Intel patents a processor to mine bitcoin more efficiently

[Blexfraptor]

The cryptocurrencies are in free fall. They have not stopped losing value in what we have been in 2018, and have already lost 7 times their value since highs at the beginning of the year. This fall is generating profitability problems for those who mine cryptocurrencies, and that so much energy consumption problem is generating around the world. However, Intel may have a solution for this.

Intel patents a more efficient processor for encryption and cryptocurrencies like Bitcoin
The drop in the price of cryptocurrencies is forcing the closure of many mining "pools". The high cost of energy and equipment is failing to compensate for the fall in price and the increasingly high difficulty of mining. The patent of Intel could change all this, since in her they affirm that a new type of processor could allow to mine Bitcoin offering high yield, but with an efficiency much greater than the solutions used until now.

This processor is designed to mine cryptocurrencies based on the SHA-256 encryption algorithm, such as Bitcoin. This chip goes beyond a current ASIC. Part of the current mining process requires that transaction data be processed once. In ASICs, like those of Antminer, these data are processed in stages, making the process less efficient.

This patent may not materialize because it arrives late to the cryptocurrency market
Therefore, this part of the process is done in a section of this new processor to reduce the time, energy and redundant processes to verify a transaction or undermine a new block. Basically, a hardware acceleration that favors faster processing for this type of encryption. Energy savings have been estimated at around 15%, with the calculation of thousands of hashes per second consuming just over 200 watts. The chips based on this patent will also be smaller than the current ones, being able to introduce more in the same device to obtain a power gain.

In the event that the cryptocurrency market continues its current trend, it would not be uncommon for no commercial product to emerge from this patent, since it is becoming less profitable to mine cryptocurrencies. If profitability continues to fall, it is possible that there may even be problems in verifying transactions.