The American IT giant Intel has received a patent for the launch of a new cryptocurrency mining technology. The corporation received this patent last Tuesday from the US Patent and Trademark Office.
In the explanatory note, it is noted that the new technology is designed to reduce energy consumption for Bitcoin mining.
For the first time, the company announced the need to reduce energy costs during mining in March of this year. Then the corresponding application was sent to the Patent and Trademark Office to launch a new product.
The company’s specialists suggest using the technology of the SHA-256 algorithm, which is used by the main cryptocurrency, for Bitcoin mining. Miners will receive a reward in the form of charging a commission for transactions and for each block.
A system has been developed to optimize the performance of specialized ASIC chips for bitcoin mining, which will reduce the amount of computation required for mining. Thus, the new technology will reduce energy costs by about 15%.
The patent application emphasizes:
Embodiments of the present disclosure employ micro-architectural optimizations including selective hardwiring certain parameters in Bitcoin mining computation. The hardwiring of these parameters eliminate the need for recursive rounds of computations of these parameters and reduce the overall circuit area and power consumption by about 15%.
According to experts, the new Bitcoin mining technology will be a timely step towards reducing energy costs during mining. This is especially true now when mining loses its attractiveness due to the decline in the value of digital currencies.