Ethereum co-founder, Vitalik Buterin has stressed on the electricity costs of ASIC mining, stating he’s seeking the views of like-minded blockchain experts about the expected long-run ratio of hardware costs to electricity costs of ASIC mining.
ASIC, an abbreviation of Application-Specific Integrated Circuit, is termed as an Integrated Circuit (IC) invented for a specific purpose rather than diverse purposes. ASIC is known as the improvement of CPU (Central Processing Unit), GPU (Graphics Processing Unit) and Field-Programmable Gate Array (FPGA) in Bitcoin mining hardware.
Vitalik Buterin On Electricity Costs of ASIC Mining
Cryptocurrency mining can be referred to as the process in which many forms of digital currency pass through verification, preceding their addition to the blockchain digital ledger. The process is well-known to be power consuming, which propelled countries like China to propose the ban of Bitcoin mining.
About 24 hours ago, Vitalik Buterin shared some tweets in succession, bothering on the expected long-run ratio of hardware costs to electricity costs of ASIC mining.
He pointed out that the last time he did the calculation, hardware was 75%, while electricity was 25%, “wondering if that has or is expected to change.”
Giving his take on his previously asked question, he said if hardware dominates as indicated in the mathematical illustration above, then the argument that ASIC mining is not vastly power consuming or wasteful due to ASIC’s added ability to turn on and off in order to absorb spare power capacity, which would eventually go unused is completely unfounded.
In the other way round, but not depicted in the result of his shared mathematical calculation, he said: “if electricity dominates, the spare capacity/heating dual-use argument is more credible, but then the argument that ASICs have some of the benefits of PoS no longer holds water.”
Powerful New Ethereum Miner Advances to Final Stage
As reported by CoinDesk on 11th September 2019, after months of delay with huge investment, a developing China-based manufacturer, Linzhi, is advancing to produce its new Ethereum and Ethereum Classic mining machines.
The upstart company related that 37 wafers had been ordered from Taiwan Semiconductor Company, which was expected to enhance the company to possess the capability of making about 200 ASIC miners.