HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Nvidia CEO Huang: “Ethereum Is Going To Be Quite Valuable”

Altcoins 2021/06/13 00:45 by Taylor Scott

If you weren’t sure the stance for Nvidia CEO Jensen Huang when it comes to Ethereum’s upcoming shift to proof-of-stake, no need to question it further. Huang is clearly optimistic about Ethereum’s future. In an online-only Computex event, he fielded a variety of questions ranging anywhere from his thoughts on the metaverse to global semiconductor shortages.

Huang: A ‘Reasonable Bull’ Perspective

Jensen Huang’s comments around Ethereum in particular showed great optimism. When asked broadly about crypto and the supply and demand constraints around Nvidia products, Huang was clearly excited; “The reason why Ethereum chose our GPUs is because it’s the largest network of distributed supercomputers in the world. It’s programmable. When Bitcoin first came out, it used our GPU”, he said. “Am I excited about proof of stake? The answer is yes”, Huang added. “As we go towards that transition, it’s now established that Ethereum is going to be quite valuable.” He went on to discuss a new Nvidia product, CMP, which can address the crypto mining consumer and put ease on GeForce supply in order to deliver more GeForce products to gaming consumers.

It was still tempered optimism for Huang here, however. When asked later in the session about limiting hash rates in the future, Huang shared more perspective around his thoughts on crypto. “I believe that cryptocurrency is here to stay. It’s a legitimate way that people want to exchange value”, he said. “More important, Ethereum and other forms like it in the future are excellent distributed blockchain methods for securing transactions.” Huang added, “cryptocurrency is going to be here to stay. Ethereum might not be as hot as it is now. In a year’s time it may cool down some. But I think crypto mining is here to stay.”

Related Reading | TA: Ethereum Revisists $2,400, Here’s What Could Trigger More Downsides

More From The Field Of Questions…

The Nvidia CEO made some other interesting comments as well. When asked about virtual worlds, he said that he felt that there would come a time that there would be “a larger market, a larger industry, more designers and creators, designing digital things in virtual reality” than designers in the physical world today.

He also used the press opportunity to show off Nvidia’s newest facility, ‘Voyager’, set to be host to over 3,000 of the company’s employees, which Huang described as “a city inside a building”.

Huang also shared his excitement around the success of the RTX 30 series, the firm’s growing enterprise business, and the future of AI. What’s next for the Nvidia’s spurring growth? Huang and company clearly have a number of ideas, and crypto mining clearly lives at the forefront.

Nvidia's Jensen Huang is cautiously optimistic about Ethereum's popularity in the next year. | Source: ETH-USD on TradingView.com

Related Reading | Ethereum At A Discount, Why ETH Looks Like BTC In 2017

Featured image from Pixabay, Charts from TradingView.com

0 Like(s)



You should also read...

Mining 28/08/20 19:21 by Livine Sanchez
Multimine’s User-Friendly Platform Aims at Making Everyone to Start Mining Regardless of basic Knowledge
With so many competitive cloud mining companies currently in existence, crypto mining has proven to be one of the hottest businesses of the year. While there are so many genuine cloud mining companie...
Read More
Crypto 09/11/20 18:47 by Guest Author
Crypto Market Analysis: 9th November 2020
Bitcoin continues to be buoyed by positive price action, hitting a high of $15,800 on Friday. Altcoins started off the week on a downward trend but eventually managed a strong turnaround. And indices ...
Read More
Mining 04/05/21 14:22 by PR DESK
ByBit Set to Launch Mining-as-a-Service Product for Ethereum Miners
Cryptocurrency exchange ByBit has announced that it will launch a mining-as-a-service (MaaS) product dubbed ByBit Cloud Mining in May. Notably, the firm indicated that the cloud mining product will h...
Read More
Mining 01/06/21 15:00 by NewsBTC
Which Are the Best Cryptocurrencies to Mine?
The mining of cryptocurrencies can be a lucrative venture, depending on which consensus algorithm the ecosystems use. Finding the right cryptocurrency to mine can be a lot more complex than people ass...
Read More
Mining 14/07/21 04:03 by Taylor Scott
3,000+ PlayStation Consoles Discovered In Raid, Modified To Mine Crypto
We’ve seen esports and gaming get integrated in the crypto landscape left and right lately – but not quite in ways like this. Thousands of PlayStation consoles were  last week modifie...
Read More