Intel launches new blockchain chip

A new blockchain chip has been launched by Intel Corp, a company that makes computer chipsets and processors. This chip can be used for blockchain applications such as bitcoin mining and NFTs mining.  Companies working with this technology will get the benefit of Intel Blockchain Chip.

Jack Dorsey's company will buy new Intel chip

Intel may put its blockchain chip for sale in the market in the next few months. It has emerged that former Twitter CEO Jack Dorsey's company Block Inc. may be the first to start using it. Let us tell you, the name of Block Inc. was earlier Square Inc., which has been changed recently. The company's new name shows its focus on blockchain and related technologies.

Chips of other companies are being used

Graphics cards from chip designer Nvidia Corp. are currently used for blockchain and NFT mining. Nvidia has also launched a separate chip for Ethereum mining. This is the reason why a new segment has been created by Intel called Custom Compute Group, which is part of its Accelerated Computing Systems and Graphics business unit. That is, in the coming days such new blockchain chips can be launched.

What is the meaning of Blockchain?

Blockchain can be easily understood by dividing it into two parts. The first part 'Block' means data blocks, in which the data associated with a digital document is stored. Due to the combination of many such blocks, a chain is formed, from which the 'chain' is made up of the blockchain. That is, after the data space in one block is exhausted, another block is added to this chain and all the data is interconnected.

How Blockchain Technology Works?

Blockchain technology is actually a process of exchange based on data blocks. All these blocks are encrypted, that is, the data stored in them cannot be stolen. With this system, any kind of document and currency can also be digitized and its record can be kept in blocks. The data or document once stored can be accessed only after decryption and it remains completely secure.

What is bitcoin or NFT mining?

Bitcoin or NFT mining is the process by which new bitcoins or NFTs come into circulation. The job of miners is to download the complete history of the blockchain and assemble it into blocks. The previous miner receives a block reward when a transaction included in a block is verified by other miners. Simply put, miners verify a transaction on the blockchain, or purchase an NFT.