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Blockchain Startup Diginex Partners with Symbioses on Cryptocurrency Mining Project

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Global blockchain solutions company Diginex has announced a new partnership with Swiss-based decentralized cloud computing company Symbioses SA to deploy a decentralized supercomputing network. The two companies have signed a Memorandum of Understanding (MOU), wherein Symbioses will be using Diginex’s infrastructure to perform optimized cryptocurrency mining and “verify the technical basis for the deployment of high-performance computing (HPC) applications.”

A press release published on September 3 by Diginex reads:

“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.”

Diginex believes that Symbioses’ ability to deploy more complex high performance computing (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 companies project that the high performance computing market could become a $44 billion industry by 2022. Provisions for HPC in the cloud is predicted to be one of the fastest growing sub-sectors, with a nearly 20 percent annual compounded growth rate. By working together, the two companies plan to optimize between cryptocurrency mining and HPC in an effort to capitalize on the growing market demand.

“We believe in fostering the development of platforms that address the incoming wave of supercomputing demand,” said Diginex CEO Richard Byworth. “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 Lucas Figueroa added that he was equally excited for the new partnership. He describes Diginex as “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.”

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