{"id":13516,"date":"2021-10-23T19:54:51","date_gmt":"2021-10-23T19:54:51","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/mining-firm-titan-introduces-lumerin-a-project-aiming-to-commodify-bitcoins-hashpower\/"},"modified":"2021-10-23T19:54:51","modified_gmt":"2021-10-23T19:54:51","slug":"mining-firm-titan-introduces-lumerin-a-project-aiming-to-commodify-bitcoins-hashpower","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/mining-firm-titan-introduces-lumerin-a-project-aiming-to-commodify-bitcoins-hashpower\/","title":{"rendered":"Mining Firm Titan Introduces Lumerin, a Project Aiming to Commodify Bitcoin\u2019s Hashpower"},"content":{"rendered":"

On October 21, the bitcoin mining pool operator Titan revealed a new decentralized hashpower routing protocol called Lumerin. The open-source project aims to commodify bitcoin\u2019s hashpower \u201cthrough smart contracts, making hashpower tradable.\u201d<\/strong><\/p>\n

Bloq\u2019s Mining Arm Titan Announces the Lumerin Protocol<\/h2>\n

The bitcoin mining operation Titan<\/a>, a subsidiary of the company Bloq Inc., has announced its decentralized hashpower routing protocol, \u201cLumerin.\u201d Titan says that bitcoin mining companies \u201ctend to be concentrated in regions that offer cheap electricity, favorable regulation, and stable infrastructure\u201d and it aims to solve centralization via software. The idea is to commodify bitcoin\u2019s processing power and security by leveraging smart contracts.<\/p>\n<\/p>\n

\u201cThe Lumerin Protocol will allow companies and individuals to buy, sell, and deliver hashpower, achieving decentralization through open market dynamics,\u201d Titan\u2019s announcement details. \u201cFurthermore, by making hashpower a transferrable digital commodity, the Lumerin Protocol will provide a foundation for hashpower financialization as well as lending, custody, OTC, and trading services.\u201d<\/p>\n

Titan Is Looking for Strategic Partners, Announcement Mentions \u2018Other Proof-of-Work Hashpower Products\u2019<\/h2>\n

Titan was co-founded by the company\u2019s CEO Ryan Condron, former Bitcoin core developer Jeff Garzik, and the founding partner of Tally Capital, Matthew Roszak. Condron says that Titan is a significant development in the bitcoin mining space and it aims to partner with industry leaders as well.<\/p>\n

\u201cThe new Lumerin brand and clear solution set definitions will support us in providing leading-edge advances that support the Bitcoin mining ecosystem. Titan is providing significant development effort and time to the Lumerin open source project and is actively looking for strategic partners to join us in developing this technology further,\u201d Condron remarked.<\/p>\n

While Titan\u2019s other operations will retain the Titan brand, the newly introduced Lumerin open source project will have different software solutions. The announcement details that the project will establish a Lumerin Proxy Node, Lumerin Token, and Lumerin Wallet.<\/p>\n

\u201cAs a result of these changes, we can now move forward with our vision to create a trustless peer-to-peer global marketplace for bitcoin mining and other proof-of-work hashpower products,\u201d Condron said in a statement. \u201cThis will allow anyone to harness the power of crypto through bitcoin mining in a decentralized way,\u201d the Titan CEO added.<\/p>\n

What do you think about Titan aiming to commodify bitcoin\u2019s hashpower via smart contracts? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMining, Bitcoin mining, Bloq, BTC Mining, commodify bitcoin\u2019s hashpower, Hashpower, Hashpower OTC, hashpower token, Jeff Garzik, Lumerin Proxy Node, Lumerin Token, Lumerin Wallet., Matthew Roszak, PoW, Proof of Work, Ryan Condron, Software, TITAN, Titan.io<\/p>\n","protected":false},"excerpt":{"rendered":"

On October 21, the bitcoin mining pool operator Titan revealed a new decentralized hashpower routing protocol called Lumerin. The open-source project aims to commodify bitcoin\u2019s hashpower \u201cthrough smart contracts, making hashpower tradable.\u201d Bloq\u2019s Mining Arm Titan Announces the Lumerin Protocol The bitcoin mining operation Titan, a subsidiary of the company Bloq Inc., has announced its…<\/p>\n","protected":false},"author":0,"featured_media":13517,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13516"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13516"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13517"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}