New Era in Cryptocurrency Mining

new era in cryptocurrency mining
new era in cryptocurrency mining

The blockchain project Chia Coin, whose foundations were laid in 2017, is ready to break the ground in the cryptocurrency market. The increasing popularity of cryptocurrency mining has increased the energy consumption and carbon emissions for this business to a level that the whole world is worried about. This excessive energy consumption, which reveals the need for different production techniques, caused all attention to be turned to Chia Coin, which has a different production technique.

In blockchain mining, the game is broken

Using unused free disk space on the user's hard drives instead of high processing power, Chia Coin differs from its competitors in terms of energy efficiency. Chia Coin is a game changer in blockchain mining by utilizing idle disk space on the computer.

While high processing power graphics cards are used for Bitcoin and cryptocurrency mining with similar logic, hard disk and SSD products with high instantaneous data reading speed are used for Chia Network mining. With this feature, Chia Coin brings to mind the stock crisis in the graphics card category in the past period. As it is known, new and high processing power video card stocks used in the production of crypto money have melted in a short time in the past period.

First choice will be SSD products

Since Chia mining basically uses idle storage units, SSDs with high capacity and high instantaneous read/write speeds are predicted to be the first choice. SSD products stand out with their instant read and write speeds, which are quite high when compared to HDDs.

Measures started for stock crisis

Incehesap's Co-Founder Nurettin Erzen stated that they have taken precautions against all stock crises that may arise from Chia mining, and said, “Because Chia Network can read/write much more data in one second than SSDs and hard disks with classical storage solutions, Chia It will be the first choice of people who are preparing for network mining. Data storage product manufacturers, who learned the necessary lessons from the stock crisis in graphics cards, have already started to take measures for the SSD and HDD stock crisis, which is likely to be experienced with Chia Network.

Mentioning that, despite all the measures, if a similar cryptocurrency mining frenzy happens at the end of 2020, these measures will not prevent the market from churning, Erzen said, “For the production of these devices, chip and semiconductor production should increasingly continue. The crisis experienced in any of the chains involved in the supply of these products may reflect on the entire sector.

“We aim to keep end consumers out of stock wars”

Stating that he has taken measures against all stock crises that may arise from Chia mining, Erzen said, “Within the scope of these measures, we gave priority to orders for data storage products suitable for Chia mining. Soon, we will open a new category called Chia Products and present these products to our visitors. With this strategic move, we aim to act like manufacturers who plan to deliver products directly to the big players in the Chia farming business in the Far East and keep the end consumers out of stock wars,” he said.

Stating that blockchain technology and cryptocurrencies, which have left their mark on the last 10 years, will continue to be in our lives in the coming period, Erzen continues: “Even as you are reading these lines, new blockchain technologies are being developed that are at the project stage and will guide the digital world. sector focuses on instant price movements rather than these technologies and the potential technological developments that these technologies promise to provide. It only treats them as a currency. When our perspective on these technologies reaches a point that is independent of instant price movements, we will see that blockchain technology begins to contribute more to our lives. I hope we reach those days as soon as possible.”

Armin

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