Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The huge manufacturer of integrated circuits presented Intel Blockscale ASIC an acronym for application-specific integrated circuit — a device designed for the sole purpose of mining cryptocurrencies. its new second-generation Bitcoin mining chip designed to save energy.
The giant developer of high-end computer products, Intel, launched this Monday a new mining chip for Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. second generation that promises to be more efficient than others on the market an area or arena, online or offline, in which commercial dealings are conducted. in terms of energy expenditure. The news media CoinDesk y Bitcoin Magazine they said.
Referred to as Intel Blockscale ASIC the chip will provide up to 580 gigahashes per second (GH/s) hash rate with up to 26 joules per terahash (J/TH) of power efficiency, according to a press release cited by the media. It also includes chip temperature and voltage sensing capabilities, as well as support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for up to 256 integrated circuits per chain.
Intel’s new chip design could help companies in the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. mining industry reduce energy consumption, while potentially alleviating the environmental debate around Bitcoin . The general manager ofBlockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. y Business Solutions en Accelerated Computing Systems and Graphics Group de Intel José Ríos, commented in the statement:
El Intel Blockscale ASIC desempeñará un papel importante para ayudar a las empresas mineras de bitcoin a alcanzar los objetivos de sostenibilidad y escalamiento de la tasa de hash a hash is the output result of a hashing algorithm, which creates a unique, fixed-length string to encrypt and secure a certain selection of arbitrary data. en los próximos años.
Intel introduces new cryptocurrency chip
According to CoinDesk The power consumption of 26 J/TH of the new chip makes it more efficient than the latest model de Bitmain the Antminer S19 Pro+ Hyd. which offers a hashrate of 198 TH/s with an efficiency of 27.5 J/TH. T is also more efficient than Whatsminer M30S++ de MicrtoBT which delivers 112 TH/s with an efficiency of 31 J/TH.
The media outlet also notes that the hash rate of the new chips could look low compared to other hardware, or even to the company’s initial promises. However, Intel pointed out that the hashrate is only for one chip and that several of them could achieve higher power if used to build a mining system.
“ Typically, mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. systems include hundreds of ASICs that allow for a much higher hash rate at the system level. “said a spokesman for Intel to that portal.
It should be noted that the new product itself does not offer a complete ASIC mining system, as is common in the cryptocurrency industry, but only a chip.
The launch comes after Intel will officially present its efficient mining chip, called ” Bonanza Mine” o BMZ1 in February. As covered DiarioBitcoin At the time, the company said the machine would use much less power than others of its kind. However, some specifications placed it below the current top-of-the-line machines available on the market.
Will it ease the environmental debate around crypto?
Shipments of the new Blockscale will start in the third quarter of this year, although the company has not yet disclosed the price of the equipment. The companies Argo Blockchain , Hive Blockchain y GRIID Infrastructure as well as Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. (formerly Square ) are on the list of the first customers to receive Intel’s new product.
According to CoinDesk which quoted the official statement, Intel will focus during 2023 and beyond on supplying potential customers who share the company’s sustainability goals.
The news comes at a time of ASIC supply deficiency within the cryptocurrency mining industry due to a global chip shortage. On the other hand, it comes amid growing debates surrounding the environmental impact of proof-of-work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. (PoW) cryptocurrency mining as Bitcoin .
In the United States, there are several bills under discussion that seek to restrict the mining of Bitcoin The new energy-efficient technologies have been used in the past, arguing their high energy consumption. Among them, a legislative project in New York seeks sweeping two-year ban on this activity . Also the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC). (SEC) proposed a new regulations which would require public sector companies to report on greenhouse gas a term used on the Ethereum platform that refers to a unit of measuring the computational effort of conducting transactions or smart contracts, or launch DApps in the Ethereum network. It is the “fuel” of the Ethereum network. *see Gas Limit and Gas Price. emissions and risks related to climate change.
Legislators from countries in Europe have also beendiscutiendo propuestas para limitar el uso y la minería de criptomonedas PoW due to its environmental impact.
- Intel CEO says Bitcoin is “climate crisis,” but his company wants to solve it with new mining chips
- U.S. company uses coal burning destroying a certain number of digital coins to reduce their issue. This method is used to fight inflation and increase the value of cryptocurrency. All token burning transactions are recorded in the blockchain as a transaction. Therefore, anyone can verify that the coins were destroyed. waste to mine Bitcoin while cleaning up its environment
- ESMA Vice President says PoW cryptocurrency should be banned in European Union
Article by Hannah Estefania Perez / DiarioBitcoin
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