Intel’s Steps in the Blockchain Universe

🗣 The tech giant said its new blockchain chip will have 1,000 times better performance per watt for crypto mining than mainstream GPUs, and that its new “blockchain accelerator” chip is energy efficient and designed to contribute to the global development of blockchain technologies. This, given that many of its customers are looking for sustainable options due to the enormous amount of processing power and energy that these technologies require.

Intel senior vice-president Raja M Koduri added that there have been “exponential increases” in computing performance under Moore’s Law. This is the principle coined by Intel co-founder Gordon Moore that the number of transistors on a microchip doubles every two years, while the cost of computers is halved.

“Blockchain is a technology that has the potential to enable everyone to own much of the digital content and services they create,” Koduri said. “No matter how the future evolves, it is certain the availability of a lot more compute to everyone will play a central role.”

Intel also announced a $1bn fund aimed at early-stage start-ups and established businesses developing tech for the foundry space. This is part of Intel’s bid to help meet the growing demand for semiconductors amid a global chip shortage.

The company is planning major investments in Europe and announced last month that it is building a massive new chip-making facility in Ohio with an initial $20bn investment.

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