ConsenSys, the famous Ethereum development studio, announced a new partnership this week: it will team up with computer chip manufacturer company AMD with the intention of coming up with an innovative cloud computing infrastructure. Of course, to keep up with modern times, the initiative would be based on blockchain technology.
ConsenSys announced through a statement on Friday, January 4th that it was working alongside AMD and Halo Holdings, a renowned investment company, on the development of a product names W3BCLOUD.
Meet W3BCLOUD, the Newest Cloud Computing Architecture to Support dApps
W3BCLOUD is supposed to be a cloud computing architecture that supports decentralized applications (dApps.) W3BCLOUD will be supported by AMD, one of the most influential companies in the computing hardware industry.
The role of ConsenSys in the strategic alliance will be providing its expertise in how to best deploy strategies for processing blockchain transactions. AMD’s Director of product management for blockchain technology, Jerog Roskowetz, recently said that his company is in a position to offer ConsenSys the capabilities to access “high-performance hardware technologies capable of better scaling and proliferating decentralized networks and services.”
The end product is one of the most awaited tools. It has the potential to help entities and organizations of all fields, including multinational corporations and government agencies, in their quest to implement blockchain technology to “support enterprise data centers, supply management, smart identity, health ID tracking, and licensing,” according to Roskowetz.
“Scalable Adoption of Emerging Decentralized Systems”
At the same time, Joe Lubin, who is ConsenSys Founder, states that enhancing the computing capabilities of blockchain networks by using AMD technology will help promote a “scalable adoption of emerging decentralized systems around the globe.”
He also expressed that “the combination of hardware and software will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies.” AMD has been heavily involved with blockchain ventures for quite some time now, and its chips have become widely popular in running blockchain networks by people with crypto mining intentions. In fact, there was a moment, not so long ago that approximately 10% of AMD’s quarterly revenue resulted from crypto mining affairs, according to the firm.
As the crypto market has crashed; however, interest in mining has decreased somewhat: the company stated in recent weeks that sales to miners had fallen to “negligible” levels by the end of last year.
A System to Fulfill the Needs of both Public and Private Sectors
It could be read in the statement that W3BCLOUD would be “the first” independent cloud computing blockchain infrastructure tailor-made to fulfill needs and requirements of both public agencies and private companies.
Both companies have been involved in blockchain news recently. ConsenSys signed a Memorandum of Understanding with SK Group, a South Korean tech company, to develop a corporate blockchain business model thanks to the use of smart contracts. The alliance includes training opportunities for local developers.
On the other hand, AMD established alliances with seven prominent tech firms to produce eight crypto mining rings.
By Andres Chavez