Intel Crypto Mining Chips to Revolutionize Bitcoin Mining
Bitcoin mining is more popular than ever and as a result, many companies are looking to “get in on the action” so to say. With blockchain-powered cryptocurrencies, companies and users have unparallel power and capabilities at their disposal.
One particular well-recognized company is looking to put its mark on the bitcoin industry by giving it a much-needed upgrade. Current information issued by Investopedia indicates that the high-end technology company Intel has filed a patent. The patent will allow the company to manufacture high grade ships that will make bitcoin mining faster and better yet, it will do so with minimal power consumption.
The system that intel has filed a patent for is called system-on-a-chip (SOC). This technology has inbuilt hardware that will fast-track the mining process for better outcomes. To date, 17 million bitcoin has been mined out of 21 million. With such a high rate of mining, Intel’s proposed technology is bound to be successful.
According to Ansel Linder, the host of Bitcoin & Markets podcast, the amount of mining is also “an event that makes the market more aware of the scarcity of bitcoin. It will eventually turn into higher prices.”
It is also clear that Intel’s plan to revolutionize bitcoin mining with its latest patent is good thinking. The idea is innovative and according to various sources, the system may come with an array of features, including processor farm, logic device, and an integrated circuit.
The system is also bound to function by limiting the search space necessary to determine the next nonce needed to resolve the mining-related equation. On the other hand, if the issue does not resolve, then the chip will reshuffle the Merkle tree or arrangement of unprocessed transaction.
Ultimately, at the end of the day, the system will resolve the issues in the way of successful mining, making it easier for users to achieve successful results.