What graphics card to use for mining Ethereum (Ethereum upgrade graphics card)

What graphics card to use for mining Ethereum Editor’s Note: This article is from 8btc Bitcoin Information (ID: bitcoin8btc), written by Kyle, and authorized by Planet Daily to be published.

The Ethereum network is a distributed ledger system maintained by miners and developers. It can provide data storage, transaction verification, and other services for various blockchains, allowing users to earn profits through these services. However, the price of Ethereum has fluctuated greatly and has also declined in the past year. Therefore, the most popular mining algorithm at present is ASIC-GPU graphics card Pro. The rise in the price of Ethereum is related to the increase in computing power used in the Bitcoin network. The surge in the price of Ethereum is mainly due to the following two reasons: the increase in Ethereum mining difficulty; the continuous decline in ETH price; the decline in the DeFi boom; the continuous update of Ethereum mining hardware; the sharp increase in mining pool demand.

According to the official introduction by the Ethereum Foundation, mining Ethereum requires a large amount of graphics memory and bandwidth to ensure its security and stability. “Ethereum” is used for block mining, transaction fees, and other activities on the Ethereum network. Due to the high price and difficulty in tracking Ethereum, some people believe that this cryptocurrency will become more expensive or more unsafe. “Ethereum” has recently reached a historic high of over $20,000. According to CoinDesk, this is good news for Ethereum as more mainstream companies are joining the Ethereum ecosystem. “Ethereum” has also gained market recognition: “Ethereum” now has over 1 million active addresses, accounting for about 5% of the total circulation. One of the main reasons for the surge in the price of Ethereum is that the Ethereum miners have invested resources in mining, but they do not really know how to mine Ethereum. Instead, they use specially designed products to achieve this purpose, resulting in the surge in the price of Ethereum. Although most mining machines are running during the upgrade process, many people in the Ethereum community hope to earn additional income from mining Ethereum themselves.

One of the main reasons for the rise in the price of Ethereum is the significant increase in the value of Ethereum tokens (such as the market value of ETH reaching $5 billion). According to the latest research report from The Block Research, approximately 2 billion ETH has been produced so far this year, of which about 30% is used to reward miners for new issuances of Ether rewards (ERC-20 tokens). At the same time, although the sales of Antminer, a mining giant Bitmain’s subsidiary, have decreased, the company still provides more Ethereum products to the market. The price of Ethereum is also rapidly rising because Ethereum is experiencing a “crazy market”. The biggest driving force behind the surge in the price of Ethereum may be the influx of miners. For example, during the bull market in 2018, the average transaction volume of Ethereum was only slightly less than $10 million, but in 2017 this number was slightly less than $30 million. In January 2019, according to CoinMarketCap data, the spot trading volume of Ethereum has reached $3.06 billion.

Ethereum Upgrade Graphics Card

According to bitcoinist news, the latest progress in the Ethereum 2.0 upgrade has attracted widespread attention from the graphics card industry. Currently, many mainstream mining manufacturers are using the latest E2R+ (Ethereum Classic), and the new version is expected to be released in November or early December this year. With the rise in ETH prices and increased demand for ETH, there have been some problems in the graphics card market, such as limited GPU performance and shortage of memory. Due to high Ethereum network transaction fees and the dominance of Gas fees, graphics cards are unable to function properly. As a result, a batch of graphics card manufacturers have had to sell their products to avoid losses in the case of a significant increase in the price of Ethereum.