Nvidia Ceo Praised Ethereum Prospects After Switching To Proof-of-stake

by Coinworldstory

Ethereum Has Earned A Reputation As A Fully Fledged, Established And Trusted Network, Nvidia Ceo Jen-hsun Huang Said In A New Interview With Venturebeat . Ethereum Miners Are Among The Important Consumers Of The Company’s Graphics Cards, But It’s Time For The Second Largest Cryptocurrency To Move To An Updated Proof-of-stake Consensus Mechanism, He Added.

“I am Happy With Proof-of-stake? The Answer Is Yes, Huang Said. “I Believe That The Demand For Ethereum Has Reached Such A High Level That It Is Time For Someone To Introduce An Asic Or Another Method.”

In April, The Chinese Mining Company Bitmain Announced The Antminer E9 Asic Miner For Ethereum, Producing 3 Gh / S, Which Is Equivalent To 32 Geforce Rtx 3080 Video Cards. However, Given The Global Shortage Of Chips, Such Devices Are Unlikely To Be Available To Everyone, And Their Own Restrictions The Existing Ethereum Protocol Does Not Allow Cryptocurrency To Handle High Loads, Which Is Why It Often Suffers From Congestion And High Fees.

Nvidia Itself Recently Began Limiting The Hash Rate When Mining Ether On Its New Graphics Cards And Has Released Specialized Processors (Cmps) Targeted At Large Miners.

“it Is Now Clear That Ethereum Will Be Quite Valuable,” Huang Added. “In The Future, Transactions Will Be Processed Much Faster, And With So Many Developers Building Their Applications On Top Of It, Ethereum Will Remain Valuable.”

He Also Noted That Bitcoin, Ethereum, And Many Other Cryptocurrencies First Used Nvidia Gpu Mining As It Turned Out To Be The Most Effective Way To Gain Trust Before Moving On.

“Ethereum has the opportunity to implement the second generation, which will continue the work of the platform approach and all services based on it. It works well. Many people rely on it to participate in decentralized finance and other things, ”said the CEO of Nvidia.

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