New York City’s third-tallest (1,428 feet) and world’s narrowest building is being built next to Central Park, which will serve as a hub of wireless trading of cryptocurrencies, also known as peer-to-peer digital asset trading. To top that off, it will be a digital art museum for digital art based on the ownership of non-fungible tokens (aka, NFTs), according to Bloomberg News.
A joint venture has been established between JDS Development Group and Overline Group to build the tower, which should be completed by the end of the year, Todd Morley, Overline chairman and co-founder of Guggenheim Partners, told Bloomberg News.
“Overline Group is developing a new way to decentralize wireless communications at a speed that will even allow crypto-mining,” Morley said.
However, the network will not use the internet or public cellular technologies. It is not clear the exact wireless technology that will be used. Overline is an entirely custom-built multichain network that allows for genuine interactivity between disparate blockchain networks, according to the company.
To achieve interoperability Overline utilizes a unique proprietary consensus mechanism called Proof-of-Distance which builds upon Bitcoin’s Proof-of-Work. The structure will be New York’s third tallest building ranking only behind One World Trade and the Central Park Tower.
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