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The Ethereum start-up incubator, ConsenSys, Advanced Micro Devices (AMD), the GPU manufacturer used by crypto-mining devices and based on Abu Dhabi Halo Holdings they joined together to create W2BCLOUD, a blockchain-based cloud computing software, as indicated by the municipality Press release January 4th.
W2BCLOUD will use AMD's hardware that can support both public and private applications and will be a catalyst for the increased use of decentralized applications (DApp), the press release said.
ConsenSys will provide expertise on the blockchain, the technology that powers the virtual space of the world currency, in addition, will improve the security of W2BCLOUD and will therefore be a case used for the greater adoption of this technology.
Halo Holdings, which is based in the United Arab Emirates Gulf nation, will provide financial expertise. Halo operates a large-scale investment in technology and private equity with stakeholders in Asia, Europe, North America and the Middle East.
The founder of ConsenSys and the co-founder of Ethereum, now the top altcoin in the marker, Joseph Lubin he said, in place of this recent collaboration, "strengthening the computing power of blockchain networks with AMD's cutting-edge technology will greatly benefit the scalable adoption of emerging decentralized systems worldwide" .
Joerg Roskowetz, director of product management, Blockchain Technology at AMD stated that AMD will work well with ConsesSys and "will provide them access to high-performance hardware technologies that can improve the sizing and proliferation of decentralized networks and services to meet the growing interest of large companies and governments seeking to address challenges ranging from intelligent identities to corporate data centers and tracking of health IDs, licensing and supply chain management. "
At the end of last month, ConsesnSys announced a series of job cuts in light of the decrease in the cryptocurrency market. The Verge reported that the Ethereum-centric company would cut the labor force by 50 percent to 60 percent or by 1,200 people in total.
AMD was also badly hit last month as the crypto-miners were coming out in droves seeing falling yields. The Radeon RX580 GPU of the manufacturer used in mining devices decreased by 67%. The GPU sold for $ 550 in February when Bitcoin [BTC] it was hovering above $ 15,000 now selling for $ 179.99.
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