Jack Dorsey Poured Out Funds For Bitcoin Mining At Mummolin Company

CEO Block and Twitter founder, Jack Dorsey. (Photo; doc. Zfx)

JAKARTA - Mummolin, a software development company based in Wyoming, USA, managed to collect funds of $ 6.2 million (IDR 96.01 billion) in the initial funding round. This round was led by Jack Dorsey, CEO of a billionaire from Block, a well -known financial service company.

The funds are intended to launch Ocean, the latest Bitcoin mining pool from Mummolin. The funding round which was completed on November 28 was also supported by several important contributors, such as Accomplice, Barefoot Bitcoin Fund, Moonkite, Newlayer Capital, and Bitcoin Opportunity Fund. Ocean is expected to change the role of the mining pool in the domain of crypto, especially in Blockchain Bitcoin.

Ocean is not just an ordinary Bitccoin mining pool, but a revolutionary initiative that allows miners to regain their autonomy.

This was explained by one of the founders of Mummolin and Bitcoin core developer, Luke Dashjr. According to him, the Ocean protocol ensures that the miners receive a new block directly from Bitcoin, making it the most transparent and only mining pool that does not invert the miners' assets.

Dashjr added that the conventional Bitcoin mining pool holds full control over block prizes and transaction costs, and distributes them among miners according to their policies. This structure makes the miners vulnerable to the risk of payment detention and the influence of mining ponds. With the presence of mining pool ocean, non-kustodial payments directly from prizes blocks to miners eliminate the risk of detention of payment and unbalanced influence.

Jack Dorsey's support

Jack Dorsey, a key figure in the world of technology, expressed his sincere support for Ocean. He stressed that this project was in accordance with his commitment to advance Bitcoin. His leadership in the investment round of $ 6.2 million (IDR 96.01 billion) showed the significance of the project for the Bitcoin community at large.

"When I see a good project for Bitcoin in general, and also useful for me and my company personally, the decision to get involved in it becomes a simple thing for me, and I like to be a part of it," Jack Dorsey said.

Dorsey also consistently supports other innovative blockchain initiatives. Recently, he was committed to $ 5 million (IDR 77.42 billion) for Bink, a web3 protocol, which reflects its dedication to encourage blockchain technology and increase scalability and decentralization.

As a pioneer who previously led Twitter, Dorsey remained at the forefront in shaping the future of the crypto space. His dedication is to improve the Bitcoin Lightning network and encourage innovation to show the key role it plays in the continuous evolution of the cryptocurrency ecosystem.