September 1, 2020
According to their announcement tweet, a firm based in Hong Kong, Daemon technologies, will now launch the implementation of Stacks Technology to maintain cryptocurrency mining societies in Asia.
They stated that Asian mining societies were already flourishing, and they would help them shape decentralized applications, advance decentralize Web 3, and launch smart contracts.
The declaration explained in detail how it would upkeep cryptocurrency miners in Asia with an organization that will permit them “a new way” to receive Bitcoin yield, which would also construct a new case for Bitcoin.
As many individuals believe, the most extensive use case for Bitcoin is a store of value hitherto. However, Daemon will exploit Blockstack’s supposed Proof-of-Transfer (PoX) mining mechanism; it uses the Proof-of-Work (PoW) cryptocurrency a recognized blockchain to safeguard a new blockchain.
In this case, miners can vigorously earn Stacks (STX) and Bitcoin (BTC) by contributing to the agreement algorithm, which requires committing large financial incomes and calculating power.
With the last Blockstack PBC core team, Daemon is the outcome of Stacks (STX) depositors and Bitcoin (BTC) in Asia coming together with the former Blockstack PBC core team. With a precise effort on Asia, Daemon Technologies will be run by the previous Growth Partner at Blockstack, Xan Ditkoff, who has been raising the Blockstack PBC community. Recommending its platform amongst its Asian communities, Blockstack has hosted 200 decentralized applications. Several Asian investors have reinforced the Blockstack network.