Intel is All Set to Launch its Bitcoin Mining Chips

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Key Takeaways:

  • Intel aims to develop Blockchain technology by using “scalable and sustainable solutions.”
  • Argo Blockchain, BLOCK, and GRIID have already become Intel’s customers.
  • Intel claims to outperform SHA-256. 

With all the big companies stepping into the world of crypto and blockchain technology, Intel has also announced on its official website that the company is ready to play its part in blockchain development by transforming the technology into something sustainable. Intel is planning to do so with the help of energy-efficient accelerators and will also “engage and promote an open and secure blockchain ecosystem”. 

In its message, Intel has acknowledged that blockchain can empower content creators to own what they are creating. A few days earlier, Lens Protocol took a similar stance when they shared their plan of creating user-owned social platforms. 

Intel will be shipping their accelerator this year. They already have Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure on board as customers who share the same sustainable goals as Intel. The company is aware of the mass computing power required by blockchains. To fulfil their customer’s request to leverage scalability and sustainability, they have included their architecture on a tiny piece of silicon. 

Intel has also claimed its bitcoin mining chip. It says, “We expect that our circuit innovations will deliver a blockchain accelerator that has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining.” SHA-256 is generally used for cryptographic security and contains six hash functions with digests. However, Intel says it can outperform SHA-256 as it has invested decades to source reliable cryptography, hashing techniques and ultra-low voltage circuits. 

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Shreya Bhattacharya

A journalist & writer exploring new topics every day!