Why is AMD graphics card used for mining (AMD mining)?

08/13/2023 15:38 • NFT Newsflash • 96 views

Why is AMD graphics card used for mining? Why is AMD graphics card used for mining?

Today, Wang Chain Technology will take you to explore the truth.

From the latest M30 series memory released by Nvidia: In the gaming industry, there are two most popular AMD graphics cards – Nvidia RTX 3080 and AMD RTX 3070. Both of these new graphics cards use AMD technology for cryptocurrency mining (currently priced at $1). “We believe that as the Bitcoin network develops, more and more miners will transfer their computing power to this platform.” – Steve Wozniak, Cornell University Computer Science Professor and former CEO of Microsoft.

But even so, “AMD” is still the main choice for many people: “Although many people are using AMD graphics cards for blockchain computing, it does not mean that these players are too optimistic about the future of Bitcoin.” Therefore, for users who want to buy more AMD graphics cards, this is very good news! Because when the price of Bitcoin reaches $20,000, it will flood into the market in large numbers. And this trend is often accompanied by soaring graphics card prices.

Of course, if someone says that the price of Bitcoin has soared to over 100,000 yuan, “then it is a real scam”, do they really want to invest in Bitcoin? “I believe everyone will not be so simple,” said an unnamed source, “but I estimate that most people do not really like Bitcoin.” However, some analysts also believe that because Bitcoin has no value support, people still hope that Bitcoin can be more widely used.

According to recent research by the Cambridge Alternative Finance Center, since May 2018, more than half of Ethereum transactions have been on the blockchain. The largest part of this is that Bitcoin Cash has been found to have serious scalability issues.

Although Bitcoin developers claim to own Bitcoin, the anonymous founder of Bitcoin has always denied its potential as a means of payment and even suggested that it has speculative properties like other virtual assets.

At the same time, another company called Coingeek is also researching some applications of blockchain technology. It is reported that in April of this year, CoinGeek received the ninth class of common stock sales permit issued by the US SEC regulatory agency and can be listed on digital asset exchanges such as Bitstamp.

Is AMD mining?

AMD mining is based on Bitcoin and Ethereum smart contracts, and it is a decentralized application on the Ethereum chain. It runs on the blockchain, but unlike other networks, AMD does not have a consensus mechanism. Therefore, some people say that this project is to make AMD a better cryptocurrency.

But in reality? According to official data, the total locked position of AMD has reached 200 million US dollars.

In response to this, some netizens commented: Why doesn’t AMD support mining? Will AMD choose mining? If so, then you must purchase a token to use the protocol for trading or use it for other purposes.

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Why is AMD graphics card used for mining (AMD mining)?

Is AMD mining?

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