Intel, as previously announced , is building a new processor developed for blockchain applications , including cryptocurrency mining and NFT minting . The chip will hit the market by the end of the year and among the first customers to get their hands on this technology will be GRIID Infrastructures and Block Inc , the company led by Twitter founder and former CEO Jack Dorsey who recently changed it. the name from Square precisely to highlight its growing attention to the world of blockchains.
As a technology, blockchain has the potential to allow everyone to own much of the digital content and services they create. Some even see it as a watershed in the field of information technology, which will in fact subvert the ways in which we store, process and trade our digital assets, at the dawn of the era of the Metaverse and Web 3.0. In any case, whatever the future developments, it will certainly be the widespread availability of an ever greater computing power that will play a key role.
This is the thinking of Raja M. Koduri , Intel’s Senior Vice President, that the processor will be an energy-efficient “accelerator” designed to speed up blockchain tasks that require huge amounts of computing power and consume a lot of energy. This architecture will be implemented on a tiny silicon medium, ensuring that it has minimal impact on Intel’s current product supply.
We are aware that some blockchains require a huge amount of computing power, which unfortunately translates into an immense amount of power. Our customers are demanding scalable and sustainable solutions, which is why we are focusing our efforts on realizing the full potential of blockchain by developing the most energy efficient information technologies on a large scale.
The environmental impact of cryptocurrency mining, in fact, is generating growing concern and attention given that plants often obtain their energy from coal and natural gas plants which can damage the environment as well as contribute to a significant increase in costs for electricity.
Intel believes that its processor will be able to deliver more than 1,000 times higher performance per Watt than traditional solutions used for mining and based on SHA-256 , the optimized cryptographic algorithm that is used to generate Bitcoin and other cryptocurrencies. Further information on the roadmap for this processor will be made available during the Solid-State Circuits Conference (ISSCC 2022) to be held from February 20 to 24. Specifically, Intel is planning a speech titled “Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC”.
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Intel also announced that the new Custom Compute Group has been established within Intel’s Accelerated Computing Systems and Graphics business unit to support this and other emerging technologies. The team’s goal will be to build customized platforms optimized for the workloads required by customers.
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