This new cryptocurrency could cause an SSD or hard drive shortage

This new cryptocurrency could cause an SSD or hard drive shortage
Crypto miners have exacerbated graphics card shortages of late, adding to the problems faced by frustrated gamers looking to buy a new GPU, and a new cryptocurrency on the scene could potentially affect a different set of PC components, namely the units. Not yet available for purchase, Chia is designed to be a green cryptocurrency, so instead of relying on power-hungry GPUs (or ASIC devices), it harnesses the power of disks: SSDs or hard drives that They consume much less energy. However, assuming Chia is successfully established as a green alternative in the cryptocurrency realm, the problem is that miners (or rather 'farmers') could buy SSDs or hard drives. ). In fact, as Hong Kong-based tech site HKEPC reports (as Tom's Hardware has pointed out), this is already happening in Asia; in fact, it's known as "panic buying." The Hong Kong market has seen an increase in sales of hard drives with a capacity of 4TB to 8TB, so much so that the forecast is that due to demand, the prices of hard drives and SSDs may increase. In Hong Kong from HKD200 to HKD600 (which is about €25 to about €75; about €20 to €55, or AU$30 to AU$100). Which is a worrying development on top of existing supply chain issues caused by the pandemic and recent reports of key component shortages and a power outage that is expected to drive up SSD prices. The best news is that the most in-demand SSDs are heavy-duty commercial models, as Chia drives the drives with constant read and write, but consumer SSDs can be used in a pinch. Tom's further notes that one of China's major manufacturers, Jiahe Jinwei, told MyDrivers that it has already sold some high-end 1TB and 2TB NVMe SSDs, and the company says it will implement the restrictions put in place to prevent minors from passing vacuum. consumption patterns. In fact, apparently, Jiahe Jinwei plans to market an SSD specifically for cryptocurrency use, in the same way that there are dedicated GPUs for miners.

Test of space and time.

How exactly does Chia work, you might be wondering? Rather than the traditional "proof of work" model of cryptocurrency, Chia, which is the brainchild of Bram Cohen, the inventor of BitTorrent, operates on a "proof of space and time" basis; space test referring to storage capacity, with time added as an additional factor. As Chia FAQ explains: “Proof of space is a cryptographic technique in which testers show that they are allocating unused disk space for storage space. To be used as a consensus method, the proof of space must be linked to the proof of time. PoT ensures that block times are time consistent with each other and increases the overall security of the blockchain. "The bottom line is that instead of having large mining efforts, chia can be 'farmed' and these farmers allocate dedicated cryptocurrency sections (plots) to their readers. The makers observe: “Farming remains decentralized because anyone who has installed our software and own plots you can earn the next block...it depends on free hard drive space, and anyone with a mobile phone, laptop or corporate network tends to have extra space that is currently unused." Unlike mining, once you've finished farming your storage, you can reuse it, for example, to store your family photos." As mentioned, Chia has yet to be released as a digital product that you can buy, but is currently being released. is in a pre-cultivation phase, as explained in the FAQ.