Intel is reportedly working on a new crypto mining chip designed especially for cryptocurrency mining processes. The company has filed a new patent application for the new system. New hardware is expected to provide faster mining and lower energy consumption. This new hardware could change the future of cryptocurrency mining.
Technology giant, Intel, is working on a new hardware for cryptocurrency sector. The company has made a patent application for a System-on-a-Chip (SoC) for mining operations. This SoC will couple low-power processing with hardware accelerators designed specifically for mining. The fact that commercial GPUs by Nvidia or AMD are not designed for crypto mining makes them inefficient in mining processes. Hence, Intel will try to overcome this issue with their new crypto mining chip. Since crypto mining’s biggest problem is energy consumption, this new crypto mining chip will try to address that problem. Intel’s new chip will be more energy-friendly than its other processing units. Also, the new chip’s hardware specifications will be designed solely for crypto mining.
Intel’s SoC will contain a processor farm, an integrated circuit and a logic device to handle the mining algorithms. It works by reducing the search space required to determine the next hash header (a.k.a. nonce) required to solve the algorithm. If the system cannot find the solution, then Intel’s chip alters the Merkle tree or order of unprocessed transactions. Additionally, the chip starts off with another hash header search.
Moreover, Intel’s new chip is expected to have a fair price compared to the GPUs or other processing units. This expectation is due to the fact that the new chip is designed specifically for mining. It will have no other area of expertise, in other words. It is also expected that the prices of GPUs will go down with the release of such a new device.
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