Buy $WORTH
Titan, a bitcoin mining firm has revealed a new decentralized hashpower routing protocol called Lumerin. The open-source project will essentially be aiming to make bitcoin’s hashpower a tradable commodity through smart contracts.
Mining Arm of Bloq Inc.,Titan Announces the Lumerin Protocol
Titan, the mining arm of Bloq Inc. firm, has announced ‘Lumerin’, its decentralized hashpower routing protocol. According to the firm, most bitcoin mining companies have the tendencies of being located in areas where electricity is relatively cheap and affordable. They also look to be seeking for regions where regulations are not as stiff, and where there seems to be some form of stable infrastructure. Speaking about what it aims to achieve with the Lumerin project, Titan says the idea is to make the processing power of bitcoin, a tradable commodity and security by leveraging smart contracts.
According to Titan’s announcement, the Lumerin Protocol will ensure that individuals as well as companies, are able to buy, sell, and even deliver hashpower, thereby, achieving decentralization through open market dynamics. Not only that, the Lumerin Protocol is also hoping that by making hashpower a tradable digital commodity, the Lumerin Protocol will set the tone for hashpower financialization as well as custody, lending, OTC, and trading services.
Titan Still Looking for More Strategic Partners, Announcement Reveals
Meanwhile, Ryan Condron, CEO and co-founder of the firm says that Titan is presently taking significant steps in the right direction as made evident by its obvious development in the bitcoin mining space. Condron then went on to claim that the firm is aiming to partner with many more big players in the industry.
Although most of Titan’s other operations will maintain the normal brand, but the newly introduced Lumerin open source project will have a different software solutions.
Notably from the announcement details however, this project is set to establish a Lumerin Token, Lumerin Wallet, and Lumerin Proxy Node.
- ConstitutionDAO PEOPLE Token Continue To Rise Amid DAO Closure
- Ripple Price Prediction: Bears Contemplate A 9% Decline As XRP Drops Below $1
- Richest Indian Sports League IPL Bars Teams From Crypto Partnerships, Here’s Why
- Newegg Finally Confirms that it will Accept Shiba Inu Payments
- Tether FUD: The Mystery Behind $1 Billion USDT Print, Will Bitcoin (BTC) Price Pump?
- Paytm CEO Asserts Crypto Dominance, Claims Mainstream Adoption in 5 Years
- Shiba Inu (SHIB) Metaverse: Here’s Everything You Should Know About Meme Currency’s Gaming Venture
- South Korea: Crypto Legislation to Induct Virtual Currencies into System Supervision
- El Salvador Buys Black Friday Bitcoin (BTC) Dip, Here’s How Much They Bought
- Bitcoin Price Analysis: BTC On Sale At $54,000 On Black Friday
- Kishu Inu Price Analysis: KISHU Token Investors Need This Support Level To Work
- Check Out The Discounted Price Of These Top Crypto Coins.
- Solana Price Analysis: SOL Price Retest The Support Zone Around $184; Will The Rally Continue, Or There’s More To This Correction Phase.
- Kusama Price Analysis: The Hidden Bullish Divergence In RSI Hints A Long Opportunity or KSM Traders
- Ripple Price Prediction: Bears Contemplate A 9% Decline As XRP Drops Below $1
- Shiba Inu Price Analysis: The SHIB Token Drops To The 0.618 Fibonacci Retracement Level; Will This Rally Continue now?
- CKB Token Price Analysis: Parabolic Reversal in CKB Coin Price Attempts To Complete The Rounding Bottom
- Bitcoin Price Analysis: BTC On Sale At $54,000 On Black Friday
- GALA Price Analysis: The GALA Token Marks $0.836 As A New All-Time High; Will It Break This Level As Well?
- Siacoin Price Analysis: The SC Coin Prepares To Breach The $0.0277 Resistance
