Diginex and Symbioses Deploy Decentralized Supercomputing Network

03/09/2018 11:46

HONG KONG, Sept. 3, 2018 /PRNewswire/ -- Diginex, a global blockchain solutions company, has signed a Memorandum of Understanding (MOU) with Symbioses SA, a Swiss based decentralized cloud computing company, in which Diginex's infrastructure will be used to perform optimized cryptocurrency mining and verify the technical basis for the deployment of high-performance computing (HPC) applications.

Diginex will provide up to 2,500 nodes (20,000 GPUs) at its data center in Europe to perform optimized cryptocurrency mining on the Symbioses network taking full advantage of modern GPUs using unique optimization techniques. The automatic screening of market conditions allows for the mining of the most profitable cryptocurrency using available market information and data at that given moment with minimal switching time required.

Symbioses' ability to deploy more complex HPC jobs provides the potential to improve current mining profit exponentially. Diginex and Symbioses will work together to test and verify the technical basis for the deployment of scientific simulations, tensor-flow deployment and rendering. The HPC market is expected to reach $44bn by 2022, with the provision of HPC in the cloud expected to be one of the fastest growing segments with an estimated 19.9% compound annual growth rate.[1] Working with Symbioses will enable Diginex to optimize between cryptocurrency mining and HPC in an automated fashion to capture this growing market demand.

Mr. Richard Byworth, CEO at Diginex, said: "We believe in fostering the development of platforms that address the incoming wave of supercomputing demand. 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 CEO and Founder, Mr. Lucas Figueroa, added: "We are delighted to announce this partnership with Diginex, a company that has both the technical know-how but also values the highest levels of client service. This comes at an opportune time, as the demand for reliable and user-friendly solutions is set to increase exponentially, and Symbioses is ready to deliver."

[1] According to MarketsandMarkets

Press Contacts:

Heather Dale


E: heather.dale@diginex.com

Tel: +852 9274 3312

Jeri Morgan


E: jerim@symbioses.io

Tel: +34 91522 3025

About Diginex

Diginex develops and implements blockchain technologies to transform businesses and enrich society. At the core of Diginex is our people. We are a blend of financial service professionals, passionate blockchain technologists and experienced project managers. We work with corporates, institutions & governments to create solutions that build trust and increase efficiency. For more information on Diginex, please visit www.diginex.com.

About Symbioses

Symbioses seeks to create the largest peer-to-peer network to monetize computing resources throughout the world, connecting non-interoperable networks utilizing its own off-chain protocol, and overcoming current scalability issues of blockchains to directly challenge the entrenched oligopoly dominating cloud computing.

SOURCE Diginex

More News

Comprehensive Guide to Economic Damages, 2018 (5th Edition) - ResearchAndMarkets.com

03/09/2018 11:32

The "Comprehensive Guide to Economic Damages 5th Edition" book has been added to Research...

The European Investment Trust Plc - Transaction in Own Shares

03/09/2018 10:24

The European Investment Trust plc (“the Company”) The Company announces that...

Juniper Research: Future Smartphone Payments to Rely on Software Security, with Over 1.5 Billion Users in 2023

03/09/2018 10:30

Number of smartphone users relying on software-only biometric security to grow more than 25...

Terms and condition | Privacy Statement

Financial.org is an educational platform. We DO NOT deal with securities and receive any financial benefits from Financial Products & Service Providers.