4G graphics card "expires", ETH2.0 is coming, where will Ethereum miners go?

Editor's Note: This article comes fromGolden Finance, reprinted by Odaily with authorization.

Golden Finance

However, forEthereumIn 2020, there is nothing more attractive and eye-catching than Ethereum in the currency circle. Whether it's DeFi or ETH2.0, Ethereum's voice as a bull market catalyst is getting louder.

However, for

Ethereum

As far as miners are concerned, there is not much time left for 4G graphics card mining machines.

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As we all know, the Ethash algorithm consumes a lot of graphics memory and is a memory-hard algorithm. Specifically, the Ethash algorithm requires the verification information of the new block to contain the encrypted information of all previous blocks. This is the DAG file (DAG is also called a directed acyclic graph), and this file needs to be stored in the video memory during mining. Therefore, to mine Ethereum, the video memory of the graphics card must be larger than the volume of the current DAG file.

In June 2016, Ethereum adopted this design in algorithm optimization. Since then, this DAG file has continued to grow at a rate of about 520M per year, and by December 2020, the file is expected to reach 4G.

According to investoon.com data, the current Ethereum DAG file is 3.91G, and it is expected that by December 25, the DAG file will reach 4G. The Ethereum Classic DAG file of the same root and family has reached 4G. This also means that the 4G graphics card mining machine will not be able to meet the conditions required for Ethereum mining, and the entire army will be wiped out.

Time is running out, and the sword of Damocles hanging over the heads of 4G graphics card miners will eventually fall.

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The way out for 4G graphics cards

A gentleman does not stand under a dangerous wall. If the 4G graphics card wants to continue mining Ethereum, there are currently three effective solutions:

2) To expand 4G video memory to 6G or 8G, the cost of a single modification is relatively high, and miners need to calculate whether it is cost-effective according to their own conditions.

3) Replace the high-capacity 8G graphics card.

Shenyu, the co-founder of F2Pool, told Jinse Finance, “There are two major options for 4G graphics cards. The first is to refurbish the video memory. Refurbish and sell in the second-hand market or flow into the hands of gamers. On the whole, the value preservation ability of graphics cards is not bad, and the demand is relatively large, but now compared to the beginning of the month, second-hand 4G graphics cards have fallen a lot. For big miners Speaking of it, it may be more cost-effective to replace the video memory, because these graphics cards have paid back many times, and the extra cost is not high for everyone.”

Shenyu further pointed out that the underlying logic of the residual value of 4G graphics cards is actually the support of other currencies, but there are not many currencies that can be mined at present, or there are not many 4G graphics cards whose income can carry a large number of 4G graphics cards. At present, the value of 4G graphics cards may only be able to rediscover the game market, especially the low-end market. For small mining coins, there may still be some opportunities to carry the computing power of the graphics card and have some innovations of their own in the process.

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How long can miners continue digging?

In fact, miners are not only facing the problem of mining machines. Ethereum 2.0 is getting closer and closer, and miners will also be nervous. How long can they mine? In the process of transforming from PoW to PoS, how can we obtain the maximum value?