Intel launches new blockchain chip
To expand into crypto mining
The semiconductor company, Intel, has recently begun investing in blockchain technology. The company will be focusing on designing a sustainable and energy-efficient chip to mine cryptocurrency.
Intel’s very first crypto chip which they call a “blockchain accelerator,” will speed up blockchain tasks that require huge amounts of computing power to mine crypto. Intel’s senior vice president, Raja Koduri, explains in the announcement post that “We expect that our circuit innovations will deliver a blockchain accelerator that has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining.” For those who do not know what SHA-256 is, it is the hashing algorithm used to generate Bitcoin and many other cryptocurrencies.
The blockchain chip is expected to begin to ship later this year. Two companies have already pre-ordered the crypto-focused chip, including Jack Dorsey’s fintech company, Block, formerly known as Square, and the Bitcoin mining company, GRIID Infrastructures.
As of right now, there is not much information about Intel’s new blockchain tech, but we can expect to learn more about it during the International State Circuit Conference that will begin on February 20th.
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