Bitcoin Mining Software Gets a Serious Upgrade.
05 Nov 2022, 08:00
Bitcoin Mining Software Gets a Serious Upgrade
Software utilized in bitcoin mining projects is about to get its first major upgrade in roughly ten years, and financial companies – including Block (formerly known as Square) are looking to take advantage.
Bitcoin Mining Needs to Undergo Some ChangesOne of the big issues surrounding bitcoin mining is that it operates on a proof of work (PoW) protocol, which many environmentalists think could lead the planet into a dark corner. Proof of work allegedly requires more energy than some countries, and it’s believed that if miners continue this path, the atmosphere is going to take a brutal beating.
Today, many bitcoin mining enterprises utilize software known as Stratum, which allegedly facilitates communication between miners, mining pools, and related crypto networks. It combines all the BTC hashing power throughout the world and secures it under a single roof. Stratum is then used by miners to not only submit their work but garner necessary rewards for extracting new units and adding them to the blockchain.