Re:How badly is cryptocurrency worsening the chip shortage?
by TacticalCoder on Friday November 12, 2021 @12:20PM
(#29201894)
> How come eth doesn’t use ASICS?
Ethereum was conceived to be ASIC-resistant from day one. They even considered making the coin resistant to GPU-mining but then changed their mind.
It's not that hard to be ASIC-resistant and seen that ETH GPU miners are still profitable to this date, they obviously succeeded in preventing ASICs from being economically doable to mine ETH.
> Also when they switch to pos how do they transfer your coins over?
Ethereum is already on PoS, but partially. At the moment mining is going on both chains: PoW and PoS. In a few months it's going to be PoS only. All the coins from the "old" PoW-only chain will still exist and be usable on the PoS-only chain.
Ethereum was conceived to be ASIC-resistant from day one. They even considered making the coin resistant to GPU-mining but then changed their mind.
It's not that hard to be ASIC-resistant and seen that ETH GPU miners are still profitable to this date, they obviously succeeded in preventing ASICs from being economically doable to mine ETH.
> Also when they switch to pos how do they transfer your coins over?
Ethereum is already on PoS, but partially. At the moment mining is going on both chains: PoW and PoS. In a few months it's going to be PoS only. All the coins from the "old" PoW-only chain will still exist and be usable on the PoS-only chain.