Tether developers will release software to improve bitcoin (BTC) mining
Date: 2023-08-08 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
The developers of the stablecoin Tether (USDT) are preparing to release JavaScript libraries to facilitate the transmission of commands and signals to bitcoin (BTC) mining hardware, including WhatsMiner, AvalonMiner and Antminer.
Paolo Ardoino, CTO of the company, said that some pieces of software for mining may appear on open source platforms in the future. The main goal of the new software is to improve the efficiency of mining capacity management. Tether believes that this will lead to a more efficient cryptocurrency mining process.
How the Moria tool works
Before that, in one of his posts, he talked about the Moria tool. It provides communication between components in the BTC mining ecosystem, creating an interaction through an optimized, secure, attack-resistant and cost-effective means.
Thus, each miner will receive a unique public and private key, which will ensure encrypted and secure data transfer. So Tether will reduce the complexity of the firewall configuration and increase resilience to failures.
Tether becomes the 11th largest holder of BTC in the world
Earlier it became known that Tether became the 11th largest bitcoin holder in the world. According to 21.co analyst Tom Wang, he discovered an address that potentially belongs to Tether, which currently holds about 55,022 BTC, worth about $1.6 billion. second quarter.
According to CryptoQuant analyst Mikołaj Zakrzowski, the key issue is that this contributes to increased risk as it introduces additional volatility into the value of the company’s total reserves backing the stablecoin. Moreover, any adverse events affecting Tether could potentially have a detrimental effect on the price of BTC and the entire cryptocurrency market.
