The Ethereum blockchain''s long-awaited "merge" event is finally coming up, and it''s a great day for anyone out there who want to get the next-gen Nvidia Lovelace graphics cards (such as the Nvidia GeForce RTX 4090) that we''re anticipating in the next few weeks.
Ethereum is the world''s second-largest cryptocurrency after Bitcoin, and it has been a particularly troublesome cryptocurrency for PC gamers. It is derived from a technique called "proof-of-work," which requires a computer to solve an unusual mathematical problem in order to generate a token.
The problem becomes exponentially more complex as time goes on by design, requiring even more powerful computers to handle the problem. Ethereum miners developed a revolutionary solution, namely, by using the best graphics cards on the market in two years, and by doing mining tasks large and small.
After the first round of sales of Nvidia Ampere graphics cards in late 2020, demand for them was always high, but only finding one in stock has been nearly impossible in the past two years as scalpers used bots to buy up stock to sell at outrageous prices.
Cryptominers, who competed in the Ethereum game, were apparently okay with buying up these graphics cards at low pricing, which just caused the graphics card shortage. Even the best cheap graphics cards were not spared, as five and six year old cards disappeared off store shelves to wreak havoc.
All of this has changed the world of math into carbon emissions at a brutal rate, and cryptomining now consumes as much energy as a small industrialized country in Europe. This has prompted Ethereum''s move to Proof-of-Stake, a technology that doesn''t require burning through algorithms for years on end.
According to Coindesk, this is the so-called merge that happened on September 15, and Ethereum is now off the Proof-of-Work model. Former Ethereum miners who combined tens and hundreds of thousands of dollars into GPU mining are now looking for other proof-of-work coins to mine instead, including a hard-forking of the Ethereum blockchain into a totally different cryptocurrency called Ethereum Proof of Work.
Bitcoin, which primarily uses advanced ASICs to mine, will continue to hum along as usual, and has no intention of moving to the new proof-of-stake system.
Analysis: Will the merger win a lot of money from Nvidia''s Lovelace launch?
PC gamers are less likely to have a better time for the Ethereum merge. In less than a week, we are expecting the Nvidia RTX 4090 and possibly the Nvidia RTX 4080 as well, and these cards will still be ripe targets for cryptominers who are looking to increase their hashrates.
There are certainly not other coins that would attract large-scale miners, but evidence has been that graphics card prices have dropped and stock prices. These cards would still be purchased as they were previously.
This means that things might change, and another NFT or decentralized finance project may bloom like tulips on a Dutch shore, causing the next bubble to subside, but with our current economic environment, inflation, and an energy shortage, it''s unlikely to happen in the near future. This prevents a major purchaser off the market for graphics cards for the next generation of graphics cards, thus gamers have a much better chance of getting one this time around.