Intel has come up with a new chip for blockchain applications. Now Bitcoin mining and NFT minting will become much more energy-efficient. The mining process has become very popular among the next-gen. It is an essential process in which the systems solve complex algorithms to make a new coin and corroborate the transactions on the blockchain.
Usually, Nvidia’s graphic cards are actively used for mining purposes. The GPU cards are highly efficient and suitable for cryptocurrency mining. The mining cards continuously decode the hashes repeatedly with one digit changing at each step. Thus, consuming more energy from the system. Also, these chips perform multiple activities i.e. they are not purpose-oriented in nature. Looking to these backlogs, Intel has decided to introduce a blockchain accelerator.
Considering the extensive usage of cryptocurrencies Intel Corp announced a new blockchain dedicated chip on Friday. Raja M. Koduri who is Senior Vice-President and also happens to be the General Manager of Accelerated Computing System and Graphics Group at Intel Corp. made an official press release. It stresses building a roadmap on energy-efficient accelerators and contributing to the development of blockchain technologies.
More power to Blockchain with less energy consumption
Further, Intel is willing to foster an “open and secure blockchain ecosystem”. It wants to help in advancing the technology in a more sustainable and structural way. Koduri intends that Intel is ‘mindful’ enough not to neglect that blockchain technologies draw massive power and result in a huge amount of energy waste. The blockchain ecosystem is in dire need of sustainable solutions. As a result of which, Intel is focusing on the development of energy-efficient computing technologies at scale.
Moreover, Intel reveals its foremost customers as Argo Blockchain (ARGO), Jack Dorsey-led BLOCK (Formerly known a Square), and GRIID Infrastructure. Additionally, the new blockchain accelerators have new circuit innovations, 1000x better performance per watt than Mainstream GPUs of SHA-256 based mining. These chips are built on a “tiny piece of silicon” so that it won’t impact Intel’s supply of current products. Intel will disclose more information at International Solid-State Circuit Conference (ISSCC) this month.
Also, Intel has managed to emerge a new Custom Compute Group within Intel’s Accelerated Computing Systems and Graphics business unit. The goal of this group is to build custom silicon platforms optimized for customers’ work pressure. This further extends to blockchain and other custom accelerated supercomputing opportunities at the edge.