Tachyum, a number one tech firm, has just lately printed a paper titled “Credit score Unions, Blockchain, CBDC, FinTech and Tachyum Prodigy” on July 18, 2023. The paper highlights the potential of Prodigy, the world’s first Common Processor, to revolutionize transactional banking and considerably scale back the environmental and monetary prices related to blockchain’s power consumption.
FinTech firms are utilizing blockchain know-how extra actually because it allows direct funds between payer and payee with out the necessity for a intermediary. PricewaterhouseCoopers estimates that 77% of FinTech companies are both utilising blockchain now or transferring to blockchain-based items and providers. Taking the lead within the transition to banking services based mostly on blockchain, credit score unions are on the forefront of this motion.
Nonetheless, the power consumption of blockchain and cryptocurrency applied sciences is a rising concern. The electrical energy use for crypto-assets is at present between 120-240 billion kilowatt-hours per yr, surpassing the full annual electrical energy consumption of complete nations like Argentina or Australia.
Tachyum’s Prodigy provides an answer to this drawback. The 128-core processor operates at clock speeds over 5GHz, outperforming all different CPU platforms in normal knowledge heart workloads. It delivers excessive hashing perform efficiency required for blockchain banking whereas utilizing solely one-tenth of the facility (core vs. core). This effectivity considerably reduces the Whole Price of Possession (TCO) of hyperscale knowledge heart operations to one-fourth that of its closest opponents.
Prodigy’s patented structure permits it to seamlessly swap from regular CPU duties to AI/ML workloads, making it extremely efficient within the banking trade for figuring out fraud and cyberattacks earlier than they trigger vital monetary injury.
The Prodigy-powered knowledge heart servers can dynamically swap between workloads, eliminating the necessity for costly devoted AI {hardware} and considerably growing server utilization. Prodigy delivers efficiency as much as 4x that of the very best performing x86 processors for cloud workloads and as much as 3x that of the very best performing GPU for HPC and 6x for AI functions.
Tachyum’s Prodigy Common Processor is ready to rework AI, HPC, private and non-private cloud knowledge heart markets, unifying the performance of a CPU, a GPU, and a TPU right into a single processor. This innovation is anticipated to avoid wasting firms billions of {dollars} per yr and contribute to the sustainable progress of knowledge facilities worldwide.
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