Home Ethereum AMD and ConsenSys’ Blockchain Data Center Mission Gets $20M of Seed Funding

AMD and ConsenSys’ Blockchain Data Center Mission Gets $20M of Seed Funding

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AMD and ConsenSys’ W3bcloud joint challenge received $20 million during the sale of convertible notes.

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AMD and ConsenSys' Blockchain Data Center Venture Gets $20M of Seed Funding

The joint blockchain cloud computing challenge of computing giant AMD and Ethereum-focused pattern agency ConsenSys has bought $20.5 million in funding.

In step with a June 25 announcement, AMD and ConsenSys’ W3bcloud joint challenge received the funds during the sale of convertible notes to the founding corporations and a few different household locations of work within the United Arab Emirates. Jörg Roskowetz — the head of the blockchain enterprise unit at AMD — stated, “Parallel and distributed computing captivated with blockchain utilize instances is a like a flash-rising segment of the alternate.”

W3bcloud’s co-founder and CEO Sami Issa knowledgeable Cointelegraph, “AMD will make the excessive-efficiency hardware applied sciences required to optimize for the decentralized computing infrastructure.” ConsenSys, on the a wonderful deal of hand, will provide blockchain tool solutions and take grasp of in research and pattern efforts.

Mighty wished infrastructure for a rising ecosystem

Sami defined that the blockchain ecosystem needs industrial grade computing infrastructure to scale and reach mass application. He identified that the at this time on hand cloud infrastructure is no longer optimized for Ethereum transactions and decentralized workloads. He stated that the agency is commence to work on blockchains a wonderful deal of than Ethereum, but is for now specializing in this community attributable to its market’s dimension.

This fundamental funding round is supposed to finance the improvement of W3bcloud’s first Ethereum files centers. Issa defined that he believes the platform’s rising ecosystem needs such infrastructure:

“The trustless, permissionless and decentralized economic system requires tough and devoted files centers to scale. W3BCLOUD brings together the pre-notorious GPU producer and the main blockchain developer to manufacture the compute infrastructure for the blockchain economic system.”

Issa defined that the company plans to admire mission grade decentralized computer infrastructure. He furthermore famed that the GPU infrastructure could well also be furthermore former for extra feeble functions such as machine discovering out, storage, rendering and video transcoding. He stated that W3bcloud is already in talks with multiple possible customers.

Cloud platforms commence providing blockchain services and products

As blockchain adoption continues progressing at a further and extra rapid tempo, several cloud computing platforms started providing services and products that leverage this contemporary know-how.

As an illustration, in slack February 2019, Google Cloud’s platform market added the improvement tool of corporate-oriented cryptocurrency Ontology (ONT).