Wednesday, May 19th 2021
Ethereum to Transition to Proof of Stake in Coming Months, Reducing Energy Consumption by 99.95%
The deployment of PoS (Proof of Stake) in Ethereum - called The Merge - has been a target for the development teams for a while now - and yet it still hasn't see the light of day. However, we have been slowly clambering towards it, and the Ethereum team has issued a blog post that places that transition "in the coming months", which likely means a hard PoS fork closer to years' end. Of course, the timeline still gives miners some time make up for hardware investment costs, but perhaps some of them (the smallest ones at least) will start offloading their graphics cards soon so as to enjoy the higher, current second-hand pricing for the latest and greatest GPUs.
The implementation of PoS in Ethereum is expected to reduce power consumption by a ridiculous 95.95% - from a country-sized 44.49 TWh with the current PoW (Proof of Work) technology down to a comparably measly 2.62 megawatt estimate. The Merge should therefore aid Ethereum in not only becoming greener, but also increasing network security, reducing likelihood of 51% attacks, and allowing for further operational scaling of the network. The more skeptical of you will say that miners will just choose another profitable coin to mine, but we have to consider Ethereum's market cap and current valuation - there is currently no other coin that seems to be able to absorb the hashing power currently devoted to Ethereum without crashing its profitability for any and everyone involved. We might be looking at a relatively healthy second-hand graphics card market by the end of the year. Wouldn't that be nice?
Source:
Blog.Ethereum
The implementation of PoS in Ethereum is expected to reduce power consumption by a ridiculous 95.95% - from a country-sized 44.49 TWh with the current PoW (Proof of Work) technology down to a comparably measly 2.62 megawatt estimate. The Merge should therefore aid Ethereum in not only becoming greener, but also increasing network security, reducing likelihood of 51% attacks, and allowing for further operational scaling of the network. The more skeptical of you will say that miners will just choose another profitable coin to mine, but we have to consider Ethereum's market cap and current valuation - there is currently no other coin that seems to be able to absorb the hashing power currently devoted to Ethereum without crashing its profitability for any and everyone involved. We might be looking at a relatively healthy second-hand graphics card market by the end of the year. Wouldn't that be nice?
86 Comments on Ethereum to Transition to Proof of Stake in Coming Months, Reducing Energy Consumption by 99.95%
7970 -> 7970 GHz Edition -> 280X
Mining cards perform ~10% lower than non-mining cards, unless you replace thermal pads and repaste the GPU maybe, I'd personally never buy a former mining GPU, not worth the hassle and they can die any time, which is why alot of the new mining cards only get 3 months warrenty. Consumer cards are not meant for 24/7 operation.
www.tomshardware.com/news/mining-card-rtx-2080-ti-tested-gaming
Almost 1 Trillion Dollars liquidated within the span of 2 days, the most, in the last 2 hours. INSANE!
I'm waiting for ethereum to reach in future more than 20k or 50k euro and then I'll sell them, mmm, muņē.
yacht club whales... mmm yummy fiat yachts, sailing on the open seas!
Give it 5 to 10 months and we can have GPUs, just on time for 40 series.
Maybe I got happy too fast, but I just want to buy a GPU lol.
This is going to be a bleeder.
It's coming back! Kick the monster while it's down!