CHICAGO--(BUSINESS WIRE)--Titan, an innovator in the Bitcoin mining ecosystem, has officially announced its decentralized hashpower routing protocol, “Lumerin.” The open source Lumerin Protocol is a peer-to-peer solution that enables the decentralized control of hashpower through smart contracts, making hashpower tradable.
Solving Centralization with Software
Bitcoin mining companies tend to be concentrated in regions that offer cheap electricity, favorable regulation, and stable infrastructure. By approaching Bitcoin hashpower as a cross-border, liquid, tradable commodity, the Lumerin Protocol will enable a global decentralized peer-to-peer marketplace, allowing for increased mining profitability and capital access.
The Lumerin Protocol will allow companies and individuals to buy, sell, and deliver hashpower, achieving decentralization through open market dynamics. Furthermore, by making hashpower a transferrable digital commodity, the Lumerin Protocol will provide a foundation for hashpower financialization as well as lending, custody, OTC, and trading services.
Lumerin Provides Open Source Stack
Titan is a commercial software company that supports the open source project, Lumerin. Moving forward, all aspects of the Lumerin project will be referred to and fully contained under the Lumerin community and network brand, while all commercial activities will remain under the Titan brand.
To support the new Lumerin open source project, Titan is actively working on the following decentralized software solutions:
- Lumerin Proxy Node
- Lumerin Token
- Lumerin Wallet
These commercial products will retain the Titan brand:
- Titan Mining Pool
- Titan Mining Management
"The new Lumerin brand and clear solution set definitions will support us in providing leading-edge advances that support the Bitcoin mining ecosystem. Titan is providing significant development effort and time to the Lumerin open source project and is actively looking for strategic partners to join us in developing this technology further,” said Ryan Condron, CEO of Titan. “As a result of these changes, we can now move forward with our vision to create a trustless peer-to-peer global marketplace for Bitcoin mining and other proof of work hashpower products. This will allow anyone to harness the power of crypto through Bitcoin mining in a decentralized way."
Titan provides powerful software and services for crypto mining at scale and now offers the first enterprise-grade mining pool. The Lumerin Protocol is a peer-to-peer solution that will make Bitcoin hashrate a tradable, liquid financial asset, unlocking mining profitability and providing greater access to capital. Titan was founded in September 2018 by Ryan Condron, Jeff Garzik, and Matthew Roszak. For more information, please visit Titan.io and follow us on Twitter at @Titan_Mining.