22 May Cardano is Working on a Microchip That Would Give Crypto a Cash-like Experience
In a recent Cointelegraph interview, Charles Hoskinson elaborated on the crypto-native chip that IOHK is working at its blockchain lab at the University of Wyoming that may lead to many groundbreaking use cases, including a cash-like experience for cryptocurrency.
Crypto-native microchip
It all began when IOHK, the company charged with the development of Cardano (ADA), began exploring supply chain use cases and realized that there were no chips on the market that could satisfy its requirements — embeddability, ability to store cryptographic keys, and being inexpensive to produce:
“Really what we noticed is that there’s unfortunately no market standard right now for open-source trusted hardware that’s sufficiently powerful that it could be used with cryptocurrency, but also could be used in the supply chain.”
Hoskinson stressed that all the work being done on the chip will remain open source and will not only benefit Cardano alone, but rather the entire crypto community.