Tether Boosts Bitcoin Decentralization with OCEAN Protocol Partnership
Tether, the leading stablecoin issuer, has announced a strategic partnership with OCEAN Protocol, a decentralized Bitcoin mining pool, to deploy its existing and future hashrates. This move aims to strengthen Bitcoin's decentralization and censorship resistance by utilizing OCEAN's DATUM gateway software.
OCEAN Protocol, founded by Bitcoin Core developer Luke Dashjr, empowers miners to create their own block templates, reducing reliance on centralized entities. By integrating DATUM, Tether can optimize its global mining operations, even in bandwidth-constrained regions like Africa, ensuring high-performance mining capabilities.
Paolo Ardoino, Tether's CEO, emphasized the importance of decentralization for Bitcoin's long-term integrity. This partnership aligns with Tether's broader mission to counter centralizing forces within the Bitcoin network.
Tether's commitment to Bitcoin is further evident in its recent purchase of 8,888 BTC, increasing its holdings to 92,646 BTC. This move, viewed as a "buy-the-dip" strategy, underscores the company's confidence in Bitcoin's resilience and growth potential. Gabor Gurbacs, a Tether executive, has also expressed optimism, predicting a significant surge in Bitcoin's market cap over the next few years.
This collaboration and Tether's consistent BTC acquisitions highlight the firm's dedication to fortifying Bitcoin's ecosystem and reinforcing its position as a leading cryptocurrency.
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