What just happened? Intel is taking a seat at the blockchain table and looking to mingle with other hardware players in a new category. The chipmaker on Friday announced its intention to contribute to the development of blockchain technology by building an efficient blockchain accelerator.
Raja M. Koduri, senior vice president and general manager of the Accelerated Computing and Graphics Group at Intel, said the architecture will be implemented on a tiny piece of silicon to have minimal impact on the supply chain.
Koduri hinted at Intel’s blockchain ambitions late last year, but this is the first credible confirmation we’ve heard on the subject with further details.
Moreover, Koduri said Intel expects its innovative circuitry will provide an accelerator with over 1,000 times the performance per watt of conventional SHA-256 mining GPUs.
“We remember that some blockchains require a huge amount of computing power, which unfortunately leads to a huge amount of energy. Our clients need solutions that are scalable and resilient, which is why we have focused our efforts on realizing the full potential of blockchain by developing the most energy efficient computing technologies at scale. “- Raja M. Koduri of Intel.
The company has formed a new dedicated computing group in Intel’s Accelerated Computing and Graphics Division to support this initiative. Among her first clients will be Blockchain ArgoBlock (formerly Square) and Infrastructure GRIIDbitcoin mining company.
With Apple’s new Tap to Pay feature on iPhone encroaching on Block territory and CEO Jack Dorsey’s interest in cryptocurrencies, it’s no wonder they’re among the first in line for new Intel hardware.
Intel plans to release its blockchain accelerator later this year and will share more information about the project at the International Solid State Circuit Conference.ISSCC) later this month.