According to Intel (INTC.US), the world is now entering the era of the Metaverse and the technology known as Web 3.0. The company has also identified blockchain technology related to cryptocurrencies as a potential milestone in the evolution of society in the context of the increasing digitalisation of life.
Intel stresses that the availability of more computing power will play a very important role in the future. The company wants to help develop blockchain technology by producing energy-efficient accelerators. Intel will promote the sustainable, green and secure development of blockchain ecosystems.
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Create account Try a demo Download mobile app Download mobile appIntel conveyed that some networks require huge computing power, which unfortunately translates into high amounts of energy consumed. Probably the company had in mind here such cryptocurrencies as Bitcoin or Ethereum. They consume amounts of electricity comparable to countries such as Argentina or Switzerland respectively. Intel wants to develop blockchain based on the most energy-efficient computing technology possible with the environment in mind. Intel is working with Argo Blockchain (ARB.UK) and wants to deliver green accelerators later this year. The carriers are to be implemented on a miniature piece of silicon so that production and delivery of other Intel products is not disrupted.
Intel has announced a conference this month at which it will showcase innovations in chips designed for cryptocurrency mining. Intel Labs has spent years researching cryptography. The company expects the innovations to create an accelerator more than 1,000 times more powerful than current processors. A division of Intel's Accelerated Computing Systems and Graphics business unit is working on this. If such a unit really comes into being, then Intel is likely to change the face of the hitherto controversial cryptocurrency mining industry.
Intel has not had the best past year. What is more, the beginning of 2021 is not going in the investors' favour either, especially considering that Intel is rather a growth company. Previously, we could see quite a correlation between Intel's share price and Bitcoin. If Intel were to deal more with cryptocurrencies, it could benefit from a wave of potential growth. Source: xStation 5
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