Intel launches blockchain chip to tap crypto boom

CNA – Intel on Friday launched a brand new chip for blockchain purposes akin to Bitcoin mining and minting NFTs to money in on the rising utilization of cryptocurrencies.

The chip will ship later this yr and the primary prospects embrace Block Inc, the Jack Dorsey-led agency that not too long ago modified its title from Sq. Inc to focus on its rising concentrate on the blockchain.

Blockchains function public ledgers that hold information of transactions on a community of computer systems and have grown in prominence in recent times. Their rise has additionally triggered a buzz round phrases like ‘Internet.3’ and ‘NFTs’ that tout the decentralisation of applied sciences. Intel stated its chip is an energy-efficient “accelerator” designed to hurry up blockchain duties that require enormous quantities of computing energy and thereby devour a variety of power.

Chip designer Nvidia, whose graphics playing cards are used broadly for mining actions, additionally has a separate chip meant for Ethereum mining.

As part of furthering its footprint within the area, Intel has additionally fashioned a brand new section known as Customized Compute Group inside its Accelerated Computing Programs and Graphics enterprise unit.