August 1, 2021

“Ethereum is going to be very valuable” – Latest News

If you weren’t sure about the position of Nvidia CEO Jensen Huang regarding Ethereum’s next move to proof of stake, no need to question it. Huang is clearly optimistic about the future of Ethereum. At an online-only Computex event, he answered a variety of questions ranging from his thoughts on the metaverse to global semiconductor shortages.

Huang: a “reasonable bull” perspective

Jensen Huang’s comments around Ethereum in particular have shown great optimism. Asked roughly about crypto and the supply and demand constraints around Nvidia products, Huang was clearly excited; “The reason Ethereum chose our GPUs is because they are the largest distributed supercomputer network in the world. It’s programmable. When Bitcoin first came out, it was using our GPU, ”he said. “Am I excited about Proof of Stake?” The answer is yes, ”added Huang. “As we move towards this transition, it is now established that Ethereum is going to be very valuable. He then discussed a new Nvidia product, CMP, which can address the crypto-mining consumer and facilitate the provisioning of GeForce to provide more GeForce products to game consumers.

However, the optimism was still tempered for Huang here. Asked later in the session about limiting hash rates going forward, Huang shared more perspectives on his thoughts on crypto. “I believe cryptocurrency is here to stay. It’s a legitimate way for people to trade value, ”he said. “More importantly, Ethereum and other similar forms in the future are great distributed blockchain methods for securing transactions. Huang added, “Cryptocurrency will be here to stay. Ethereum may not be as hot as it is today. In a year, that may turn some people off. But I think crypto mining is here to stay.

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More from the area of ​​questions …

The CEO of Nvidia also made other interesting comments. Asked about virtual worlds, he said he believed there would come a time when there would be “a bigger market, a bigger industry, more designers and creators, designing digital objects in virtual reality” than designers in the physical world today.

He also took the opportunity to showcase Nvidia’s latest installation, “Voyager”, which is expected to accommodate more than 3,000 company employees, which Huang described as “a city within a building”. .

Huang also shared his enthusiasm for the success of the RTX 30 series, the growing business of the company and the future of AI. What’s next for Nvidia’s stimulating growth? Huang and the company clearly have a number of ideas, and crypto mining is clearly in the foreground.

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

Related reading | Discounted Ethereum, Why ETH Looks Like BTC In 2017

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