Intel announces a chip to mine cryptocurrencies 1,000 times faster than graphics cards

the cryptocurrencies they are increasingly consolidated, despite the sharp drop in their price in recent weeks.

But for them to be massively accepted, they must solve two problems: hoard graphics cards which leaves gamers and PC users out of stock, and brutal energy consumption mining and blockchain.

Intel you may have found the solution with a blockchain acceleration chip that will be released by the end of the year, and who assures 1000 times faster than gaming graphics cards used for this task.

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In the press release it published introducing the new chip, the word cryptocurrency is never mentioned, but a blockchain accelerator It’s just that: a chip that allows to mine crypto-currencies and to optimize the purchase and sale operations managed by the blockchain.

Intel assures that a single chip, which is also easy to manufacture and will not have an impact on its production line, will deliver a thousand times better performance than graphics cards which they now use to set up farms based on cryptographic functions SHA-256used by most cryptocurrencies.

If Intel manages to bring a chip to market with these characteristics, it would mean that cryptocurrency miners would no longer be interested in using gaming graphics cardsreleasing them for use by intended users.

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Another very important benefit of this announcement is reducing the cost of energy.

Mining cryptocurrencies requires put high-powered graphics cards to work around the clock. Moreover, cryptocurrency and NFT trading operations also require computing data between thousands of computers on the blockchain, with high power consumption.

Cryptocurrencies already consume more electricity than countries like Argentina, Norway or Chile. According to Ubisoft, a single transaction with Bitcoin is equivalent to the consumption of a million hours of video. And there are thousands of transactions every day…

Intel did not explain the power reduction that your blockchain acceleration chip will achieveregarding graphics cards, but this will be very important:

We are aware that some blockchains require enormous computing power, which unfortunately translates into an immense amount of energy.explains Raja M. Koduri, project manager.

Our customers demand scalable and sustainable solutions, so we focus our efforts on unlocking the full potential of blockchain by developing the most energy-efficient computing technologies at scale.“.

Intel has confirmed that the first customers to use these chips are Argo Blockchain, Blockchain, founded by the creator of Twitter, and GATE. These are all companies working in the cryptocurrency industry.

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