Intel Announces New Blockchain Friendly Chip. Chipmaker Intel has announced a new cryptocurrency-friendly chip. As things like Bitcoin mining and NFT become popular, the company is calculating how to increase the profit margin with this new chip.
The chip is expected to hit the market by the end of the year. Among the first buyers was Jack Dorsey’s Square, which was converted to Block Inc. Square Inc. has recently been renamed Blockchain in order to focus on the blockchain.
Blockchain technology, which has become popular in recent years, is actually a ledger or ledger of accounts stored on numerous computer networks. It is called a “decentralized public laser” because it is not stored anywhere alone. The rise of this technology has led to a growing interest in things like the Web3 and NFT, and the decentralization of technology.
Intel says its new chip is a power-friendly “accelerator” designed to speed up work on blockchains. Blockchain technology requires a lot of computing power. According to Intel, the company designed the chip with this in mind, according to a Reuters report.
Chip designer Nvidia Corporation‘s graphics cards are currently widely used for crypto mining. There is also a separate specialized chip for Ethereum coins.
To consolidate its position in the changing market, Intel has also created a new division called “Custom Computing Group” within its Accelerated Computing Systems division and Graphics Business Unit.
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