AMD and ConsenSys’ Blockchain Information Heart Enterprise Will get $20M of Seed Funding

The joint blockchain cloud computing enterprise of computing big AMD and Ethereum-focused growth agency ConsenSys has obtained $20.5 million in funding.

Based on a June 25 announcement, AMD and ConsenSys’ W3bcloud three way partnership obtained the funds by the sale of convertible notes to the founding corporations and several other household workplaces within the United Arab Emirates. Jörg Roskowetz — the pinnacle of the blockchain enterprise unit at AMD — mentioned, “Parallel and distributed computing targeted on blockchain use circumstances is a fast-growing phase of the business.”

W3bcloud’s co-founder and CEO Sami Issa advised Cointelegraph, “AMD will design the high-performance {hardware} applied sciences required to optimize for the decentralized computing infrastructure.” ConsenSys, however, will present blockchain software program options and interact in analysis and growth efforts.

A lot wanted infrastructure for a rising ecosystem

Sami defined that the blockchain ecosystem wants industrial grade computing infrastructure to scale and attain mass utility. He identified that the at present accessible cloud infrastructure just isn’t optimized for Ethereum transactions and decentralized workloads. He mentioned that the agency is open to work on blockchains aside from Ethereum, however is for now specializing in this community as a consequence of its market’s measurement.

This primary funding spherical is supposed to finance the event of W3bcloud’s first Ethereum information facilities. Issa defined that he believes the platform’s rising ecosystem wants such infrastructure:

“The trustless, permissionless and decentralized economic system requires strong and devoted information facilities to scale. W3BCLOUD brings collectively the pre-eminent GPU producer and the main blockchain developer to construct the compute infrastructure for the blockchain economic system.”

Issa defined that the corporate plans to supply enterprise grade decentralized pc infrastructure. He additionally famous that the GPU infrastructure might be additionally used for extra conventional functions equivalent to machine studying, storage, rendering and video transcoding. He mentioned that W3bcloud is already in talks with a number of potential prospects.

Cloud platforms begin providing blockchain providers

As blockchain adoption continues progressing at an more and more quick tempo, a number of cloud computing platforms began providing providers that leverage this new know-how.

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

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