An American programmer who invented the cryptocurrency BitTorrent has proposed a new algorithm for the digital currency Chia. Unlike traditional mining with graphics cards, mining is proposed to be done using storage devices.
How to mine cryptocurrency using SSD and HDD
The “space and time” model is not new in physics. But no one thought to use the technology for the benefit of consumers. However, a daring individual decided to create chaos in the storage market.
The essence of Chia cryptocurrency mining is in redistributing information flows and their rapid exchange between devices. No complex mathematical calculations performed by a graphics accelerator are needed here. The operation is simplified to the maximum.
But you need to have a lot of free space on your computer. And we’re not talking about a couple of terabytes. At least ten terabytes. All solid-state drives with capacities of 4-18 TB are affected. The frenzy has already reached its peak, as buyers are now interested in larger capacity HDDs.
What are the prospects for mining cryptocurrency with SSD and HDD
There are several development options for this new mining method. And everything depends directly on the price of the main currency Bitcoin. After all, all capital revolves around just one cryptocurrency. Whether there will be growth or at least no decline, Chia can be profitable. And not only Chia. In just a couple of months, we will see new cryptocurrencies mined using this technology.
But ordinary PC users should not envy. First, they were protected from gaming graphics cards. Now, a shortage of firmware is looming. Both SSD and HDD are affected. It is hoped that the cryptocurrency mining technology for Chia will fail faster, as solid-state drives have a significantly limited write cycle for cells. Time will tell. Meanwhile, it’s better to hurry to the store and quickly buy SSDs for the next 2-3 years.
