Intel on Tuesday announced a new Blockchain ASIC (Application-Specific Integrated Circuit) chipset designed specifically for crypto mining that promises energy-efficient hashing for Proof of Work consensus networks.
To the uninitiated, a chain of private computers – a network – is constantly working toward authenticating transactions by solving complex cryptographic puzzles. This is called cryptocurrency mining. Most of the old cryptocurrencies, such as Bitcoin, Rely on the proof-of-work mechanism. PoW is a traditional form of crypto mining where thousands of computers are required in a mining facility that consumes high electrical power.
Hashing is basically, the computational power that crypto miners need to mine a coin. This computational power is also referred to as the hash rate. The higher the hash rate a miner offers, the more coins can be mined.
Intel’s new Blockchain chip is compatible with ASIC-based systems and SHA-256 hashes, providing the energy efficiency and computing power needed to achieve scalability and sustainability. Given the nature of the silicon that supports this technology, Intel will be able to supply these chips in size without compromising the supply of new CPUs or GPUs.
“Momentum around blockchain continues to grow. It is an enabler of decentralized and distributed computing, making way for innovative business models. To power this new era of computing, Intel offers solutions that can provide the optimal balance between retail productivity and energy efficiency regardless of the customer’s operating environment,” said Balaji. Kanichirla, Intel Vice President and General Manager for Dedicated Computing at Fast Computing Systems, Intel’s decades of research and development in cryptography, hashing technologies and ultra-low voltage circuits make it possible for blockchain applications to expand their computing power without compromising sustainability. .
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Key specifications of the Intel Blockscale ASIC include a dedicated Secure Hash Algorithm-256 (SHA-256) ASIC processor, a hash rate of up to 580 GHz/sec and power efficiency of up to 26 J/TH, on-chip temperature and voltage-sensing capabilities, support Up to 256 integrated circuits per chain, design reference hardware and software suite to start customer system development.
According to Intel, shipments to customers will begin in the third quarter of 2022. Meanwhile, Argo Blockchain and Block Inc. will be. Hive Blockchain Technologies and GRIID Infrastructure are among the first to develop new systems based on Intel’s ASIC.
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