ConsenSys is known for its Ethereum-based development studio. However, to create something new for the industry, they have decided to partner with AMD, a computer chip maker. With their collaborative efforts, they will be establishing a blockchain-based cloud computing infrastructure. The annoucement that ConsenSys would be partnering with AMD and investment firm Halo Holdings was released Friday.

The new cloud computing architecture is being called W3BCLOUD, and it is being supported with AMD’s hardware, though it will be meant specifically as a way to support decentralized apps. ConsenSys’s work will involve using their blockchain expertise to help with transaction processing, while seeking other opportunities to which blockchain can be applied.

The director of product management for blockchain technology at AMD, Jerog Roskowetz, said that AMD would be providing access to “high-performance hardware technologies capable of better scaling and proliferating decentralized networks and services” to support the work that ConsenSys is doing. With these collaborations, it looks like major firms and government agencies will finally get the technology they have been seeking to support their work in multiple areas of progress. Some of these areas include smart identity, enterprise data centers, health ID tracking, licensing, and supply chain management solutions.

Founder of ConsenSys, Joe Lubin, commented that the use of AMD’s technology for the increased computing power will support

“scalable adoption of emerging decentralized systems around the globe.”

He added,

“The combination of hardware and software will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies.”

AMD chips have been used to help with the mining process by retail customers, which is a crucial part of keeping transactions logged. In a report last year, there was even a time where the sale of these chips accounted for 10% of the total revenue being brought in to AMD. However, as the miners drop out, the interest in purchasing these mining chips has gone down significantly. To try and bring back some of that revenue, they have established software updates that improve the blockchain processes as well.

So far, neither AMD nor ConsenSys have replied to requests for comments, according to CoinDesk.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

194 +