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Bitcoin Mining, Cryptocurrency-Cracked mining, American tech company Intel has made headlines with a new patent that seeks to improve upon the efficiency of mining.
According to the U.S. Patent and Trademark Office (USPTO) filing that was published on Nov. 27, the tech giant's patent specifically seeks to establish "energy-efficient high-performance Bitcoin mining."
Bitcoin mining, a feature that has been drawn almost as much criticism-and skepticism-to the industry as a price volatility, it's no surprise that companies are seeking a more economical approach. BTC mining is contributing to global warming, or that the industry function accounts for more energy consumption than the entire country, it is undoubtedly a feature that will be modified for cryptocurrency to reach mainstream. Some enterprising individuals have turned out to be the largest input of power consumption in their favor, as well as New York which provide more cost effective hydroelectric power.
In the case of Intel and most recent patent filing, the company secures to create hardware and technology that will provide an advantage in mining coins. Specifics of the patent includes a "hardware accelerator implementing SHA-256 hash using optimized data paths," with the goal of reducing total energy consumption by up to 15 percent.
The filing continues,
"Clusters of SHA engines may consume a lot of powers (e.g., at a rate of greater than 200 W) … Embodiments of the present disclosure include energy-efficient ASIC-based SHA engines that consume less power for Bitcoin mining operations."
Intel has been involved in patent filings in Bitcoin mining, having submitted a proposal back in Marchenergy consumption for hash and maximizing performance per watt, "showing a predilection for the company. A breakthrough in such a hardware or technology would you like to climb the network? cost of operations significantly-fees which have been passed on to consumers and the general market.
For the first time in Bitcoin and for the last two weeks, culminating in $ 3500 for the first time since 2017, reports were circulating that miners were abandoning their efforts in droves and selling their equipment for pennies on the dollar. While Bitcoin's hash rate has been falling along with its valuation, it has become more profitable currencies as opposed to outright abandoning the industry.
Intel's efforts to produce more efficient hardware mining could be a step on the competition during the lowest period of this bear cycle. But, given the timing of the patent filing, it shows a small commitment from the company to exploring crypto even as prices continue to fall.
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