A mining company Halong Mining has joined the Blockchain Defensive Patent License (BDPL), thereby opening access to other companies for its technology of reducing the energy costs of mining equipment. The BDPL initiative is designed to create a structure with common patents that are available to all participants.
To be clear, there are TWO forms of AsicBoost. One seems to be unhealthy for the network (covert AB). The other method is totally transparent (visible in block version) and does not have negative side-effects. Not all AsicBoosting is equal.
— Halong Mining (@HalongMining) March 7, 2018
The technology is called AsicBoost, and it allows you to reduce the energy consumption of mining equipment DragonMint by 20%.
“We have produced and will continue to produce a significant amount of version-rolling AsicBoost enabled miners, enough to incentivize other manufacturers to follow suit, which they are now freely able to do if they join the blockchain defensive patent initiative to help protect the industry from patent aggression,” the hardware producer writes in its announcement.
Charlie Lee, the founder of Litecoin, one of the first forks of Bitcoin, called the actions of Halong Mining “a huge achievement.”
This news went under the radar recently, but I want to highlight this as a HUGE (YUGE!) development in decentralization of Bitcoin mining.
Any miner manufacturer that wants to use AsicBoost will need to join BDPL and open up their patents!
Thank you Little Dragon Technology! 👍 https://t.co/ir3CYg05jP
— Charlie Lee [LTC⚡] (@SatoshiLite) March 6, 2018
The steps that the company is taking can help to move the mining monopoly of the Chinese company Bitmain, and as a result, radically change the type of BTC mining.