A patent filed by Intel has shed some light on the company’s idea of introducing a technology to “improve” Bitcoin mining by hardware. The patent is called Bitcoin Mining Hardware Accelerator which would help to mine this coin.
Bitcoin Mining Hardware Accelerator’ promises to improve the mining of this cryptocurrency
Bitcoin Mining Hardware Accelerator was initially released in September 2016, so it’s not exactly a novel idea. However, the fact that it has been published does not mean that there has been no work behind closed doors at Intel for the development of functional silicon with this technology.
In the presentation, it appears that Intel intends to create a chip that could increase the current mining process by improving energy efficiency. As they say, “Because the software and hardware used in Bitcoin mining use brute force to repeatedly and infinitely perform SHA-256 functions, the Bitcoin mining process can be very energy-intensive. The procedures described here optimize Bitcoin’s mining operations by reducing the space used and energy consumed by Bitcoin’s mining hardware.
The intention is to reduce energy consumption during the mining process by 35% with this patent, which would be added to ASICs, SoCs, CPUs, and FPGAs.
It’s an exciting technology, and it’s indispensable. The amount of energy consumed by the mining of cryptocurrency is too high, and you should see a much-needed reduction in the future.