News- Digital Currency,Blockchain Cryptocurrency Technology

Is GPU based Cryptocurrency Mining will vanish soon

As there was an increase in the price value of cryptocurrency, it attracted new investors and miners. As the number of miners increased it become hard to make that much of mining algorithms. Till now miners were using GPU for this purpose. As their interest is ending GPU industry have lost so much. Many ASIC manufacturer told about the new Cryptocurrency mining machine. As Nvidia is facing a shortage in manufacturing due to crypto-miner, chief CEO has said to increase the manufacturing rate.

ASIC has made a mining device that will disrupt GPU mining. ASIC computers are specialized computers built to mine cryptocurrencies on specific algorithms. These ASIC miners were traditionally only built for certain algorithms, such as Bitcoin’s SHA-256 or Litecoin’s Scrypt. Due to this much mining by Crypto users, it became hard for gamers to get their hand on the GPU. Due to the parallel processing power of the GPU, they became popular at that time. But now ASIC is trying to replace GPU from this duty.

There are some ASIC manufacturers, like Bailak, are building a device for alternate algorithms. Some of them will be using Cryptonite. An algo used by Monero and Electroneum. And According to the rumors, Bitmain has also made a device for Ethereum and Ethereum based coins. But Ethereum developers have claimed that their algo resist ASIC. They also added that they will keep it that way.

Ethereum is one of the most popular coins to be mined with GPU because mining it is easy that other. But as per rumors, it looks like miners need to switch from it. There will be less profit in the Ethereum to other alternate coins. The manufacturer of the recently announced Cryptonite ASIC, Baikal, has not had the best history in the cryptocurrency space. They may be ‘all talk, no game’ meaning that they may not be able to deliver with their Cryptonite ASIC. They may not have the capability to mass produce this product, therefore, making this foray into the Cryptonite market, irrelevant. However, seeing that Monero developers still plan to hard fork Monero, shows that they are still wary of the arrival of Cryptonite ASICS.