Intel Launches New Chip For Blockchain Applications

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Intel has announced a new chip specifically designed for blockchain applications that will be critical for bitcoin mining and minting NFTs.

According to Intel, the chip is an energy-efficient “accelerator” designed to fast-track blockchain tasks that require enormous amounts of computing power.

“We are mindful that some blockchains require an enormous amount of computing power, which unfortunately translates to an immense amount of energy. Our customers are asking for scalable and sustainable solutions, which is why we are focusing our efforts on realizing the full potential of blockchain by developing the most energy-efficient computing technologies at scale,” said Raja Koduri, senior vice president and general manager of Intel’s Accelerated Computing Systems and Graphics Group.

Once the chip ships later in 2022, one of its first customers will be Block, a company led by Jack Dorsey. Once known as Square, the company changed its name to Block to emphasize its inclination with digital assets and its market in general.

The company will establish a new Custom Compute Group within Intel’s Accelerated Computing Systems and Graphics business unit, which will support the new technology by building custom silicon platforms optimized for customer workloads.

For more information, read the original story in Reuters.

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