Intel Corp recently launched a new chipset for blockchain applications, such as Bitcoin mining and non-fungible token (NFT) printing. They seek to take advantage of the use of cryptocurrencies. The chipset will ship at the end of this year. Its first customers include Block Inc, the company led by Jack Dorsey which recently changed its name from Square Inc to highlight its growing focus on blockchain trends. Blockchain functions as a public ledger that keeps records of transactions on a computer network. Currently its popularity has become increasingly prominent in recent years.
The rise of technology has also sparked the birth of words like Web.3 and NFT that herald the decentralization of technology. Intel says its chips are energy-efficient accelerators designed to accelerate blockchain tasks that require large amounts of energy-consuming computing power. Chip designer Nvidia Corp, whose graphics cards are used extensively for mining activity also has chips meant for Ethereum mining.
As part of advancing its footprint in the space, Intel has also formed a new segment called the Custom Compute Group within its Accelerated Computing Systems and Graphics business unit.