Intel Corp on Friday launched a brand new chip for blockchain functions 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 clients embrace Block Inc, the Jack Dorsey-led agency that lately modified its title from Square Inc to spotlight its rising deal with the blockchain.
Blockchains function public ledgers that maintain information of transactions on a community of computer systems and have grown in prominence lately. Their rise has additionally triggered a buzz round phrases like “Web.3” and “NFTs” that tout the decentralization of applied sciences.
Intel stated its chip is an energy-efficient “accelerator” designed to hurry up blockchain duties that require big quantities of computing energy and thereby eat numerous vitality.
Chip designer Nvidia Corp, 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 house, Intel has additionally shaped a brand new section referred to as Custom Compute Group inside its Accelerated Computing Systems and Graphics enterprise unit.