31 min

The Kingdom Episode 5: Dip’s Chips The Kingdom Podcast

    • Entrepreneurship

Though there are multiple mechanisms by which bitcoin is mined, Timo Hanke puts it simply: “Let’s say you were the bitcoin creator and you were to distribute this new currency to the world. You have to find a way to to decide on who to give it to. The way bitcoin did this was to say that ‘well, we’re giving out a computational puzzle, which is compute intensive. Whoever solves this puzzle, gets a little bit of new bitcoins… and we let the world compete for those.”Cryptocurrency technologies are developing quickly. Keeping up with the latest mining methods, including mining hardware, is essential to understanding the impact bitcoin and its miners will have on energy consumption. CTO Dip Patel is joined by Timo, a member of Soluna’s advisory board and Chief Research Officer at DFINITY, to educate crypto enthusiasts on fundamentals of mining hardware and the implications of chip design on our business.What are the different types of chips for mining bitcoin? How do these chips operate? Tune in to find out. Connect with us + our guest @TimotHank@Dfinity@TheKingdomPod@SolunaPower @DipulPLiked what you heard? Be sure to rate us *5* stars, leave a quick review, and subscribe. Didn’t take notes? Don’t worry. Check out our blog, Clean Integration, on Medium for more.

Though there are multiple mechanisms by which bitcoin is mined, Timo Hanke puts it simply: “Let’s say you were the bitcoin creator and you were to distribute this new currency to the world. You have to find a way to to decide on who to give it to. The way bitcoin did this was to say that ‘well, we’re giving out a computational puzzle, which is compute intensive. Whoever solves this puzzle, gets a little bit of new bitcoins… and we let the world compete for those.”Cryptocurrency technologies are developing quickly. Keeping up with the latest mining methods, including mining hardware, is essential to understanding the impact bitcoin and its miners will have on energy consumption. CTO Dip Patel is joined by Timo, a member of Soluna’s advisory board and Chief Research Officer at DFINITY, to educate crypto enthusiasts on fundamentals of mining hardware and the implications of chip design on our business.What are the different types of chips for mining bitcoin? How do these chips operate? Tune in to find out. Connect with us + our guest @TimotHank@Dfinity@TheKingdomPod@SolunaPower @DipulPLiked what you heard? Be sure to rate us *5* stars, leave a quick review, and subscribe. Didn’t take notes? Don’t worry. Check out our blog, Clean Integration, on Medium for more.

31 min

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