Intel launched a special blockchain accelerator chip for blockchain activities such as mining cryptocurrencies and creating non-fungible tok...
Intel launched a special blockchain accelerator chip for blockchain activities such as mining cryptocurrencies and creating non-fungible tokens.
Later, a special blockchain chipset that will launch this year has been ordered by Block Inc, the company founded by former Twitter CEO Jack Dorsey and GRIID Infrastructures.
SHA-256 is an algorithm used to mine Bitcoin and several other cryptocurrencies, quoted from The Verge.
Intel said information regarding the chip specifically for cryptocurrency miners will be announced at the International Solid-State Circuits Conference (ISCC) event held on February 20.
There, Intel will give a presentation entitled 'Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC' on February 23. ASICs or application-specific integrated circuits are chips designed specifically for specific purposes, in this case cryptocurrency mining.
Cryptocurrency mining activity itself does require a lot of energy and has an impact on the environment.
Intel ensures that its new chips are highly energy efficient and can speed up tasks running on the blockchain, which require enormous amounts of power.
Not only that, Intel also created a new division specifically for blockchain. The division comprises the custom computing group, which is within the accelerated computing and graphics systems business unit.
Blockchain itself functions as a ledger, containing transaction records from a computer network. Of course, the development of blockchain technology also has an impact on Web3 and NFT, which use a decentralized system.
In addition to Intel, Nvidia is also developing a special chip for mining the cryptocurrency Ethereum.
