Intel has announced a new chipset Blockscale ASIC (application-specific integrated circuit), which is specially designed for crypto mining and promises energy efficient hashing for proof-of-work consensus networks.
Intel’s new Blockchain chip are compatible with ASIC -based systems and SHA-256 hashing, providing the energy efficiency and computing power needed to achieve scalability and sustainability, according to the company. Intel claims it will be able to supply these chips in volume without compromising the supply of new CPUs or GPUs.
“Momentum around blockchain continues to build. It is the enabler of decentralised and distributed computing, making way for innovative business models. To power this new era of computing, Intel is delivering solutions that can offer an optimal balance of hashing throughput and energy efficiency regardless of a customer’s operating environment. Intel’s decades of R&D in cryptography, hashing techniques and ultra-low voltage circuits make it possible for blockchain applications to scale their computing power without compromising on sustainability,” Balaji Kanigicherla, Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group, said in a press statement.
In cryptocurrency mining, chain of private computers — a network — is constantly working towards authenticating the transactions by solving complex cryptographic puzzles. Most legacy cryptocurrencies, such as Bitcoin, rely on a proof-of-work mechanism. PoW mechanism is a traditional form of crypto mining where thousands of computers are required in a mining facility, consuming high electric power.
Hashing is essentially, the computational power crypto miners require to mine a coin. This computational power is also referred to as hash rate. The higher hash rate a mining device offers, the more coins can be mined.
Key features for Intel Blockscale ASIC
Key specifications for the Intel Blockscale ASIC include a dedicated Secure Hash Algorithm-256 (SHA-256) ASIC processor, up to 580 Gigahashes per second hash rate operating and up to 26 joules per terahash power efficiency, on-chip temperature- and voltage-sensing capabilities, support for up to 256 integrated circuits per chain, reference hardware design and software stack to jump-start customers system development.
According to Intel, shipments to customers will begin in the third quarter of 2022. Meanwhile, Argo Blockchain, Block Inc., Hive Blockchain Technologies and GRIID Infrastructure will be among the first companies to develop new systems based on Intel’s ASIC.