ConsenSys announced a merger with the chip manufacturer Advanced Micro Devices [AMD]. This partnership aims towards developing a new cloud computing infrastructure based on the blockchain technology.
In the press release ConsenSys also mentioned that it was also partnering with Halo Holdings, an Abu Dhabi-based investment farm. Through these partnerships, the platform will provide the use of cases and the information on how blockchain transactions may need to be processed.
Web 3.0 Blockchain Cloud
As stated in the announcement, the merger between the three companies aims ''to develop optimized datacenter solutions for emerging blockchain workloads through the creation of W3BCLOUD. ''
W3BCLOUD presumably stands for Web 3.0 Blockchain Cloud. It will improve the 'first independent cloud computing blockchain infrastructure' and in the process to combine increased transactions through maximum security.
W3BCLOUD will optimize solutions powered by AMD hardware, which is able to support large workloads and applications for both government and commercial enterprises. W3BCLOUD is a computing architecture that is designed specifically for supporting Decentralized Applications. Therefore, it will increase the level of mass adoption towards Decentralized Applications, (DApps).
The startup blockchain development company, ConsenSys, will focus on the heavy lifting when it comes to blockchain technologies while AMD with its industry expertise will be in charge of providing hardware. Although the release did not specify Halo's role, it is presumed that the company will offer financial support and advice towards this venture.
Joseph Lubin, founder of ConsenSys expressed his excitement towards this operation stating that,
"The combination of hardware and software will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies."
According to him AMD's technology will lead the way towards "Scalable adoption of emerging decentralized systems around the globe."
Jerog Roskowetz, AMD 's Director of Product Management for blockchain technology also expressed his excitement towards the merger.
For so long AMD chips have been known for executing blockchain networks. Almost 10% of its quarterly revenue comes from the crypto coin mining space. This is no longer the case for the end of last year.
With an aim to bolster blockchain processes involved in crypto mining, the company recently released GPU software updates for its miners