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Intel releases blockchain chip for crypto mining and NFT

Michael Diaz by Michael Diaz
February 14, 2022
Intel releases blockchain chip for crypto mining and NFT
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Intel recently launched a new chip for blockchain applications such as Bitcoin mining and NFT printing amid the growing use of cryptocurrencies.

The chip will ship later this year and its first customers include Block Inc, the company led by Jack Dorsey that recently changed its name from Square Inc to focus more on blockchain.

Intel says its new chip is an energy-efficient ‘accelerator’ designed to accelerate blockchain tasks that require large (energy-consuming) computing power.

See also: Walmart Prepares to Enter Metaverse, Launch Crypto, and Own NFT

Intel has even formed a new segment called the Custom Compute Group within its Accelerated Computing Systems and Graphics business unit.

On the other hand, chip designer Nvidia Corp, whose graphics cards are used extensively for mining activities, also has a separate chip meant for Ethereum mining.

See also: Crypto-related Job Searches On LinkedIn Soar 395 Percent

Blockchain functions as a public ledger that keeps records of transactions on a computer network and this technology has become increasingly prominent in recent years.

The blockchain trend has also fueled rumors surrounding “Web.3” and “NFT” touting decentralized technology.

Tags: BitcoinBlockhainChipIntelNFTNVIDIA
Michael Diaz

Michael Diaz

Game and Blockchain enthusiast

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