Intel Launch Chip to Facilitate Easier Minting of NFTs

The world is on the verge of a new gold rush. For those unfamiliar, NFTs are digital assets that exist in an open ecosystem and can be used to represent real-world or virtual goods.

NFTs are a new type of cryptocurrency that is powered by the Ethereum blockchain. The “what are nft tokens” article will help you understand what they are and how they work.

Intel, a well-known processor maker, is releasing a new chip hardware. The chip’s architecture is aimed at enabling the mining of cryptocurrencies, most notably Bitcoin, as well as the minting of NFTs, easier in order to capitalize on the blockchain technology and crypto boom.

The chip will be distributed later this year, according to the business’s announcement on February 11th, with Jack Dorsey’s blockchain-focused startup Block Inc (formerly Square Inc) poised to be one of the chip’s first customers. 

In terms of the chip’s functionality, Intel describes it as an energy-efficient ‘accelerator’ processor with incredibly rapid processing, meant to accelerate blockchain processes that demand a lot of computer power and energy. While lowering BTC mining costs, the chip will also eliminate the need for a specialized cooling system, thus positioning it to become the dominant chip for crypto mining and blockchain activities.

Despite having such unique features, the chip’s idea has previously been seen, most notably via the services of chip manufacturer Nvidia, whose graphics cards are already extensively utilized in mining operations, and a separate chip of theirs is primarily focused on mining Ethereum.  

Intel has created a new section named the Custom Compute Group under its Accelerated Computing Systems and Graphics business areas to expand the company’s reach in the NFT and crypto market.

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