Chip giant Intel is all set to explore the newer horizons of blockchain technology and step into the bitcoin mining space. The company has officially announced its plans and the brand new chips will be available by the end of this year. It seems like despite some major downsides blockchain technology and bitcoin mining is riding high on popularity. A company like Intel embracing attests to this fact, putting into focus the boon and bane of blockchain technology making one question if, in the quest for immediate and astronomical gains, people are avoiding the bigger, not so pleasant picture. Because it is a known fact that the high energy requirements and the environmental impact are no joke. However, it looks like Intel has an effective plan to maintain the balance. Read along to know more.
The What and Why
In simple words, blockchain is a decentralized public ledger that facilitates the recording of transactions on a network of computers. Over the past few years, the popularity of blockchain technology has rocketed with more and more companies embracing it. And now, Intel has also entered that list. The company has launched a brand new chip for blockchain applications with the aim of tapping into the growing popularity of cryptocurrencies.
According to Intel’s new blog post which explains in detail everything about the new venture,
“Today, we at Intel are declaring our intent to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators. Intel will engage and promote an open and secure blockchain ecosystem and will help advance this technology in a responsible and sustainable way.”
While embracing blockchain technology, the company is also aware of the high and often challenging energy requirements of some blockchains which often disrupts the balance. Hence the company is putting in efforts to develop the most energy-efficient computing technologies.
“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.”
It seems like the company is pursuing a sustainable road to success and growth which will prove to be a prudent decision in the long run. As of now, this new product launched by the chip giant has found customers in Argo Blockchain, BLOCK, and GRID infrastructure. The supply of other Intel processors will not be affected by this new addition since it has been implemented on a tiny piece of silicon.
