Intel patents the accelerator of bitcoin mining

Intel patents the accelerator of bitcoin mining

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According to an article by Coindesk, a specialized resource in 2016, Intel’s lawyers filed a patent application with the US patent office for a patent on a device that allows accelerating the production of bitcoins. Intel’s patent application was published on the official Web site of the USPTO on March 29 this year. Judging by the contents of the document, the American chipmaker is trying to obtain a patent for the hardware accelerator of the mining of bitcoins.

The patent application focuses attention on the fact that the production of digital currencies by bitcoin in traditional ways, without the use of hardware accelerators, is inefficient, as it leads to a clutter of space and excessive consumption of electrical energy. SHA-256, the production of virtual currency, bitcoin accompanies high energy costs. In addition, it requires a large amount of space to accommodate the relevant equipment. The solution offered by Intel is capable of optimizing the bitcoins mining both in terms of power consumption and in terms of the working space.

The application claims that the accelerator, developed by Intel experts, contributes to the energy consumption of mining equipment to 35%. At the same time, such accelerators are not attached to any particular platform. They can be used in conjunction with custom ASICs, programmable FPGA matrices, microprocessors and other solutions.

Recall that in 2015, the American chip maker supplied start-up companies 21 Inc. certain solutions for cryptocurrency mining. The startup then managed to attract record investments, though, in the end, it still went bad. Apparently, the company Intel Corp. has learned from this cooperation something useful for own business.

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