Even if you’ve been an ostrich when it comes to global happenings and tech news, you must have certainly heard about blockchain technology? Maybe, you even considered it a tech fad meant for cryptocurrency aficionados only?
Well, this article will not only help dispense your scepticism but also will bring to the forefront the power that’s making Blockchain technology all-pervasive. The Graphical Processing Unit! Read on.
The Formidable Chain
First conceptualized in the 1980s and in actual use since 2008, Blockchain technology, simply put, is a chain of blocks (read records/ ledger) that is decentralized (i.e., authority over the record is shared amongst several owners), thereby making it near-impossible for anyone to retroactively modify or delete any block.
Within a Blockchain ledger, each block contains relevant encoded information about each transaction/ use in the chain, a unique hash value, and hash value of the previous block. Any malicious retroactive data change in any single block will, thus, render the data in the subsequent block invalid/ inconsistent!
This spellbinding system where data can be effortlessly tracked from one block to another, and it is tremendously difficult to modify data at any juncture, effectively detects and prevents fraud, rendering the entire chain virtually tamperproof! Any real-time update in a single blockchain is the consequence of all the members confirming the update, making every piece of information in that block reliable, unanimous and final.
Blockchain Technology at an Inflection Point
Blockchain applications are expanding at an explosive pace and fast becoming more mainstream. It is at an inflection point with several use cases already explored, viz: financial transaction validation, supply chain management, identity verification, voting systems, intellectual property, etc. Most notably, it has the potential to revolutionize the healthcare industry in several ways. Some potential uses of Blockchain in healthcare include:
- Electronic medical records: Blockchain technology can be deployed to create a secure, decentralized system for storing and sharing electronic medical records. This would allow doctors and other healthcare providers to access patient information in real time, regardless of where the patient is being treated.
- Clinical trials: Blockchain technology can be used to create a tamper-proof trail of clinical trial data, preventing data fudging, inconsistencies, and other errors of omission and commission. Thereby rendering it easier to track patient outcomes and ensure the integrity of the data.
- Supply chain management: Blockchain technology has already proved instrumental in supply chain management optimization in various logistics enterprises. It can also be deployed in the healthcare sector for validating the supply chains for drugs and other medical products. This would make tracking the origin and authenticity of these products easier.
- Secure communication: Secure communication channels between healthcare providers and patients protect patient privacy and prevent unauthorized access to sensitive information, which is a key advantage of relying on Blockchain technology.
- Medical billing and claims management: A more efficient and transparent system for managing medical billing and claims would allay patients’ numerous concerns and heartburn. On the other end, it would make it easier for medical institutions as well as insurance companies to track payments and ensure that claims are processed correctly. If any economic sphere has the first claim to Blockchain technology, it is the financial sector, especially transaction management and authentication.
- Personalized Medicine: Blockchain technology can also be used to securely store genetic information, clinical data, and other medical records, which can in turn be used to develop personalized medicine, a promising new field.
- Telemedicine: Like Blockchain, telemedicine has also revolutionized the world. A marriage between the two can allow healthcare institutions and enterprises to finally deliver the long-awaited last-mile delivery of healthcare services. Blockchain technology can have a role in storage, sharing and access management of telemedicine data, thus imparting confidentiality to remote healthcare management and monitoring as well.
Many tech behemoths and innovative startups are investing heavily in the Blockchain, indicating that they envision its potential and want to be one step ahead in this game.
Why GPU?
The Graphical Processing Unit, or GPU, is a specialized processor originally designed to accelerate graphics rendering, especially in high-end, immersive games. Over time, it underwent immense customization and was transformed into a highly programmable hardware accelerator. Its capability of accelerating complex workloads involving convoluted algorithms and mathematical calculations simultaneously touched new highs, and in turn, kickstarted the era of Deep Learning (DL) and High-Performance Computing (HPC). GPU evolved to fill in the gaps and enable the CPU (Central Processing Unit) to fulfil less computationally demanding roles.
The computing needs of various industries differ largely, however, the central needs of all remain unchanged. Briefly,
- High parallel processing power: GPU can perform many calculations simultaneously. It is thus ideal for tasks that can go granular into a slew of independent, embarrassingly parallel tasks. This ability to perform hundreds or thousands of calculations concurrently is a game-changer for enterprises in terms of data analytics.
- Fast floating-point calculations: GPU is optimized for performing floating-point calculations, which are commonly used in engineering and technical calculations requiring high accuracy.
- High memory bandwidth: GPU has larger memory and substantially higher memory bandwidth vis-a-vis CPU, allowing it to access, process and transfer massive data sets in a single go.
- Support for specialized programming languages: Modern GPUs support several specialized programming languages such as CUDA and OpenCL allowing developers to take advantage of their superb processing capabilities across a wide spectrum of applications.
- Flexible architecture enabler to ML: Processors invariably suffer from lags when colossal quantum of data is to be handled. With GPU, there is no latency even when there is a data context switch, spurring an exponential increase in the development of GPU-accelerated ML applications involving Deep Learning and Artificial Neural Networks.
- Cost savings: Though itself an exorbitant piece of hardware, the many advantages that a GPU confers on enterprises and independent content creators far outweighs the costs. For enterprises especially, minimisation of development timelines and manpower costs are critical considerations. Not to say about the opportunity costs that can be leveraged with fast turnarounds and raking in new business opportunities!
Why Cloud GPU?
We are past the era of fervent debate on the long-term benefits of Cloud computing or Cloud offerings. If reports are to be believed, with the emergence of industry-wide Cloud computing offerings, the global market for Public Cloud services is forecasted to explode to ~ USD 1 trillion by 2027, driven especially by the explosive growth of its use cases in BFSI
Cloud GPU is not behind! Making GPU resources available over the internet via a Cloud computing service, in other words, on-demand rent-access to a GPU is termed as Cloud GPU. Cloud GPU providers, like other Cloud Services providers, adhere to a pay-as-you-go model. Furthermore, businesses can efficiently sidestep incurring capital expenditure in favour of tax-friendly operational expense when opting for Cloud GPU services. Enterprises are leveraging Cloud GPU for the following advantages:
- Cost-effectiveness: Renting a cloud GPU can be more cost-effective than purchasing and maintaining your own GPU hardware, especially if you only need it for a short period of time or purpose.
- Scalability: Cloud GPUs can be easily scaled up or down to meet changing demands, allowing you to pay for only the resources you need.
- Accessibility: Cloud GPUs can be accessed from anywhere; all you need is an internet connection! So, working remotely or collaborating with others is a cakewalk!
- Flexibility: Cloud GPUs can be used for a wide range of tasks, including Artificial Intelligence/ Machine Learning workloads, video rendering, gaming/ game streaming, cryptocurrency development, scientific research, etc.
- Easy maintenance: Cloud service providers are responsible for maintaining GPU hardware, and updating OS and SQL licenses, managing firewalls and adhering to cybersecurity best practices, thereby saving enterprises time and investment in these peripheral chores.
- High performance: Cloud GPU providers typically offer top-of-the-line, high-performance GPUs capable of handling highly demanding workloads, such as Deep Learning and high-res game streaming, which are not feasible to run on a regular CPU or GPU. With Cloud GPU resources, colossal mathematical models, massive statistical analytics, and extensive unstructured data handling are just simple walkovers!
- Security: Cloud service providers have state-of-the-art security measures, both physical and digital, in place to protect the GPU machines as well as user data. They also generally ensure data redundancy and adherence to compliance requirements. Many also offer disaster recovery services for business-critical data.
- Greater energy efficiency: There is a growing focus on sustainability and energy efficiency in the tech industry, and GPU is no exception! It is more economical, financially and environmentally, to run a GPU server than a CPU array for equivalent efficiency. Again, cloud service providers are highly efficient when it comes to avoiding wastage on physical space, electricity and data storage hardware, thereby greatly reducing the power consumption and carbon footprint.
The rapid growth of Artificial Intelligence (AI) and Machine Learning (ML), as well as the emergence of the Metaverse and Cloud gaming, have driven the increased adoption of Cloud GPUs. These technologies have pushed organizations to evolve and innovate and Cloud GPUs can provide a flexible and scalable way for them to access the resources they need to do so. To evaluate which Cloud GPU best suits your AI/ ML project need, you can check here.
Blockchain Development & GPU
Blockchain development is nothing but the process of creating unchangeable Distributed Ledger Technology (DLT) that securely records transactions and tracks assets, tangible or non-tangible, within a network.
Blockchain networks generate humongous amounts of data, and this data needs to be processed and analysed to extract valuable insights. GPUs can exponentially accelerate this data extraction and analytics manifolds, which in turn can help to improve the performance of the network. The high computational power of GPUs makes them well-suited for the demands of Blockchain technology, from Blockchain development and Cryptocurrency mining to consensus algorithms, smart contracts, data processing, and security. GPUs shall continue to play a key role in the validation of transactions and the secure operation of Blockchain networks. GPU-accelerated Artificial Intelligence (AI) algorithms are game-changers when it comes to fraud detection. Essentially, it is the key component that has helped Blockchain technology reach its current enviable stage. If the ‘ABC’ of the global future is Artificial Intelligence, Blockchain and Cloud Computing, then we have GPU to thank for their growth trajectory!
Moving Forward
Blockchain technology may have seen its early boom via cryptocurrency mining, but its potential remains largely unexplored. The Blockchain future holds the promise of increasing adoption of Decentralized Finance (DeFi), the development of more advanced and scalable Blockchain platforms, and the growing use of the Blockchain for identity verification and data privacy. The vision of the Blockchain is to be the underlying technology of something bigger, probably a new business model for how the world does business. AceCloud Hosting offers top-of-the-line Cloud GPU resources that can channel your Blockchain research, development and deployment strategies into a potent force to be reckoned with.
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