After the disappointing second-quarter earnings that couldn’t meet analysts’ expectations in August, Nvidia was smacked with a new export license requirement for its future chip sale with China. The past six days have been significantly rough for Nvidia, with share pricing falling rapidly below expectations because of the merger. Buy Nvidia stock nowĪmidst intensified inflation, low demands, pandemic and supply chain limitations, Nvidia went through tough times since the beginning of this year. The Ethereum merger is expected to happen around September 15. On the flip side, this may swap away hundreds of billions of dollars in value (Ether’s market cap is close to $200 billion and many worthy tokens). Well, it doesn’t come with the certainty of smashing the POW but accounts for clear signals from entrepreneurs and decision-makers so far. Moreover, Ethereum POS also limits the stake and cost, unlike POW. In case of Ethereum, this would mean returning 0.1% of global electricity usage to people,” said Pratik Gauri, co-founder & CEO, 5ire. “I am personally very excited about the Ethereum Merge and the upgrade to the proof of stake consensus mechanism, primarily because it will lower the network’s footprint by 99%. According to the Ethereum Foundation, this concept is introduced to reduce Ethereum’s energy usage by 99%. It’s a new system for authenticating crypto transactions. The merge represents the shift of Ethereum’s proof of work (POW) to proof of stake. Half of this slowdown comes from the softening PC market, with researchers reporting a sharp dip every year, almost 12.8% for 2022, and partly from the vanishing crypto miners. Currently, the overall GPU unit shipments have declined by 15% from last quarter.
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