Intel anticipated to release its first blockchain accelerator later this year
Intel has taken a seat at the Blockchain table and intends to mingle with the other hardware players in the space.
On Friday, the chipmaker, Intel announced its intention to contribute to the development of blockchain technology by developing an effective blockchain accelerator.
According to Raja M. Koduri, SVP and General Manager of Intel’s accelerated computing systems and graphics department, the architecture will be implemented on a little piece of silicon. Late last year, Koduri alluded to Intel’s blockchain ambitions, but this is the first official confirmation with supporting details.
Furthermore, according to Koduri, Intel anticipates its circuit advancements to produce an SHA-256-based mining accelerator with over 1,000 times greater performance per watt than current GPUs
“We are mindful that some blockchains require an enormous amount of computing power, which unfortunately translates to an immense amount of energy. Our customers are asking for scalable and sustainable solutions, which is why we are focusing our efforts on realizing the full potential of blockchain by developing the most energy-efficient computing technologies at scale. “– Intel’s Raja
M. Koduri said, commenting on the latest developments.
Intel has created a new bespoke compute group to assist the endeavor under its accelerated computing systems and graphics business segment. Argo Blockchain, Block (previously Square), and GRIID Infrastructure, a Bitcoin mining startup, will be its first customers.
With Apple’s new Tap to Pay feature on the iPhone encroaching into Block’s territory and CEO Jack Dorsey’s interest in crypto, it’s no surprise that they’ll be among the first to get their hands on Intel’s new hardware.
Intel plans to release its blockchain accelerator later this year and will provide further details at the International Solid-State Circuit Conference (ISSCC) later this month. If expectations are believed, it propels that Intel technology will provide 1,000 times greater performance per watt than conventional GPUs for mining.
Start-Ups in Blockchain
Many startups coming up with Blockchain Accelerators were targeted by Maryland Smith as part of its Blockchain initiative earlier this year. It shows how this new and upcoming technology is important to cryptocurrency and blockchains that even tech giants like Intel are working towards integrating.
The website of the University states that “Maryland Smith’s new Blockchain Accelerator, led by the Supply Chain Management Center and the Dingman Center for Entrepreneurship, merges the university’s best capabilities in computer science, engineering, and business.”
This Intel Blockchain accelerator will provide content and guidance to early-stage startups from throughout the United States, allowing them to methodically improve their businesses. The accelerator will be entirely virtual and run on the FounderTrac platform. The 45-day program culminates in a Demo Day, during which participating startups will present to investors. Because there is no cost or equity involved, applications for a limited number of seats will be fiercely competitive.