Changes to how Ethereum is mined will dampen demand for GPUs, but not until 2022 | PC Gamer - williamssuest1997
Changes to how Ethereum is mined will dampen demand for GPUs, but not until 2022
Do you hear that randomness? It's the winds of change blowing towards Ethereum, and once they've swept finished the cryptocurrency net, the bulk of demand for the best graphics cards—or any graphics card, really—will shift towards play, not mining. Operating theater so that is the hope.
That's the good news (for gamers). The bad news is, this North Korean won't happen long, or probably even this twelvemonth. There are ii major updates headed to Ethereum, the first of which is called the Greater London hard fork. Ethereum developer Tim Beiko confirmed on Chirrup that this will go live happening Noble 4, 2021, which is now less than four weeks away.
The Greater London hard branch out is a forerunner to the Ethereum 2.0 update that should have a more meaningful impact along the GPU shortage (fingers crossed, anyhow). It consists of five Ethernet Improvement Proposals (EIPs), and as CoinDesk notes, the most known ones are EIP 1559 and EIP 3554.
EIP 1559 changes the tip social structure by introducing a minimum fee to all on-chain minutes. As things presently stand, users set transaction fees, which are then accepted by miners. But this is acquiring replaced by a new "base fee" that is mechanically set by the Ethereum communications protocol, which gets removed or burned from the network rather than rewarded to miners.
The effect of it is, this key change will potentially decrease miner revenue. As you might envisage, not everyone is looking forward to this change, though it's organism done in bigger part to make Ethereum less changeable.
"While we think [EIP 1559] testament impart better predictability for transaction inclusion, we call back that fee burning is a bad idea, considering many transactions requiring extended computing resources for wise contract execution… will no more be compensated," Slava Karpenko, gaffer technology officer of Ethereum mining pool 2Miners, told CoinDesk.
EIP 3554, meanwhile, is dubbed a "difficulty fail delay," and refers to when minelaying Ethereum will become much more difficult with the aforementioned Ethereum 2.0 update. Barring another delay, this is now gear up to fall out on December 1, 2021.
As gamers, this shift is the one we are looking forward to, because information technology could effectively kill graphics card mining. Perhaps not entirely, just Ethereum is the biggest cryptocurrency that is still mined with GPUs, rather than specialized ASIC hardware, which is predominantly used for currencies the likes of Bitcoin.
This entails a modify from what's called a proof-of-work model, whereby mining requires dozens of computational power to shift transactions and generate new Ether, to a proof-of-stake model. This agency the network itself will aver transactions (or blocks) according to a miner's existing stake in Ethereum.
When this happens, it is conceivable—very apt, even—that a mountainous number of Ethereum miners will call it quits and sell their GPUs. On that point is still an industry wide-eyed shortage of Si that is affecting the boilers suit supply of graphics card game, but used cards flooding places like eBay and Craigslist, along with reduced demand for untried GPUs for mining should help the situation.
The delay to December 1, however, means GPUs are likely to continue meager the residual of the year. Optimum case scenario is looking like GPUs will be a spot easier to seminal fluid aside in early 2022, and that's blackball another infernal machine delay. Or (and fingers crossed this doesn't happen) another cryptocurrency that is well-mined with GPUs becomes large popular in place of Ethereum.
Paul has been playing PC games and raking his knuckles on hardware since the Commodore 64. He does not have any tattoos, but thinks information technology would be unfriendly to undergo one that reads LOAD"*",8,1. In his off time, he rides motorcycles and wrestles alligators (single one of those is true).
Source: https://www.pcgamer.com/changes-to-how-ethereum-is-mined-will-dampen-demand-for-gpus-but-not-until-2022/
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