Tachyum's Prodigy Processors: A Game-Changer for Blockchain in Banking and FinTech
Luisa Crawford Jul 19, 2023 01:46
Tachyum, a leading tech company, has recently published a paper titled "Credit Unions, Blockchain, CBDC, FinTech and Tachyum Prodigy", which highlights the potential of Prodigy to revolutionize transactional banking and significantly reduce the environmental and financial costs associated with blockchain's energy consumption.
Tachyum, a leading tech company, has recently published a paper titled "Credit Unions, Blockchain, CBDC, FinTech and Tachyum Prodigy" on July 18, 2023. The paper highlights the potential of Prodigy, the world's first Universal Processor, to revolutionize transactional banking and significantly reduce the environmental and financial costs associated with blockchain's energy consumption.
FinTech companies are using blockchain technology more often because it enables direct payments between payer and payee without the need for a middleman. PricewaterhouseCoopers estimates that 77% of FinTech firms are either utilising blockchain now or moving to blockchain-based goods and services. Taking the lead in the transition to banking products and services based on blockchain, credit unions are at the forefront of this movement.
However, the energy consumption of blockchain and cryptocurrency technologies is a growing concern. The electricity use for crypto-assets is currently between 120-240 billion kilowatt-hours per year, surpassing the total annual electricity consumption of entire nations like Argentina or Australia.
Tachyum's Prodigy offers a solution to this problem. The 128-core processor operates at clock speeds over 5GHz, outperforming all other CPU platforms in standard data center workloads. It delivers high hashing function performance required for blockchain banking while using only one-tenth of the power (core vs. core). This efficiency significantly reduces the Total Cost of Ownership (TCO) of hyperscale data center operations to one-fourth that of its closest competitors.
Prodigy's patented architecture allows it to seamlessly switch from normal CPU tasks to AI/ML workloads, making it highly effective in the banking industry for identifying fraud and cyberattacks before they cause significant financial damage.
The Prodigy-powered data center servers can dynamically switch between workloads, eliminating the need for expensive dedicated AI hardware and significantly increasing server utilization. Prodigy delivers performance up to 4x that of the highest performing x86 processors for cloud workloads and up to 3x that of the highest performing GPU for HPC and 6x for AI applications.
Tachyum's Prodigy Universal Processor is set to transform AI, HPC, public and private cloud data center markets, unifying the functionality of a CPU, a GPU, and a TPU into a single processor. This innovation is expected to save companies billions of dollars per year and contribute to the sustainable growth of data centers worldwide.
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