TL;DR

• Block, just announced plans to develop a Bitcoin ‘Mining Development Kit’ (MDK).

• The Block team believes having a MDK could result in more novel use cases. For example, as heating solutions for homes or office buildings, or as ways to balance the amount of power in the grid.

• Once Block show how it’s done, they expect people will take their MDK, improve it, and create competitors. (Encouraging more innovation and pushing the BTC mining industry forwards).

Full Story

We knew Jack Dorsey was a pretty big Bitcoin guy – but this is taking it to a whole other level.

His company, Block, just announced plans to develop a Bitcoin ‘Mining Development Kit’ (MDK).

Mining BTC isn’t as simple as just setting up some software and pressing ‘go.’

It requires hardware (i.e. a BTC mining rig), software to solve difficult equations, and some sort of documentation to set it all up and fix it if it breaks.

It might sound simple, but it ain’t!

Plenty of companies already exist to help set up people/companies with everything they need to mine BTC, so why do it?

The answer is two-fold:

1. The Block team believes having a MDK could result in more novel use cases. For example, as heating solutions for homes or office buildings, or as ways to balance the amount of power in the grid.

2. Once Block show how it’s done, they expect people will take their MDK, improve it, and create competitors. (Encouraging more innovation and pushing the BTC mining industry forwards).

Block has the team and resources to pull this off – let’s see where it goes.