Odyssey Under the Sea: OCEAN Revolutionizes Bitcoin Mining

CEO Jack Dorsey of Block Leads $6.2 Million Investment in Decentralized Bitcoin Mining Pool

Block CEO Jack Dorsey invests $6.2 million in decentralized Bitcoin mining pool.

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Breaking news! Wyoming-based Mummolin, Inc, has just made a splash in the world of digital assets with a whopping $6.2 million seed funding round, led by the legendary Jack Dorsey himself. This investment extravaganza features prominent players like Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and the Bitcoin Opportunity Fund, among others. Brace yourselves, folks, as Mummolin takes us on an exciting journey into the deep blue sea of blockchain technology!

Introducing OCEAN, the audacious initiative that aims to decentralize Bitcoin mining on a global scale. Picture a treasure hunt where Bitcoin miners compete to unearth precious digital coins beneath the vast ocean of the blockchain. Exciting, right? Well, OCEAN is here to tackle a problem that haunts all Bitcoin enthusiasts—the dreaded centralization of mining pools. You know, those pools that have the power to sway Bitcoin’s fate in their favor. OCEAN is on a mission to preserve the cherished attributes of Bitcoin while ensuring the prosperity of all its swashbuckling participants.

Jack Dorsey, the co-founder of Twitter and CEO of Block, Inc., dives into the rationale behind his wholehearted endorsement of OCEAN: “This project is a win-win. It’s great for Bitcoin as a whole and for me and my companies personally. When you spot something that benefits both your treasure chest and the treasure map, you just can’t resist becoming a part of it.”

But what makes OCEAN’s treasure hunt so special? Well, let us shed some light on this. The OCEAN pool is not your ordinary pirate cove! It stands tall as the first transparent and non-custodial treasure trove for miners. Imagine miners receiving their block rewards directly from the coinbase transaction, bypassing the risk-laden traditional pools that might keep booty from individual miners. Captain Mark Artymko, the co-founder and President of Mummolin, explains, “OCEAN’s direct payouts to miners from the block reward eliminate this risk and rid the pool of its undue influence over miners.”

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Ah, the winds of change are blowing, my fellow cryptocurrency enthusiasts! We have assembled a crew of brilliant minds dedicated to righting the wrongs of the mining industry. Welcome aboard the OCEAN ship, where miners can be true miners once again. Luke Dashjr, a long-time Bitcoin Core developer and co-founder of Mummolin, tells us, “To keep Bitcoin afloat as a truly decentralized currency, the role of mining pools must evolve. OCEAN is a beacon of change, offering miners the transparency they deserve. Say goodbye to dark, treacherous waters and hello to OCEAN’s bright, self-auditing glow!”

Let’s dive deeper and explore the three main issues that the OCEAN team is determined to tackle:

Centralization of block template construction – Think of the intelligent parts of mining as the mighty architects of the Bitcoin universe. While the hashrate may be scattered across the globe, the construction of block templates rests in the hands of a chosen few and the pools they command. This disproportionate level of influence threatens to capsize Bitcoin’s ship. Fear not! OCEAN is here to empower miners by giving them the power to construct their own block templates while enjoying the economic benefits of being part of a larger community.

Custodianship – Pirates beware! Most pools out there act like greedy treasure hoarders, using a payout scheme that places them as the gatekeepers of miners’ hard-earned loot. They become the de facto Bitcoin bank account, introducing significant counterparty risk for miners. OCEAN, on the other hand, is the cool, non-custodial pirate ship that lets the miners hold their stolen treasure as soon as they get their hands on it. No middleman, no hassle!

Transparency – Ahoy, me mateys! Imagine joining a treasure hunt blindfolded, unaware of the glistening gems hidden beneath your feet. That’s the sad reality for most miners in traditional pools. They’re left in the dark, clueless about the transactions they commit their hashrate to. But OCEAN doesn’t believe in blindfolding its sailors. They proudly unveil all the underlying transactions, allowing miners to navigate the seas of block construction with confidence. It’s a self-auditing spectacle that keeps everyone on their toes and ensures OCEAN always acts in the best interest of its crew.

But the journey doesn’t end here! OCEAN has set its sights on an ambitious future. They plan to roll out additional phases of Bitcoin decentralization improvements and upgrades in 2024. So, fellow adventurers, tighten your life jackets, secure your treasure maps, and visit OCEAN.xyz to embark on this extraordinary expedition.

Oh, and let us know, my dear readers, what aspect of the Bitcoin mining world excites you the most? Are you ready to join OCEAN’s crew and explore the uncharted depths of blockchain treasures? Share your thoughts in the comments below, and let’s embark on this digital voyage together! Yo-ho-ho!

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