino, Tether is aligning its mining investments with its mission to protect Bitcoin from centralization. The company is set to integrate OCEAN’s DATUM Gateway across its global mining operations, with a focus on rural and underserved areas, including parts of Africa. This technology facilitates local block template generation and connects thousands of mining rigs via low-latency networks, promoting competitiveness and diversity in operation and location. Tether’s choice to mine with OCEAN comes after extensive technical evaluations, highlighting the DATUM protocol as the most suitable for Bitcoin’s decentralization principles.
Luke Dashjr, Chairman and CTO of OCEAN, welcomed Tether’s involvement as a testament to the ongoing commitment to decentralization in Bitcoin’s evolution. Additionally, Tether’s growing presence in Africa, through significant investments in mining infrastructure and blockchain education, in partnership with Quidax, aims to empower millions with blockchain-based financial tools. This initiative marks another step towards Tether’s vision of widespread, resilient, and decentralized financial systems.
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Tether advances decentralized Bitcoin mining by deploying hashrate on OCEAN, founded by Luke Dashjr. This move strengthens the network against centralization and censorship. #BitcoinMining #Decentralization #BlockchainTechnology
