Bitfury's Bitcoin Mining Light Bulb: Mainly an Education Tool
Bitfury, a bitcoin infrastructure provider and transaction processor, recently unveiled a bitcoin mining light bulb during the inaugural Blockchain Summit on Necker Island in the Caribbean. The light bulb automatically mines bitcoin when it screws into a light socket. The bitcoin mining bulb will be released later this year, according to Bitfury CEO Valery Vavilov.
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BitFury's new product, a light bulb that can mine bitcoin, garnered a lot of attention via Reddit a few days back as attendees of the Blockchain Summit started posting photos online. This event is an informal four-day gathering of the industry leaders in Richard Branson's Necker Island. "We believe that the project's focus should not be on making money from bitcoin mining, but on creating innovative solutions with main purpose to use this product for educational purposes and fun," said BitFury CEO Valery Vavilov. How to Mine Bitcoin. Bitcoin startups have been working on ways to find uses....
Bitcoin mining giant BitFury is moving ahead with development of a previously announced prototype for a bitcoin-enabled Internet of Things (IoT) device. The original prototype, announced last June, took the form of a consumer light bulb that was capable of mining small amounts of bitcoin. BitFury positioned the project at the time as one that would promote understanding of bitcoin technology, while providing developers with a platform for experimentation. Despite a lack of public announcements on the initiative, BitFury head of product Niko Punin stated that the company’s vision for the....
Following the revelation last week that BitFury had developed a prototype light bulb capable of mining bitcoin, the company has announced it plans to take steps to bring the devices to market in 2015. Though much about the market strategy remains in early stages, the news follows increasing reports that industry companies are attempting to find use cases for bitcoin in line with the broader trend toward connecting everyday devices to the Internet. BitFury said it intends to invite the community to become a part of its rollout plans, and that it would solicit ideas on how the light bulbs....
Block Chain Summit, the exclusive bitcoin event held on Richard Branson's private island, has revealed a surprising advocate of blockchain technology. According to tweets from Necker Island, actress Lucy Liu - better known for her work in Hollywood blockbusters and Sherlock Holmes reboot Elementary - joined participants for a Skype discussion on how the blockchain could play a role in identity management. Although the event was live streamed on Periscope, organisers are expected to publicly release videos of the talks given during the three-day event soon. Following 21's plans to put....
One of bitcoin's biggest mining infrastructure providers, BitFury, has launched a new hosted mining service for business customers. The company claims the scheme will provide customers with "optimal and reliable" - but low-cost - hash power to maximise the return on their investment. BitFury says its ASICs and specialised mining hardware have established it as the market leader in both constructing and managing computing centres for mining operations. According to the company, approximately 40% of all bitcoins are mined using BitFury-made chips. DigitalBTC and CryptX became the first....