Blockchain firm Diginex announced that it has signed a Memorandum of Understanding (MOU) with cloud computing company Symbioses SA, in which the former’s infrastructure will be used to perform optimized cryptocurrency mining, according to a press release dated September 3.
But the partnership doesn’t plan to mine cryptos just for the sake of it; they will also be verifying technical basis for the deployment of high-performance computing (HPC) applications.
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To accomplish the objective, Diginex will offer 20,000 graphics processing units (GPUs) at its data center situated in Europe on the Symbioses network for the said activity. Through their concerted efforts, the partnership will be initiating an automatic screening of market conditions which will provide information on which cryptocurrency will be preferred to be mined, taking into consideration its profitability. Furthermore, the system will automatically switch from mining one cryptocurrency to another as it sees fit.
The HPC market is projected to reach $44 Billion by 2022, with the provision of HPC in the cloud being expected to be one of the fastest growing segments—19.9 percent compound annual growth rate to be exact—according to MarketsandMarkets, a B2B research firm.
Richard Byworth, Diginex CEO, said that they are intent at fostering the development of platforms which will address the incoming influx of supercomputing demand. As mentioned above, the blockchain firm will be dedicating 20,000 GPUs, equivalent to 2,500 nodes, for the sole purpose.
“We are excited to partner with the Symbioses team, who have spent the last four years developing an automated and client-centric application aimed at lowering the entry point barriers of this technology.”
Symbioses expresses the same, with Lucas Figueroa, CEO and Founder of the said cloud computing company, saying that they are delighted to be partnering with Diginex, which they acknowledge to be a company that has the technical know-how and that values the “highest levels of client service.”
“This comes at an opportune time,” expressed Figueroa, “as the demand for reliable and user-friendly solutions is set to increase exponentially, and Symbioses is ready to deliver.”
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