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Intel Is Preparing A Chip for Cryptocurrency Mining

In recent years, cryptocurrencies have been gaining ground, to the point of being practically consolidated in our society. But, we cannot ignore that these are still in their primitive stage, since aspects such as the amount of energy required to mine and for blockchain technology still need to be improved. To solve these and some other cryptocurrency problems, Intel, the technology company, introduced a blockchain accelerator chip.

Also Read: Intel Is Bringing New Gaming Graphic Cards

The company claims that it will be able to offer a performance per watt 1000 times higher than conventional graphics cards currently used for these procedures. Intel released a statement arguing that they have worked on this new chip that aims to reduce the energy footprint of the blockchain. This, according to Intel, will be ready to meet the world by the end of this year.

The chip whose name we still do not know, will have an architecture based on a small piece of silicon. In addition, it will be based on SHA-256 (the hash function that has been chosen for the operation of many cryptocurrencies).

In the research and development of the chip, Intel took into account the amount of energy that is required for cryptocurrencies. With the results of the research, the company has focused on achieving the maximum potential of blockchain to develop a technology that is not only sustainable, but also effective. In addition, the company claims that the chip is easy to manufacture, generating the same output as an entire cryptocurrency farm.

“Today, we at Intel declare our intention to contribute to the development of blockchain technologies, with a roadmap of low-power accelerators,” says Raja M. Koduri, CEO of the company. “Intel will commit to and promote an open and secure blockchain ecosystem and help advance this technology in a responsible and sustainable manner.” Kodur added.

Also Read: Intel Closes Many Firmware Security Gaps

On the other hand, Intel assures in the statement that they are not unaware of the energy cost required to mine cryptocurrencies. To do this, it is necessary that the graphics cards maintain the same power 24 hours a day. And this is what the company aims to achieve.

Finally, the company added that the first clients that will have the opportunity to work with this chip will be: Argo Blockchain, Block and GRIID. “Our customers ask for scalable and sustainable solutions, so we are focusing our efforts on harnessing the full potential of blockchain by developing the most energy-efficient computing technologies at scale,” adds the technology.

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