Intel showed its desire to enter the cryptocurrency market.
For this, it presented a blockchain accelerator chip with which it claims it can offer a performance per watt 1,000 times higher than that of today’s graphics cards.
According to Intel, this accelerator comes as a chip, an architecture implemented on a small piece of silicon, and will offer a significant improvement over conventional GPUs for SHA-256-based mining.
According to a statement, the chip to speed up the blockchain is based on Intel’s research knowledge in cryptography and hashing techniques.
“Today, we at Intel declare our intention to contribute to the development of blockchain technologies, with a roadmap of low-power accelerators”, explains 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.”
This launch responds to the growing trend in the technology sector and the increasingly popular adoption of blockchain technology.
For Intel, this innovation “has the potential to allow everyone to own much of the content and digital services they create.”
In the statement, the company also claims to be aware of the high associated energy cost. In fact, mining cryptocurrencies requires running very powerful graphics cards 24 hours a day.
“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.
Intel also noted that the first customers to use this chip will be Argo Blockchain, Block, and GRIID; it is expected to be released by the end of the year.
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