Bitcoin venture company 21 Inc has applied for bitcoin mining patent circuit
According to the U.S. patent and Trademark Office (USPTO) announced earlier this month for bitcoin startup 21Inc has filed a bitcoin mining patent circuit.
Specifically, the 21 companies are looking for “can adapt to the digital currency mining circuit” difficult ability to apply for a patent.
The application was submitted in May 6, 2015 21, the company’s co-founder NigelDrego VeerbhanKheterpal, and DanielFiru was designated as the inventor. It is reported that this is the 21 company of the second patent applications, as early as in 2014 October, the company filed a similar patent application.
Bitcoin mining is an energy intensive process, its entities compete with each other to create an effective trading block, the current block, successfully dug the miners will get 12.5BTC bonus ($9200).
According to the patent said:
“The problem of encryption difficulty, spawned a professional circuit design for bitcoin mining. This special circuit, can be expensive (including design, purchase and operation). Therefore, to provide an improved system and method for performing encryption and authentication process is desirable.”
It is worth noting that, because the 21 companies have worked with Intel company developed a bitcoin mining machine, which uses a technology company from Santa Clara chip, detailed information obtained in last year’s CoinDesk file was mentioned.
It is reported that 21 companies have begun to develop relevant strategy around its release in 2015 September bitcoin computer, which aims to use digital currency machine to machine to create a basic pay. So far, the startup has raised more than $100 million in venture capital, in May of this year, 21 companies have launched a software suite, which makes other devices can also use their system.
In recent weeks, the United States Patent and Trademark Office announced a number of bitcoin blockchain and winner of patents, including Blockstream, digital asset holdings (DAH), as well as startups and mature companies such as at & T nasdaq.
The 21 companies did not respond to requests for comment.