Cryptocurrency mining, which has risen with the pandemic period, combined with the chip crisis, causing video card prices to increase greatly. After the depreciation of Ethereum and Bitcoin in the past months, graphics cards have become more accessible, as of today, the transition from Ethereum’s Proof of Work model to Proof of Stake has been completed.
A new era begins for blockchain
The Proof of Stake model that comes with The Merge change is expected to greatly reduce the amount of energy consumed by Ethereum. In this model, users will use their existing crypto assets to buy new coins and verify crypto transactions. Thus, users will be more likely to be rewarded with new cryptocurrencies.
What will change with Ethereum Merge?
As it is known, the energy need for cryptocurrencies has brought great debates since the past. According to current data, the Ethereum and Bitcoin network consumes up to 212 TWh of energy annually. According to the creator of Ethereum, the Proof of Stake model will reduce the amount of energy required for Ethereum by 99 percent, resulting in a 0.2 percent reduction in global electricity consumption.
Can affect video card prices
We can say that The Merge will confront Ethereum crypto miners with a difficult choice. Because there are mineable assets such as Ravencoin, Ethereum Classic and Ergo on the blockchain, but these units provide a very low return against Ethereum. Therefore, we can say that the demand from crypto miners will decrease and many cards will appear in the second-hand market.
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