ConsenSys, AMD, Abu Dhabi Halo Holdings will develop an Ethereum-based cloud computing infrastructure

The Ethereum ConsenSys development study collaborated with AMD, a multinational computer chip manufacturer based in the United States, to develop a blockchain-based cloud computing infrastructure.

Announced Friday, the computing architecture W3BCLOUD will be developed through a collaborative effort involving Consalys, AMD and the investment company based in the United Arab Emirates, Halo Holdings. W3BCLOUD will be used to power "optimized data center solutions for emerging blockchain workloads," noted the announcement.

Cloud computing to offer better scalability

The W3BCLOUD solution can be used by software programs developed for commercial companies and governments. As an infrastructure enabled for "the first independent blockchain for cloud computing", W3BCLOUD will provide "greater transaction throughput" with added confidence. Commenting on the new initiative, Joseph Lubin, founder of Brooklyn, based in New York, ConsenSys and co-founder of Ethereum, noted:

Strengthening the computing power of blockchain networks with AMD's state-of-the-art technology will greatly benefit the scalable adoption of emerging decentralized systems worldwide. The combination of hardware and software will feed a new infrastructural level and will allow an accelerated proliferation of blockchain technologies.

Meanwhile, Joerg Roskowetz, director of AMD blockchain technology products management, said:

We are excited to work with Consensys and provide them with high-performance access
hardware technologies that can improve the sizing and proliferation of decentralized networks and
services to meet the growing interest of large companies and governments trying to tackle
[various technological] challenges.

AMD generates "variable" revenue from sales to miners

As mentioned in the press release, AMD's hardware technology will integrate the Ethereum software architecture in order to develop business solutions for corporate data centers, "health ID monitoring", license management, supply management. chain and "intelligent identity". As CryptoGlobe repoorted in late July 2018, AMD expected almost nil revenues from GPU sales to cryptocurrency miners.

During the historic run on the digital currency market, "as much as 10% of AMD's quarterly revenue" came from the cryptocurrency industry. Last July, AMD's managing director, Lisa Su, said that the chipmaker expected that about 6% of its revenue came from the mining industry and almost no revenue from mining activities during the third quarter of 2018 due to the rapid decline in prices of the cryptoassets.

In October 2018, AMD's share price fell significantly when the company released its third-quarter financial report. AMD's revenue for the third quarter of last year was $ 1.65 billion, slightly lower than expected $ 1.7 billion. According to AMD's management team, the company's revenue from GPU sales to miners was "negligible".

Despite the prolonged bear market, which saw ConsenSys about to lay off up to 60% of its staff, both AMD and ConsenSys seem to go ahead with their projects related to crypto and blockchain – even if it means working with fewer resources dedicated to fragile ecosystem of digital assets.