Ethereum Studio ConsenSys Teams Up With Chip Manufacturer AMD

Ethereum Studio ConsenSys Teams Up With Chip Manufacturer AMD

Ethereum development studio ConsenSys is partnering with computer chip maker AMD to develop a new cloud computing infrastructure based on blockchain technology. Also, W3BCLOUD will be the first independent cloud computing infrastructure which will support the public as well as private applications and also helps in the adoption of Decentralized Applications.

According to a press release issued by ConsenSys on January 04, the Blockchain software company is teaming up with investment management company based out of Abu Dhabi, Halo Holdings, and the semiconductor manufacturing major Advanced Micro Devices (AMD), to develop a Blockchain-based infrastructure for cloud computing.

ConsenSys will provide expertise on blockchain, the technology powering the world's virtual currency space, in addition, it will enhance W2BCLOUD's security and will thus be a used case for the increased adoption of this technology.

Joerg Roskowetz, director of product management, Blockchain Technology, at AMD, said that AMD would provide ConsenSys with "access to high-performance hardware technologies capable of better scaling and proliferating decentralized networks and services".

The platform thus developed will be able to cater the burgeoning demand from dominating companies as well as government listed agencies to deploy the technology with the aim to support enterprise data centers, smart identity, health ID tracking, supply chain management solutions, and licensing explained Roskowetz.

AMD chips have already gained a name among blockchain network operators, primarily among retail client who are looking to mine cryptocurrencies.

AMD also entered into a partnership with seven other major technology companies in November a year ago to create 8 new cryptocurrency mining rigs.

Interest has fallen in the months since, however, with sales to miners dropping to "negligible" levels by the end of 2018.

That being said, the company has previously released software updates for its miners specifically aimed at bolstering blockchain processes.

A Memorandum of Understanding was recently undertaken in December between ConsenSys and SK Group, a South Korean technological holding. The MoU has special provision for Ethereum blockchain technology education via ConsenSys Academy as well as Tech Training Center of SK Holdings C&C.

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