Tether Set to Launch Hashrate on OCEAN, Propelling Decentralized Bitcoin Mining Forward
In Brief
Tether intends to direct both its existing and forthcoming hashrate towards the OCEAN BTC mining pool, created by renowned Bitcoin Core developer Luke Dashjr.
Company behind the USDT stablecoin, Tether Tether revealed its strategy to channel both its current Bitcoin mining capacity and future hashrate efforts to OCEAN —the OCEAN Bitcoin mining pool, established by long-time contributor to Bitcoin Core, Luke Dashjr. OCEAN emphasizes a decentralized approach, and this collaboration showcases Tether’s larger mission to fortify a more robust, accessible, and transparent Bitcoin network ecosystem.
OCEAN empowers miners to assemble their own block templates through its open-source DATUM protocol, which enables miners to select which transactions to include in a block, eliminating the dependence on central authorities. This feature diminishes the reliance on centralized systems, thereby enhancing censorship resistance and bolstering the distributed framework of the Bitcoin network.
Tether plans to incorporate OCEAN’s DATUM Gateway software into its global mining endeavors, including activities in rural and underprivileged areas like certain regions in Africa. By allowing the on-site generation of personalized block templates and facilitating a large volume of mining equipment with minimal latency, this initiative aims to maintain competitive operations globally while promoting mining diversity—both in terms of geography and function.
Tether Reinforces Its Role in Africa Through a Crypto Education Initiative and Key Investments
Tether operates as a financial tech company on the blockchain, responsible for USDT, the world's leading stablecoin. This digital currency is linked to the US dollar, providing the reliability of traditional fiat values along with the efficiency associated with digital assets.
This recent initiative further consolidates Tether’s growing influence in Africa, where the company is investing significantly in both technological infrastructure and educational projects.
Recently, Tether In collaboration with Quidax, Tether has launched a campaign aimed at fostering cryptocurrency literacy throughout Nigeria and additional countries in Africa. The mission is to empower millions with the skills and knowledge to interact with and take advantage of digital currencies.
Disclaimer
In line with the Trust Project guidelines Be advised that the details shared on this page are not meant to serve as legal, tax, investment, financial, or any other form of counsel. It's crucial to only invest what you can afford to lose, and to seek independent financial guidance if uncertainties arise. For further information, we recommend reviewing the terms and conditions alongside the help and support resources provided by the issuer or advertiser. MetaversePost emphasizes accurate and unbiased reporting, but please note that market conditions may change without prior notice.
