The miners have been identified on many occasions as the main culprits for the increase in the price of dedicated graphics. However, in recent months the situation has become somewhat more complex. Despite the current pessimism, we may see an improvement on this front throughout 2022 as Ethereum 2.0 aims to take a 180-degree turn in the mining process with this cryptocurrency.
To be more specific, the Ethereum Foundation has published an entry on its official blog to ask the community to start using the first Ethereum 2 testnet, whose name is Kintsugi, to become familiar with it. It is important to note that the second major version of the cryptocurrency is still under development, and it seems that this will continue to be the case in the coming months.
Those responsible have made the appeal (which is accompanied by error reporting and support to resolve doubts) because Ethereum will stop using the GPU shortly, representing a radical change coming, at least, for a year.
The decision has been made with the purpose, among other things, of reducing energy consumption and thus being a greener option. This can impact a decrease in GPU demand, more so considering that it is possibly the second most popular cryptocurrency after Bitcoin. After conducting the tests, which will take a few months, the merger with the central node will take place.
It seems that Kintsugi will not be the only testnet, as the Ethereum Foundation could launch others to find and correct vulnerabilities and security flaws before completing the transition to Ethereum 2. Although no dates have been presented exact, it seems that the intention is to finish the migration by mid-2022.
In short, and focusing more on users, Ethereum miners have approximately six months to extract as much revenue as they can via GPU. Of course, even though only a few cryptocurrencies monopolize the media focus, the reality is that miners have enough alternatives to continue using the graph, among which are Raven, Grin, and Monero, so we will see to what extent Ethereum 2 will alleviate pressure on the dedicated graphics market.
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