Tether launches testing phase for Bitcoin mining platform By Crypto.news

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Tether launches testing phase for Bitcoin mining platform

Published Sep 18, 2023 11:41AM ET Updated Sep 18, 2023 12:00PM ET

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Tether launches testing phase for Bitcoin mining platform

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Crypto.news - Paolo Ardoino, chief technology officer of Tether, announced the launch of the testing phase for Moria, the company’s Bitcoin mining platform.

In a posting on X (formerly Twitter), Ardoino declared the platform has achieved a significant milestone during this phase by deploying its initial batch of containers and miners, including extended control over PDU management and miner interaction.

A commitment to security

In an email shared with crypto.news, Tether stressed its commitment to robust security protocols by highlighting that all write actions will require multi-signature approval. At the same time, the company noted that its system will take a peer-to-peer (P2P) approach and integrate with Internet of Things (IoT) technology, a development that Ardoino described as being “almost magic.”

Moria, which is constructed on Tether’s proprietary Holepunch technology, was developed with the goal of changing the communication within the Bitcoin mining ecosystem. By seeking to facilitate secure and resilient interactions among its components, Moria is designed to be highly resistant to potential attacks and cost-effective.

In a recent interview with crypto.news, Ardoino stated that Tether’s long-term goals involved investing in Bitcoin technology, promoting sustainable mining, and supporting open financial and communication infrastructure in developing countries. He highlighted that the company was committed to championing freedom of speech and open-source technologies, as reflected in their projects like Holepunch and investments in open-source hardware wallets.

Furthermore, Ardoino insisted that regulators focus on existing financial structures rather than reactively targeting cryptocurrencies.

“In the last two years, I’ve been in good contact with regulators that are 100% interested in creating a safe environment for cryptocurrencies and blockchain technology to thrive,” he said.

This article was originally published on Crypto.news

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Tether launches testing phase for Bitcoin mining platform

A commitment to security

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