21 Inc will bring Bitcoin to the masses

credit: IMG_0411

credit: IMG_0411

The Bitcoin startup 21 Inc has during a test series illustrates how the company’s machine-to-machine technology can allow Bitcoin transactions. The tests were presented during of the 75 million dollar financing round. The video and slideshow presentation showing 21 Inc. as Bitcoin could be used for a real-time marketplace for Internet bandwidth. Based on users using three proxys 21 Inc demonstrated as the service divide the donwload capascity by Bitcoin payments in an “auction process”. The number of mined Bitcoins determines the bid.

An analysis of the blockchain confirmed that 2Payments have been received on 16 October from the clients 1, 2 and 3. In the presentation of the company the e-mail traffic between the 21 Inc CEO Matt Pauker and the Comcast West Coast director Francisco Varela is seen. In the e-mail describes the manager of the Internet giants, how the customers of the 21 Inc will participate from the mining idea.

The 80-page 21 Inc presentation also shows that 21 pursue to be the largest transaction liquidator in Bitcoin network. So to speak, a liquidator for micro-transactions and provider of a gigantic mining pools simultaneously, packed in a social network. The heart of the company should be a mining-chip, which is installed in consumer electronic products and thus automatically digs Bitcoins. Once installed the BitSplitChip also serves as a hard-coded Bitcoin wallet and rewards the user with a Bitcoin-share of 25%. 75% of the mined BTCs by the user go to 21 Inc.

While consumers only represent a very minor part of the mining networkl, 21 Inc is planning to build a 26-megawatt mining pool equipped with 26,000 servers. This is even significantly increase profits for users, and 21 Inc. and ensure a safe withdrawal.

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