Intel Corp on Friday announced the launch of an energy-efficient ultra-fast processing chip for blockchain applications. Touted to be 1,000 times faster than its nearest competitors, Intel’s “blockchain accelerator” will be available to customers later this year.
Intel’s foray into blockchain processing chip making
The official release by Raja M. Koduri, Senior Vice President, General Manager, Accelerated Computing System, and Graphics Group, elaborates on the launch of Intel bitcoin accelerator.
“Today, at Intel, we declare our intention to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators. Intel will engage and promote an open and secure blockchain ecosystem and help advance this technology. responsibly and sustainably,” Raja said in his Intel Newsroom article.
Last month, Intel, the world’s second-largest semiconductor chip maker after TSMC, had scheduled a presentation under “Highlighted Chip Releases” at the ISSCC conference.
He had pitched his next chip for the blockchain industry as a “Bonanza Mine” processor and described it as an “ultra-low-voltage power-efficient Bitcoin mining ASIC.”
Jack Dorsey’s Block Among the First Clients
Among the major clients that have evinced interest in the new processor chip is the Jack Dorsey-led Block Inc (formerly Square).
“Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure are among our first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact on the delivery of current products,” said Raja.
Increased Bitcoin Decentralization?
The new Intel chip should be available for shipping later in 2021, and it promises to make BTC mining quicker and more energyefficient.
“We expect our circuit innovations to deliver a blockchain accelerator that delivers more than 1000 times the performance per watt of traditional GPUs for SHA-256-based mining,” Raja said.
Intel’s foray into the blockchain industry as a provider of quick processing capacity could attract more players into the field of mining.
Jack Dorsey’s Block has confirmed that they are working on rolling out a new bitcoin mining system for home use.
Intel’s entry into the blockchain industry as a speed and scalability solution provider will, however, face competition from MicroBT, a well-known provider of Bitcoin mining hardware products, and Bitmain.
