How Blockchain will Change Markets
The rise of cryptocurrencies and ICOs are expecting to have a dramatic change on international markets. No longer will people just trade straight up forex and different fiat currencies, but now trading platforms will be able to trade cryptocurrency across foreign exchanges.
Decentralized apps are also becoming a huge deal. The whole way we communicate may even change as a result. This includes the emergence of smart contracts, Ether’s own development platform, as well as ICO based funding for large tech startups.
Bitcoin itself, is taking control of the overall cryptocurrency market with the highest market cap and a price worth $2.5k as of the time of this article.
According to charts, Bitcoin’s highest rise have been in June 2017 where it reached passed 3 times its January 2017 value but also smashed both the $2k and $3k milestone before stabilizing. The thing about Bitcoin is even though it is still a non-regulated currency, national and global laws still can affect its value. With the rise of other cryptocurrencies of course, comes the rise of mining.
Now cryptocurrency mining basically lowers the difficult hash of payment transactions in the chain either through processing it through ASIC or Non-ASIC systems. Now ASIC mostly runs Bitcoin and sometimes even Litecoin. However all lighter currencies or even Cryptonote currencies runs on Non-ASIC.
Since ASIC is processor heavy, it relies on CPU cores. While non-asic needs multi threaded support so it runs mainly off of powerful GPUs. The reason mining is so important is because mining doesn’t just change the way the payments speed up in time, it also changes another industry.
Since mining is becoming mainstream, the computing industry will have to start building new types of GPUs or multi-core processors that are specifically designed towards mining. Asus is already doing this with the RX-470G as well as the P106-5G. Intel may also soon take note and might advance their XEON processor line.