Tether unveils mining software to boost efficiency and capacityAugust 6, 2023
As per a post shared on August 5 by Paolo Ardoino, the chief technology officer (CTO) of Bitfinex and Tether, certain segments of this mining software will be made available on open-source platforms in the future. The recently introduced Tether BTC mining software’s primary aim is to enhance the efficient management of mining capacity, leading to more effective operations.
Ardoino emphasized his role as a core contributor to the architecture of Moria, an orchestration instrument for mining farms. Notably, all the recent advancements are built upon Holepunch technology.
In a previous post, the Tether CTO shared insights about Moria’s functionality. This mining instrument enables communication among components within the BTC mining ecosystem, enabling interactions through streamlined, secure, attack-resistant and cost-efficient means.
Ardoino explained that every device/miner will have a unique public/private key, enabling encrypted and secure data streaming (hyper cores) and command reception (via hyper swarms). This approach reduces firewall configuration complexity, enhances resilience to failures, allows easy replication across sites and creates a sense of improved maintainability and modularity compared to previous attempts.
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Despite facing legal challenges and regulatory enforcement actions, Tether has remained involved in the cryptocurrency mining sector, showcasing efforts and contributions.
Following the disclosure of its intentions to allocate a specific portion of its monthly profits towards acquiring BTC, the issuer of stablecoin, Tether, made an announcement regarding its investment in energy production and sustainable BTC mining. Through a collaboration with a licensed local company in Uruguay, the crypto protocol introduced Tether Energy to facilitate these endeavors.
Uruguay is renowned for its robust infrastructure in the renewable energy sector. Notably, nearly 100% of its electricity is derived from renewable sources, thanks to its abundant natural resources. Given these highly favorable conditions, Tether is confident that it has made the appropriate decision.
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