In light of the recent performance of the Nvidia cards, Ethereum miners are most likely going to be drawn into purchasing the cards.
When Nvidia launched a new system to help it drastically reduce the hash rate of mining the second largest crypto asset by market cap, Ethereum, on its new RTX 3060 graphics card last month, little did it know that malicious actors were waiting in the wings to pounce on it. Reports have emerged that crypto miners have been able to outmaneuver the system and they are now able to automatically unlock new performance levels.
According to reports from PC Watch, a Japanese tech news website, Nvidia’s protection could be breached without any modification to the driver of BIOS. This claim on the new capacities for Ethereum mining was later confirmed by another tech site, ComputerBase, which revealed that Nvidia Beta Driver, 470.05, was unlocking uncharted performance levels for RTX 3060 owners. The claims made by these two sites were confirmed to be true by Andreas Schilling, an editor at Hardwareluxx.
This means that the beta driver has not been able to achieve the desired purpose of its design. The 470.05 beta drivers were designed to test the Windows Subsystem for Linux (WSL) performance and new features like OpenCL 3.0 support. And interestingly, Nvidia originally was able to successfully restrict RTX 3060 mining performance which pushed crypto miners from buying the cards. However, in light of the recent performance of the cards, miners are most likely going to be drawn into purchasing the cards.
Ethereum Developers vs Miners
Ethereum developers and miners have been at loggerheads since it became imminent that EIP-1559 would be included in the London hard fork that would be implemented in July. Miners do not want this proposal included in this new development as it could have an effect on their revenue generation model. Meanwhile, other members of the ETH community see this proposal as a welcome development as it puts a peg on the high market fee that tends to come with the protocol.
Ethereum miners have promised a show of force to register their displeasure against the proposed EIP-1559. On the other hand, developers have come up with a newer proposal, EIP-3368 which would increase ETH block rewards to three units of the coin before it is later reduced to one unit of the asset after the implementation of EIP-1559. This new proposal is being touted as a way of helping miners come to terms with the new development in the field.
According to Tim Beiko, an Ethereum developer, the proposals in EIP-3368 are yet to be accepted and more debates are welcomed over the latest proposal.
Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.
