ConsenSys, Ethereum development studio has recently partnered with California-based computer chip manufacturer, Advanced Micro Devices Inc (AMD). The development is said to be in line with the company’s plans to develop the latest cloud computing ecosystem powered by blockchain technology.
The statement was released on Friday 4th January 2019, by ConsenSys informing about its collaboration with AMD as well as Halo Holdings, Abu Dhabi-based investment firm on a cloud computing ecosystem powered dubbed W3BCLOUD. The ecosystem will be powered by the maker’s computing hardware crafted especially for enabling decentralized applications.
Under the agreement, ConsenSys will provide expertise on how blockchain transactions may require to be processed and how it will beneficial for different industries.
Commenting on the latest happening, Jerog Roskowetz the director of product management for blockchain technology at AMD said that the company will offer ConsenSys access to high-performing hardware tools for enhanced scaling as well as the proliferation of centralized services and networks.
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.
Joe Lubin, ConsenSys founder reported that the partnership with AMD will push the company’s efforts towards scalable adoption of emerging decentralized systems across the globe. He further added the amalgamation of hardware and software would add a new layer of infrastructure enabling accelerate adoption of blockchain technologies.
A shift to blockchain technology
AMD chips have already gained a name among blockchain network operators, primarily among retail client who are looking to mine cryptocurrencies. According to the company’s financial report of 2018, there was a time when crypto mining contributed around 10% in the company’s quarterly revenue.
Since then the interest though has fallen, the sales nevertheless to miners dropped to negligible levels by the end of last year.
There are also reports of the company having issued software updates aiming to miners focusing at accelerating the blockchain process. The companies, however, didn’t provide any detail on being asked during the press conference.
ConcenSys was recently in news for signing a memorandum of understanding with South Korea-based tech firm SK Group. The latest development is said to be aimed at creating an enterprise business model by deploying smart contracts. The MoU has special provision for Ethereum blockchain technology education via ConsenSys Academy as well as Tech Training Center of SK Holdings C&C.
Last year in November, AMD entered an agreement with seven giant tech forms to buy 8 latest cryptocurrency mining rigs. According to AMD, the agreement aims at encouraging the adoption of latest blockchain computer solutions in the industry with the aim to meet the requirement of different innovative blockchain platforms. AMD has also released a video related to blockchain technology informing its core features and key advantages.