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Halong Mining announced the accession to the Blockchain Defensive Patent License

The manufacturer of equipment for bitcoin Mining Halong Mining reported that the company has joined the Blockchain Defensive Patent License (BDPL) initiative with a patent for the overt version of AsicBoost technology.

According to the BDPL, one of the ways to confront a monopoly in mining is to encourage miners to grant their mining patents as part of mutual patent licensing. BDPL assumes that other operators in the industry are able to implement the overt version of AsicBoost technology.

This long-awaited move by the company casts doubt on the monopoly of the Chinese company Bitmain and can fundamentally change the mining of bitcoins.

Litecoin founder Charlie Lee called this “a huge achievement.”

The patent received by Halong is different from the patent for the “secret” covert version of Bitmain’s AsicBoost technology, which caused so much hype in the crypto currency community last year, and aims to reduce electricity consumption without harm to the network.

The company’s website says it has been a long way, but the introduction of the overt version can create the right direction for the movement of other patent owners in the industry to encourage them to join the BDPL, and create a strong patent protection pool in exchange for access to technology for energy-efficient process optimization Mining Bitcoin. An increase in the number of patent holders will help protect the industry from patent aggression.

Earlier, Bitcoinist reported that Bitcoin-Miner DragonMint produced by Halong Mining offers additional advantages for the crypto currency underpinning compared to the ASIC models Antminer of Bitmain as a cheaper and more powerful device.

Charlie Lee noted that adding SegWit support to Bitcoin Core and other large companies is contrary to Bitmail’s business interests, since SegWit blocks the capabilities of AsicBoost – but the covert version, not the overt version. Algorithm optimization protocol AsicBoost allows you to find blocks of 15-20% faster.

The post Halong Mining announced the accession to the Blockchain Defensive Patent License appeared first on Target Veb.



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Halong Mining announced the accession to the Blockchain Defensive Patent License

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