AMD And ConsenSys Blockchain Data Center Venture Gets $20M Of Seed Funding

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

According to a June 25 announcement, AMD and ConsenSys’ W3bcloud three way partnership obtained the monetary system imagination by means of the sale of convertible notes to the institution corporations and several other home places of work inside the United Arab Emirates. Jg Roskowetz – the peak of the blockchain enterprise unit at AMD – declared, “Parallel and dispersed computing focused on blockchain use cases is a fast-growing segment of the industry.”

W3bcloud’s co-founder and CEO Sami Issa instructed Cointelegraph, “AMD will design the high-performance hardware technologies required to optimize for the decentralized computing infrastructure.” ConsenSys, nonetheless, will present blockchain package program options and interact in analysis and growth efforts.

Much wanted infrastructure for a rising ecosystem

Sami defined that the blockchain ecosystem wants industrial grade computing infrastructure to scale and attain mass utility. He illustrious that the now accessible cloud infrastructure just isn’t optimized for Ethereum proceedings and decentralized workloads. He declared that the agency is open to work on blockchains aside from Ethereum, nonetheless is for now specializing in this community on account of its market’s measurement.

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

“The trustless, permissionless and decentralized economy requires robust and dedicated data centers to scale. W3BCLOUD brings together the pre-eminent GPU manufacturer and the leading blockchain developer to build the calculate infrastructure for the blockchain economy.”

Issa defined that the corporate plans to offer enterprise grade decentralized laptop infrastructure. He additionally famed that the GPU infrastructure may be additionally used for extra conventional functions corresponding to machine studying, storage, rendering and video transcoding. He declared that W3bcloud is already in negotiation with a number of potential prospects.

Cloud platforms begin providing blockchain providers

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

For occasion, in late February 2019, Google Cloud’s platform market added the event package program of corporate-oriented cryptocurrency Ontology (ONT).

AMD And ConsenSys Blockchain Data Center Venture Gets $20M Of Seed Funding

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