Bail from jail software program that mines Monero to get people out of jail has seen an increase in demand as the protests around the world flare up. The protests happened because of the death of George Floyd in the United States. Let’s learn more about this project in the Monero news crypto update.
The Bail from jail software known as Bail Bloc is a software program that runs on the back of your computer and generates monero passively which is then distributed to bail funds. The founder of the software Grayson Earle explained that the increase in demand is rising:
“I noticed a 20% increase in our hashrate this week as opposed to last week. We are dedicated as a project and as individuals to the movement for black lives, and feel that the urgency of the situation requires direct action and people should direct resources to organizations on the ground that can respond rapidly.”
The hash rate is the measure of how quickly the calculations for mining are executed. The Bail Block hash rate is now set on 94.5KH/s according to Earle. The Bail funds are used to pay bail for the ones in pre-trial detention which can last for weeks or months. Since 1970 pretrial detentions increased by a stunning 433% according to research by the Center for American Progress. Back in 2015, more than 60% of the jail population in the US was made up of people that were held for pretrial detention.
“The Random-X mining algorithm helped our project because most of the people running Bail Bloc on their computers are using mid-level consumer laptops without dedicated graphics cards (GPUs). Now that GPUs and CPUs are on even grounds in terms of hashrate, we are collecting Monero at a much higher rate than before.”
Bail Bloc raised more than $8000 to get 13 people out of jail. The next check will be going to the Immigrant Bail Fund in Connecticut. The Bail Project is a non-profit organization that provides free bail assistance to millions of low-income Americans every year and accepts bitcoin donations as well. It has secured the freedom of more than 10,000 people in more than 20 cities in the US. Bail Bloc CEO Robin Steinberg explained:
“We use the National Revolving Bail Fund to support bailouts in over 20 jurisdictions, and assistance is provided by our teams of full-time Bail Disruptors and Client Advocates, who are community-based. We started accepting crypto from the beginning, in no small part because Mike Novogratz, chairman of our board, is a firm believer in cryptocurrency and encouraged us.”
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
DC Forecasts - Newsletter and get recent news directly to your inbox! Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.