China Unveils New Chip with 5x Blockchain Computing Power May 26, 2023 May 26, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMay 26, 2023 by Kelly Cromley

China Unveils New Chip with 5x Blockchain Computing Power

During a forum held on Thursday, the latest generation processor from China was unveiled, showcasing a performance that is four to five times better than its predecessor. The 2023 Zhongguancun Forum’s inauguration ceremony witnessed the unveiling of a novel 256-core blockchain acceleration processor by the Beijing Academy of Blockchain and Edge Computing (BABEC).

As per the information provided by BABEC, the processor has the potential to be utilized in extensive blockchain computing power clusters. This would facilitate the smooth functioning of the national blockchain computing power network, ultimately leading to the advancement of the country’s digital economy.

Blockchain technology is presently utilized in various domains such as global data trading, financial settlement, international commerce, and government administration, among other areas. The growth of web 3.0 and the metaverse has led to a significant expansion of blockchain networks in terms of size and frequency. Consequently, there is a surging demand for accelerated blockchain transactions.

Zhang Bo, the Director of the hardware research center at BABEC, has affirmed that the latest processor generation has notably expedited the blockchain transaction process. The semiconductor incorporates a top-notch streaming data encryption and decryption engine, rendering it the most secure chip currently obtainable.

The National Blockchain Technology Innovation Center is set to be launched this month. The objective of the center is to expedite the establishment of a vast blockchain computing power cluster, establish a nationwide blockchain computing power network, and establish nodes in crucial sectors and regions, including finance and energy. The ultimate goal is to develop an accessible and comprehensive national blockchain infrastructure that eliminates the issue of “blockchain islands.”

Zhang stated that the forthcoming generation of chips will have a pivotal function in accomplishing the objectives.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.