We will wait longer for cheap cards. Ethereum's big change has been postponed

When we hear or read about “mining cryptocurrencies on graphics cards,” Ethereum is most often involved. Although the Blockchain system related to this cryptocurrency was expected to change from PoW to PoS before the end of this year, today it turned out that the big change of Ethereum had to be postponed.

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1 The Ethereum change has been postponed. We will wait much longer for cheap graphics cards

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The Ethereum change has been postponed. We will wait much longer for cheap graphics cards

As a reminder, as part of The Merge, to take place at the end of 2021, Ethereum was going to abandon the requirements of dedicating computing power (Proof of Work) to “mining” in favor of the so-called Proof of Stake. This in turn would cut energy consumption by 99.95% from over 44 TWh being consumed now, and each transaction would require only 35 Wh, according to a summer calculation, instead of requiring around 84,000 Wh of energy.

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Moving to Proof of Stake means the computing power would be directly tied to how much Ethereum a given node / miner / user has on their account. However, the creators informed that the expected from May change of the Ethereum network from Eth to ETH2 will not come this year, because the last stage of “The Merge” has been postponed to the first half of 2022.

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This will affect the situation on the graphics cards market, the demand of which was supposed to decrease after Ethereum’s transition to a network that does not require GPU computing power. So we have just lost another bastion, which is to guard the return of graphics card prices to normal.