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08 January 2019, 04:30 | Casey Mitchell
ConsenSys and AMD Partner to Develop Blockchain Based Cloud Computing
AMD had mentioned that these partnerships would provide better and updated "blockchain compute solutions" to the market, which will be made particularly to meet the requirements of "innovative blockchain platforms". Both startups have revealed that they will be collaborating to develop a cloud computing infrastructure that will be based on the Blockchain technology. The development is said to be in line with the company's plans to develop the latest cloud computing ecosystem powered by blockchain technology.
Under the agreement, ConsenSys will provide expertise on how blockchain transactions may require to be processed and how it will beneficial for different industries. He further added the amalgamation of hardware and software would add a new layer of infrastructure enabling accelerate adoption of blockchain technologies.
By doing this, ConsenSys will be able to fulfill the demands of various firms and government agencies to use the tech to support smart identity, enterprise data centers, and health ID tracking, to licensing and supply chain management.
Joseph Lubin, the founder of ConsenSys, who is also the co-founder of Ethereum, stated that "Bolstering the compute power of blockchain networks with AMD's leading-edge technology will be of great benefit to the scalable adoption of emerging decentralized systems around the globe".
Recent research in the Blockchain scene has shown that AMD chips have started to become popular in already functional Blockchain-based networks. We can recall that at a point, up to about 10% of AMD's quarterly revenue was derived from the crypto mining sector according to a company report from a year ago.
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According to apress release, ConsenSys a blockchain software company announced collaboration with semiconductor producer AMD.
A Memorandum of Understanding was recently undertaken in December between ConsenSys and SK Group, a South Korean technological holding. The proposal aims to use smart contracts to build blockchain business model based enterprise. 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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