CoinTerra acquires Bits of Proof, will leverage software for mining operations

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining equipment manufacturer CoinTerra has acquired Bits of Proof, a Bitcoin software startup. With the acquisition, Bits of Proof CEO Tamas Blummer becomes CoinTerra's Vice President of Enterprise Software and CoinTerra gains access to Bits of Proof's assets.

According to Bits of Proof's website, the company "is an independent, self funded technology leader in Bitcoin, with development centre in Budapest, Hungary." It has powered Bullion Bitcoin, a gold-bitcoin Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term; Trezor Web Wallet; and BopShop, a white label merchant solution.

CoinTerra will in incorporate Bits of Proof's software into its hardware mining operations to maximize growth. Bits of Proof is said to employ "a modern and modular, enterprise ready implementation of the Bitcoin protocol." Said Ravi Iyengar, CoinTerra's CEO:

"By acquiring Bits of Proof CoinTerra gains enterprise software expertise and solutions that complement our expertise in hardware development and significantly strengthen our offering. "The software solutions developed by Bits of Proof and the expertise of Tamas Blummer represent an important piece of the enterprise mining puzzle that will allow us to grow our operations quickly and security at peak efficiency."

Apart from manufacturing and selling Bitcoin miners, a business that has been fraught with controversy, the company also runs its own mining operations. Powered by "TruePeta", clients can purchase mining contracts ranging from 200 GH/s to 1 PH/s.