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Intel Gets Permission for Energy-Saving Mining Chips on Its Patent

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Fri, 11/30/2018 - 09:51
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Yuri Molchan
Global tech behemoth Intel, the producer of popular PC processors, wins a patent to work in the sphere of crypto mining from the US Patent Office
Intel Gets Permission for Energy-Saving Mining Chips on Its Patent
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Contents

Earlier this week, the world-famous Intel giant won a patent for producing a processor that, reportedly, can mine crypto coins at high efficiency, allowing one to minimize energy waste.

The processor will be using the titled SHA-256 algorithm, currently utilized by the Bitcoin network.

Not Intel’s first attempt in mining

Intel has already filed patents to work in the crypto mining area. It first began to make mining chips run by 21 Inc. Later, the factory that produces them rebranded as Earn.com and was bought by Coinbase exchange.

Related
600,000 Chinese BTC Miners Cease Work Over Past Two Weeks: F2Pool Report

Patent details

The document says that BTC miners will profit from working via these chips by getting a reward for blocks and receiving transaction fees. However, mining gear for the BTC chain usually works with ASICs, which consume a great amount of electricity.

Intel claims it has found a solution to hardwire the parameters of these devices, which will diminish the amount of electricity necessary for mining by about 15 percent. The company reps claim that this figure can be increased in the future, making BTC mining even more energy-efficient.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.