Twitter founder Jack Dorsey has invested millions of dollars in OCEAN, a project that aims to revolutionize the Bitcoin mining industry globally.
Twitter Founder Jack Dorsey Invested in OCEAN
OCEAN is the first non-custodial pool that allows network participants to regain their independence by receiving new block rewards directly from Bitcoin itself.
The project is the brainchild of Bitcoin Core developer Luke Dashjr, who emphasizes a critical paradigm shift for Bitcoin to be truly decentralized and states that the role of mining pools must change.
The fund aims to support the launch of OCEAN, the first step in a series of mining decentralization initiatives for Bitcoin.
Jack Dorsey sees the project as a solution to the growing threat of centralization in BTC mining pools.
He underlines that OCEAN addresses a common concern within the crypto community, highlighting its positive impact on both the broader Bitcoin ecosystem and his personal initiatives.
Earlier in October, Dorsey introduced another of his Bitcoin-related innovations, specifically its storage capabilities, a cold wallet called BitKey.
This idea was designed to solve a widely known problem by eliminating any middleman when users deal with their crypto assets.
*This is not investment advice.