A Big Thanks To Blockchain As The GPU Industry Is Booming
Here is an account of the GPU industry and how the blockchain technology is influencing it. Read for more info
The GPU Industry
It is interesting to note that one of the most surprising beneficiaries of the cryptocurrency gold rush of the past few years is the GPU industry and the vital component for those mining computers whereby to efficiently solve the hashing algorithms as the GPUs have now become a premium commodity leading to more scarcity in the supply and a spike in the prices for even lower-tier graphics cards.
Hereafter this has created a complex situation that this left many sectors without access to technology vital for their work. Therefore besides consumers have seen supply shortages and heavily distorted prices. The fact is that even so the market is booming and blockchain is largely to thank. So without these GPUs, it would be significantly harder and take substantially longer to mine coins. This is however the relationship seems to be a two Way Street as the new blockchain applications are offering new use cases that could continue driving GPU prices higher while simultaneously sustaining demand at current levels.
To state the fact in this context the introduction of the computing power as a service and also especially on the blockchain is redefining computer usage as with blockchain’s ability to incentivize the participation of those companies that thereafter offer GPU- as-a-service while encouraging users to create GPU pools that can be monetized or convert their mining rigs as they replace GPUs with ASIC mining tools as where the case is that GPU will continue its upward trajectory propelled by blockchain.
There Is A Growing Problem
Hereafter the cryptocurrency boom has made mining an incredibly profitable endeavor even as the difficulty of mining continues to increase exponentially, as it was once possible with a single computer whereas now it requires many of the large operations that come with hundreds of computers thereby networked and pooling the processing power to solve hashes more effectively. it was found that regular CPUs do not have the dedicated memory card capacity to process hashing algorithms quickly enough where GPUs on the other hand have built-in dedicated memory making them ideal for mining.
Hence the need for bigger and faster mining computers has created a serious problem in the GPU and computer components markets as miners rush to purchase every available GPU as quickly as they can. While it was found that the prices have now skyrocketed for even the lower tier graphics cards and the many stores and retailers have even had to establish measures thereby to prevent those single users thereby from buying out their supply.
How Does Blockchain Optimize GPU Usage
However, outside of mining, blockchain and GPU have represented an ideal coupling where the formers distributed networks offer users a new way to conceive of computing power, leveraging the total of the users thereby creating the virtual supercomputers that completely rely on the collective power of the network. It is then found that there is an increasing demand for computing-as-a-service evidenced by the growth in popularity of cloud storage and computing, as well as the emerging market of GPU-as-a-service.
There are several tech giants already offering these services though they remain fully centralized and thus somewhat inefficient. Here Google Cloud offers GPU service as does Amazon Web Service, as also Nvidia starting delivering solutions with several blockchain-based platforms ready to compete by employing a model that relies less upon central control by focusing instead on more democratized networks.
Thereafter the online rendering firm Leonardo Render has for example already planned big things using blockchain. Thereby the company offers real tier rendering services by leveraging its network’s GPU power to offer users fast and low-cost tools as the company already counts upon 23,000 GPUs thanks to partnerships, with GPU hosting giant Gigawatt in effort to help create and agencies scale their graphic turnover.
It was then found that similarly, Golem has used blockchain to combine its users spare computing power to create a virtual supercomputer, as the company plans to make it accessible to all even though it is still in the initial phases and so its impact on the market is not yet been grasped. There are others like OTOY converting their services to the blockchain to continue enhancing their offerings.
To Conclude, What Is The Future Boom
Whereas the price of physical components continues to soar, there is something that seems likely as mining remains as popular as ever where more regular users will be faced with the need to access GPU computing power with no physical solutions, as the blockchain allows the GPU industry to collectively revolutionize its sales model, deprioritizing retail sales and creating massive networks whereby the users and companies can help leverage to unleash the unparalleled processing and the rendering power. Hereby as the GPUs are replaced by components like ASICs for mining the flood of used components may even make it profitable to continue using them for a different albeit blockchain-related network.