“If Ethereum switches to proof-of-stake (PoS) as planned. It will eliminate the need for mining. including the need for a video card And it has dramatically reduced energy demand,” Morgan Stanley said in a report Monday.
Ethereum developers are hoping that “the Merge” will happen by September. and possibly as early as August but due to the previous delay Therefore, it is not surprising that moving from proof-of-stake It will be postponed early next year, the report said.
Crypto mining has had a huge impact on the graphics card market over the past 18 months. The bank said it generates about 14% in revenue in 2021, while at the same time “Contributed to a massive graphics card shortage. which has caused the price to rise greatly.”
Graphics card requirements should be slower. which began to decline in the first half of the year As noted by the bank
Morgan Stanley forecasts that demand for graphics cards will continue to decline in the first quarter of next year. Due to the disappearance of working from home, cryptocurrency migration to PoS
Ethereum Miners May Sell Used GPU Devices After the Merge As Mining Unprofitable Other cryptocurrencies, the bank said, adding that net supply of ether (ETH) is expected to decline after the Merge and possibly shrink. Therefore, it is unlikely that all the miners will become stakers.
Moving to PoS doesn’t solve Ethereum scaling issues, such as the number of transactions per second. or result in lower transaction fees The report added
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