Instead, "most of them are likely waiting for when Ethereum moves to PoS, to buy up the secondhand GPUs".
GPU miners "are not really investing in new equipment at the moment, since prices have been high for a while," according to Joe Downie, chief marketing officer at hash power broker NiceHash. According to 3D Center Germany's Easter weekend roundup, AMD GPU prices dropped by 13% on average, while Nvidia GPU prices fell by 6%.
The price decline has intensified this year, starting at 7.4% in January, 9.5% in February, and 12% in March. PoS also has a number of advantages over PoW, such as higher energy efficiency, lower entrance barriers, fewer hardware requirements, stronger anti-centralization immunity, and better support for shard chains.Īs per data from Tom's Hardware, the asking price for popular GPU models on eBay has dropped by 37% since May 2021.
#Arcane arts academy switch verification
In PoW systems, the verification of transactions and the addition of new blocks is done by utilising large amounts of computational power.Įthereum's imminent shift to a proof-of-stake (PoS) system, also called the Merge, will render the GPU obsolete, as users will be able to validate transactions and produce new blocks by staking or locking up Ether. From its very inception, The Ethereum network has relied on the Proof-of-Work (PoW) consensus mechanism. GPUs are specialised processors widely used for crypto mining and are meant to accelerate graphics rendering. T he golden days of Graphics Processing Units (GPU) being deployed in crypo mining appear to be coming to an end as the Ethereum network prepares to transition from proof-of-work (PoW) to proof-of-stake, slashing GPU prices.
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