Jack Dorsey, CEO of American financial service provider, Square, has revealed plans on Twitter to build an open-source Bitcoin mining system with hopes to further decentralise the Bitcoin network.

He tweeted “Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. The more decentralised this is, the more resilient the Bitcoin network becomes.”

## 'Bitcoin Mining Should be Easier'

"Mining isn’t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn’t enough incentive today for individuals to overcome the complexity of running a miner for themselves.”

Square, Inc. is based in San Francisco, California and was founded in 2009 by Jack Dorsey and Jim McKelvey. The company launched its service Square Cash, which lets anyone with a debit card trade fiat for BTC. The company also offers payment processing services to merchants, charging 2.75 percent per swipe of a credit or debit card.

Dorsey believes that further decentralising the Bitcoin network will be critical for securely settling the transactions "well after the last bitcoin is mined."

More [Blockchain news](/news/category/blockchain-news).

Square's Jack Dorsey to Build Bitcoin Mining System

Launched in 2015, Decentraland is the fastest-growing role-playing metaverse. You can create your scenes and applications, explore other users’ environments, and even trade some of your properties to earn huge profits.

Decentraland’s economy runs on the Ethereum blockchain with Fungible Tokens, called MANA, acting as the game’s currency. All you need is to invest these tokens wisely and grow your properties to make money in this metaverse.

If you think buying virtual land is crazy, then here’s a surprise for you: investors are shelling out millions of dollars for virtual parcels of land, and Decentraland is THE platform to be on.

## Community

It must be called a community just based on the fact that there are concerts on Decentraland! It’s an awesome way to discover and also support new and talented artists you may have never heard of had it not been for the power of Decentraland.

Concerts are one of an infinite amount of ways to even meet other players like yourself!

Some folks are even living their dreams. The ability to buy virtual land also allows for certain entrepreneurs who are following through on what might not have been possible in the physical.

People are opening art galleries, studios, karaoke bars, live comedy clubs, dog parks, and my personal favourite: casinos!

Owning land within a casino is a very interesting aspect of earning income via Decentraland. Imagine owning a few blocks of space, enough for a few table games. Maybe blackjack, maybe baccarat- but regardless of the game on your blocks, you earn income from the table rake (similar to a real casino) every time you have players on tables. The longer they stay the more you keep earning.

## MANA pricing

The live Decentraland price at the time of writing (Oct. 14, 2021) is $0.77 USD with a 24-hour trading volume of $63,348,346 USD.

The current CoinMarketCap ranking is #76, with a market cap of $1,403,337,839 USD. It has a circulating supply of 1,816,956,991 MANA coins and the max. supply is not available.

If you're intrigued and want to buy Decentraland, the top exchanges for trading in Decentraland are currently Binance, Huobi Global, Crypto.com, OKEx, and FTX.

## Is it worth your time?

If virtual worlds intrigue you and you have plenty of time, go for it and knock yourself out you’re gonna love it.

For most like me, you might not have the time to live out your digital dreams of a comic book store but you will have time to make money. Simply buying and holding MANA is a good start. It ensures that you at the very least are holding a currency for an ever-expanding virtual world. And if you ever want to play blackjack with that MANA, come on by there’s an open seat

What is Decentraland Crypto?

It's time to talk crypto gaming.

Elon Musk once famously said, “Paper money is going away.”

Alluding to cryptocurrency, Musk suggested that “Crypto is a far better way to transfer value than pieces of paper, that’s for sure.” Musk’s prediction seems to be coming true, as crypto is becoming a very popular currency form to not only invest in but also to use in a variety of things.

It’s known that includes a wide range from the famous bitcoin pizza all the way to purchased real estate... and fund a player’s online gaming wallet?

No, not video games. Gaming, as in casino games that offer various options to WAGER in.

Yes, Crypto has made its way into Gambling.

## Gambling and Crypto

In 2020, many businesses including land-based casinos saw a temporary halt to their operations due to COVID-19. During that time, online gaming and cryptocurrencies rose in popularity. The global online gaming revenue hit approximately $66 billion in 2020—an increase of $8 billion when compared to 2019. 

But this isn't a new thing- gambling and crypto have a history together.

Cloudbet Casino is a well-known crypto casino site, which has been running since 2013. They offer a nice crypto welcome promotion for new players that consists of a 100% match deposit of up to 5 BTC/BHC/ETH/PAXG, depending on the cryptocurrency in use.

MBit Casino is an online gambling venue that went live in 2014. It's a strictly crypto-only casino that supports [BTC](/coins/btc), BCH, ETH, DOGE, USDT, and LTC. So far, crypto gamers can enjoy over 900 bitcoin games, spread in multiple game categories.

## Keeping Up With Demand

Keeping up with new technology and consumer demands, cryptocurrencies offer a variety of benefits to players and operators.

It’s a lot cheaper for gaming operators to process cryptocurrency payments compared to processing payments made with fiat currencies, resulting in operators offering better bonuses and promotions on crypto gaming platforms which leads to player acquisition and retention.

Another important aspect of cryptocurrency is transparency. Eliminating fraud and ensuring fairness is a top priority for gaming operators. A safe and secure gaming platform is a very attractive component for players looking to join online casinos- and trust them.

Also, players using certain cryptocurrencies can benefit from a high level of anonymity. Cryptos such as Monero are highly preferred due to their private and anonymous nature. According to TKEY, “Crypto players using XMR \[Monero\] can be sure that no third party will get access to their personal data and know about their gains and losses.”

## Personal Data Issues

Recently the protection of personal data has become an extremely important part of many industries. So when gaming operators include cryptos such as Monero, it helps build trust between the player and operator—resulting in more business.

The crypto-gaming space still faces many hurdles such as transaction speeds, regulations, and value fluctuation. These obstacles will take time to tackle as crypto and blockchain are a new and evolving technology.

Many payment processing companies have started adding pay-in and payout support for cryptocurrencies—indicating a growing interest in digital currency in the retail, travel, and software space. Will cryptocurrencies stay pertinent for the online gaming industry?

Only time will tell. Please place your bets.

Place Your Crypto Bets!

So you’re into all things Crypto and you no doubt know about DeFi, but have you heard about GameFi?

Don’t feel left out if you don’t know what I’m talking about, this is all fairly new even to longtime HODL’ers.

Crypto games are video games that run on a cryptocurrency network and include a completely or partially distributed ledger architecture, providing players verifiable ownership over the virtual products contained in the games.

But where do the roots of this movement come from?

2003 is considered the year that in-app purchases entered online games in a really big way, from obscure role-playing games about medieval knights to virtual world Second Life, and even corporate-backed entries like Disney’s ToonTown Online.

Eventually, there had to be a huge moving force that would change the world forever- three letters that kickstart this story and lay the foundation for what we will likely be experiencing now and in the future in regards to virtual currency: WoW.

Released in 2004, World of Warcraft is arguably the most successful, massively multiplayer online role-playing game of all time, at its peak, it had upwards of ten million users in the game. The in-game currency of WoW, simply titled “Gold,” can be used for anything imaginable, from items to services with increasingly esoteric means, like food that makes your character spit fireballs.

A Side-effect of this? The line between digital and real currency begin to blur.

By the late 2000s, that line between virtual currency and fiat was one that individuals and enterprises alike were bouncing back and forth over for profit. Value could be digital. Value could be anything. And this was no longer just limited to nerdy kids. Farmville, popular with kids and parents alike, posted revenues of $235 million in the first quarter in 2010, most of which was from in-game purchases for digital goods.

Fast forward to 2021 and almost all mobile and console games including Roblox, Minecraft, and Fortnite have in-app purchases. Welcome to the age of GameFi.

This is no doubt moulding the youth into a generation that feels incredibly comfortable with digital currency transactions.

Axie Infinity is among the biggest—and most polarizing—of these new games, which allow players to accumulate tradeable crypto coins. To investors like billionaire Mark Cuban and Reddit co-founder Alexis Ohanian, who were part of a $7.5 million funding round for Vietnamese game-maker Sky Mavis in May, it’s a gateway to crypto for people playing around the world.

Those players are banking on the success of Bitcoin and others in hopes of turning them into high-value tokens.

Other projects that include some of the most popular coins in the GameFi space: Uniswap, Chainlink, Dai, ZRX, Maker, Aave, and PancakeSwap.

This, along with the recent NFT craze will absolutely contribute to massive growth in cryptocurrency adoption.

Game on.

Latest Moni

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