One of the best graphics cards manufacturer, Nvidia unveils a new processor chip specially built for Ethereum mining.
By posting an official blog post, Nvidia mentioned GeForce is made for gaming, CMP is made to mine. They admitted that GeForce RTX 3060 GPUs are less desirable to miners and launching their new NVIDIA CMP for professional mining level.
According to Nvidia, their GPUs are heavily programmable. Users who taking the best advantage of those GPUs are constantly discovering new programs for them which includes cryptocurrency mining.
But let me briefly explain first, what is mining and why mining needs powerful processor chips. Cryptocurrency mining is some kind of mathematical disbursement. It does validate transactions that happen on the blockchain network. The thing is those are “encryption” and “decryption” based combined with an advanced mathematical algorithm. So it requires processing power. That’s where mining needs GPUs and Processors. The mining rate proportionately proportional to the power of the GPU or Processor. It is called Hash power.
However, Nvidia further claims that RTX 3060 software drivers are designed to detect specific attributes to the Ethereum mining algorithm and it limits the hash rate by around 50%. And that is the only minus point unless it has top-edge technologies.
While introducing the processor chip specially made for Ethereum mining, NVIDIA CMP, said CMP doesn’t do graphics and it optimized for the best mining performance while maintaining efficiency.
According to The Block, Nvidia seems to be attempting to build a dedicated marketplace for cryptocurrency miners. The above versions of CMP will release in Q1 and Q2 2021.