Why do we need 8GB for mining now? (Why does mining require so many graphics cards?)

08/12/2023 05:57 • Blockchain Buzz • 95 views

Why do we need 8GB for mining now? Why do we need 8GB for mining now?

Before Bitcoin was born, there were already many discussions about Ethereum, including that the Ethereum network is the main computing resource (CPU, GPU) for running nodes. However, in the past few months, more and more developers and investors have joined this consensus mechanism, resulting in various incentive schemes. For example, a recent statement from a source at Ripple called “Ripple team announced their plan to launch a new proof-of-stake chain based on the proof-of-stake algorithm – ‘Proof-Of-Stake’.” This is a novel sharding technology solution. “We believe that if PoW is used to verify block information and PoB is used for expansion or double spending attacks, it will be very effective.”

In order to solve this problem, we are currently collaborating with a company called Dfinity to research how to adopt this technology. According to the company’s announcement, the vision of this project is to create more value for the entire industry in the coming months. However, by the end of this year, no blockchain protocol can support these specific requirements, such as decentralized storage, data encryption, etc. As time goes on, faster processing speed and higher throughput are needed to ensure thousands of transactions can be completed per second.

In addition, due to many insecure issues in the current blockchain networks (especially at high prices), it is impossible for people to truly accept it as a currency or a payment method, and it can even be said that it is impossible to be widely recognized. For this reason, some companies have been trying to find other ways to improve their efficiency, as this can reduce the burden on the network and make them more reliable.

It is estimated that currently, more than 200 countries/regions around the world are interested in blockchain, and most countries are actively promoting their own sovereign blockchain projects.

For ordinary investors, it is often a headache to become an early participant in blockchain projects. However, for professional investors, they may choose the blockchain ecosystem they are familiar with. In fact, apart from large exchanges like dapp.com, there are not many companies operating in the blockchain field. However, in the long run, the development prospects of the blockchain industry are still significant, just like last year.

Why does mining require so many graphics cards

According to coindesk, based on recent data, sales of graphics cards for Ethereum miners have exceeded 50% of total demand.

However, there are many problems in the field of cryptocurrency mining: in order to achieve faster speed and better performance, it is necessary to have a variety of different memory cards to support mining Bitcoin (BTC). This leads to a lot of costs and high electricity bills – therefore, it becomes even more difficult for those who do not have enough memory because they need higher prices to continue their work. So when you buy a graphics card with higher configuration, availability, and anti-ASIC properties, you need to make a lot of adjustments or update your GPU and ensure that your device is not damaged.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/23389.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Why do we need 8GB for mining now? (Why does mining require so many graphics cards?)

Why does mining require so many graphics cards

Related recommendations