The joint blockchain cloud computing enterprise of computing big AMD and Ethereum-focused growth agency ConsenSys has acquired $20.5 million in fun
The joint blockchain cloud computing enterprise of computing big AMD and Ethereum-focused growth agency ConsenSys has acquired $20.5 million in funding.
In accordance with 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 places of work within the United Arab Emirates. Jörg Roskowetz — the top of the blockchain enterprise unit at AMD — stated, “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 instructed Cointelegraph, “AMD will design the high-performance {hardware} applied sciences required to optimize for the decentralized computing infrastructure.” ConsenSys, alternatively, will present blockchain software program options and have interaction 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 software. He identified that the presently accessible cloud infrastructure is just not optimized for Ethereum transactions and decentralized workloads. He stated that the agency is open to work on blockchains apart from Ethereum, however is for now specializing in this community as a result 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 financial 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 financial system.”
Issa defined that the corporate plans to offer enterprise grade decentralized laptop infrastructure. He additionally famous that the GPU infrastructure will be additionally used for extra conventional purposes resembling machine studying, storage, rendering and video transcoding. He stated that W3bcloud is already in talks with a number of potential prospects.
Cloud platforms begin providing blockchain companies
As blockchain adoption continues progressing at an more and more quick tempo, a number of cloud computing platforms began providing companies that leverage this new know-how.
As an illustration, in late February 2019, Google Cloud’s platform market added the event software program of corporate-oriented cryptocurrency Ontology (ONT).