Graphics cards are getting cheaper in India
Ethereum will soon dispense with GPU mining, thus saving graphics cards and energy
The crypto currency Ethereum is one of the main reasons for the shortage of graphics cards, in addition to the sharp rise in demand from gaming enthusiasts due to the pandemic, because the high value of the crypto currency makes it worthwhile for crypto farms to buy as many graphics cards as possible and use them to mine To use Ethereum. But that will soon change, because the Ethereum Foundation talks about fundamental changes in a blog entry.
In the coming months, there will be a switch from Proof of Work (PoW) to Proof of Stake (PoS). In short, this means that in future the system with the highest computing power will no longer have an advantage when mining Ethereum, instead the network will automatically vote on who will be awarded a newly created digital coin. The selection is based, among other things, on the amount of Ethereum someone already owns.
This change not only has the advantage that the demand for graphics cards could drop significantly, and that used GPUs in particular are likely to become cheaper, power consumption can also be massively reduced. The Ethereum Foundation estimates that after switching to PoS, around 99.95 percent less energy will be used on the blockchain. Currently, crypto farms are using as much energy to mine Ethereum as a medium-sized country consumes, after the switch, the demand should drop to around 2.6 megawatts, which corresponds to a small town or around 2,100 households.
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