The world's second-largest semiconductor chip maker, Intel, has received a patent for a Bitcoin mining system using an "energy-efficient hardware accelerator." According to a patent titled “Optimized SHA256 Datapath,” the newly invented “high-throughput” Bitcoin mining process could reduce overall energy consumption by 15 percent.
Intel Corporation is well known as a competitive chipset manufacturer. The company has been granted a patent for an energy-efficient Bitcoin development project by the United States Patent and Trademark Office (USPTO), which describes a specialized processing system for developing the SHA256 algorithm. The patent application was filed on June 29, 2016, and the concept was presented by three developers from Hillsboro, Oregon.
The invention, according to the explanatory note, is a more efficient data processor with hardware accelerators that can reduce overall power consumption compared to modern application-specific integrated circuits (ASICs). The patent specification is 29 pages long and contains drawings that illustrate the processing system. “Uses of the present invention include energy-efficient ASIC-based SHA motors that consume less power for Bitcoin mining operations,” the patent explains.
This is not the corporation’s first foray into cryptocurrency solutions. At the Money 20/20 event in 2016, Bitpay announced that Copay wallet users would receive "hardware-level security" with the Intel Software Guard Extension (SGX). A year later, digital wallet manufacturer Ledger announced a collaboration with Intel.
However, the company's latest patent appears to focus more on Intel's core production of high-performance semiconductor chips. At the moment, Intel holds second place in the market of semiconductor manufacturers in the world, competing with Samsung, which occupies a leading position.
You May Also Like
What happened to Bitcoin mining in 2021?
Miners who mine Bitcoin were able to earn more than $15 billion in 2021. However, judging by the dynamics of the main cryptocurrency this year, this is far from the limit of their income. What happened to mining in 2021 and what awaits it next?
Georgian crypto cuisine. Choosing dishes
It's no secret that Georgia is one of the most loyal countries in the post-Soviet space, where it is not only cozy, but also profitable to do business. This became possible literally over the last 10 years thanks to the colossal reform efforts of the country’s successive leaders, each of whom sought to make it better and richer. Let’s try to figure out how exactly things are going with the cryptocurrency business here in our material today.
