We propose a new efficient hardware implementation of Rainbow signature scheme. We enhance the implementation in three directions. First, we develop a new parallel hardware design for the Gauss-Jordan elimination, and solve a 12 ×12 system of linear equations with only 12 clock cycles. Second, a novel multiplier is designed to speed up multiplication of three elements over a finite field. Third, we design a novel partial multiplicative inverter to speed up the multiplicative inversion of finite field elements. Through further other minor optimizations of the parallelization process and by integrating the major optimizations above, we build a new hardware implementation, which takes only 198 clock cycles to generate a Rainbow signature, a new record in generating digital signatures and four times faster than the 804-clock-cycle Balasubramanian-Bogdanov-Carter-Ding-Rupp design with similar parameters.