GPUs are the building blocks of cryptocurrency mining, as they provide the necessary computing power to solve complex mathematical calculations. Visit a website like bitcoin-lifestyle to trade in bitcoin with the help of advanced AI technology; the platform is suitable for even novice traders. As a result, demand for GPUs has skyrocketed in recent months, with Bitcoin and Ethereum prices surging well over one thousand percent. If you are unable to purchase an entire Bitcoin, purchasing a single unit or fraction through a reputable platform such as this website increases transaction volume and feasibility.
It has had a cascading effect on GPU pricing, with companies like AMD and NVIDIA increasing their prices anywhere from 15-200%. The result is that cryptocurrency miners devour large quantities of high-end gaming GPUs while the PC gaming community feels shortage pains. Of course, it isn’t great news for PC gamers if this trend continues — but it’s not all bad news. As a result of the cryptocurrency boom, supply has dwindled as miners are scooping up every GPU they can get their hands on.
How much has the GPU industry grown in the last decade?
Experts indicated that the global GPU market was valued at $14.5 billion in 2016, while it was expected to rise to $22.9 billion by the end of 2017 (a 91% increase). The market is currently worth $65.6 billion, which would be an 11% increase over the same period if it continues its current trend. Looking at this growth rate, we can estimate that this could be a 58% increase in revenue for AMD (+$4.4 billion), a 35% increase for NVidia (+$2.5 billion), and a 7% increase for Intel (+$1.2 billion).
In terms of GPU sales, the mainstream has been quick to respond. It is estimated that the high-end gaming GPU market reached $5.5 billion in 2016 and will reach $13 billion by 2020 because of cryptocurrency mining. Assuming the current 5% growth rate continues for 5 years, we can extrapolate that revenue would be close to $200 billion, 2026which would be an 1850% increase over 2020 when it was worth only $13 billion.
It is because cryptocurrency mining and blockchain transactions are becoming more popular daily as more people become aware of them and use them. It is estimated that this figure could hit nearly $300 billion by 2027 if the current rate continues.
A Growing Problem
GPU miners are purchasing large quantities of GPUs with the hopes that they can get a return on their investment. Unfortunately, this has directly affected the prices and availability of GPUs for PC gaming, and it’s only getting worse. Though these price increases are difficult to swallow, they could be just what the industry needs to become more sustainable in the long term.
After all, there’s no guarantee that we can continue mining coins for ten straight years at these prices — so miners jumping into the market now could save themselves from being caught in a bubble later.
It might seem that PC gaming is being sacrificed so cryptocurrency mining can thrive, but this is only temporary pain for long-term gain. Picking your battles is essential, and gaming can continue to be an enormous industry if GPU miners decide to encroach on more traditional markets. So, long-term PC gaming fans, don’t despair. We will all be saved in the end if we all band together against the common enemy, namely GPUs.
Blockchain Optimizes GPU Usage:
It’s worth noting that the current cryptocurrency mining system isn’t sustainable in the long run. Miners are spending $200 million on GPUs every quarter, which isn’t sustainable even with the rate at which cryptocurrency is growing. To fix this problem, developers and companies alike will have to create more efficient methods of processing transactions.
Referred to as the ‘next-gen high-throughput blockchain platform’, their solution allows for higher levels of scalability and security while addressing one of the biggest problems facing blockchain today: feasibility over profitability.
The most efficient way to process transactions on a blockchain is using GPU-accelerated DAGs, known as ‘pipelined DAGs’. Typically, transaction blocks are processed through a series of steps where each step creates a new block or transaction. For each step, extra computational power is required during the mining process. It can be problematic as miners need to monitor this computing power throughout their revenue cycle and ensure it doesn’t exceed a specific threshold.
Not only that, but mining pools will often collaborate in exchange for faster processing times. A connected system of mining pools provides more benefit to miners than individuals taking on more risk.
Blockchain for supply chain management of GPU industry:
Blockchain can solve the issue of scalability by creating a connected and efficient system where multiple parties can communicate directly with each other. The company’s solution will create a private blockchain for their customers to engage in data exchange about GPU resource allocation, specification of DAG, system configuration, and chain-based pricing through collaboration between blockchain applications.
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