US Patent and Trademark Office has published an application for a ‘Bitcoin Mining Hardware Accelerator with optimized message digest and Message scheduler datapath’. Intel had originally submitted the application in 2016.
It uses a method which supplements the current Bitcoin mining process, by consuming less power thereby spending less money in the process.
According to Intel:
“Because the software and hardware utilized in Bitcoin mining uses brute force to repeatedly….the process of Bitcoin mining can be very power-intensive and utilize large amounts of hardware space.”
Intel believes that a large amount of electricity is required to solve algorithms for digital currencies in the digital ecosystem. Few even call it as an ‘environmental disaster’.
Intel continues to say:
“The embodiments described herein optimize Bitcoin mining operations by reducing the space utilized and power consumed by Bitcoin mining hardware.”
Intel had previously designed chips for 21 inc, which later developed into the Bitcoin computing system. They said it will not confine itself to producing Applications -Specific Integrated Circuits, but will also develop processors and field programmable gate array platforms which can be integrated onto several mining systems.
ASIC, or application-specific integrated circuit, is an Integrated Circuit [IC] designed to process a specific application. Compared to programmable logic chips or standard ICs which is more versatile and can be used for a wide variety of different programs, an ASIC is specifically designed to do one thing. Hence the Bitcoin mining accelerator technology is expected to cut power usage by as much as 35% and can be added to ASICs, SoCs, CPUs, and FPGAs as well.
This news has also bought relief to gamers as they have been the one most affected by the increase in the price of graphics cards.
According to a Twitterati:
“I think it’s a great idea… So gamers can go back to buying graphic cards at decent prices.”
Ryan Shaeffer, another Twitter user comments:
“wont matter, it isn’t profitable to mine bitcoin now.”
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