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“Ethereum is going to be quite valuable”


In case you weren’t sure what to expect when it comes to the upcoming transition to Ethereum’s proof-of-stake for Nvidia CEO Jensen Huang, there’s no need to question it any more. Huang is clearly optimistic about the future of Ethereum. At an online-only Computex event, he asked a range of questions, anywhere from his thoughts on the metaverse to the global semiconductor shortage.

Huang: A ‘Proper Bull’ Perspective

Jensen Huang’s comments about Ethereum in particular showed a lot of optimism. When asked about the supply and demand constraints surrounding crypto and Nvidia products, Huang was clearly upbeat; “The reason why Ethereum chose our GPU is because it has the largest network of distributed supercomputers in the world. It is programmable. When bitcoin first appeared, it used our GPU”, he said. “Am I excited about Proof of Stake? The answer is yes”, said Huang. “As we move toward that transition, it is now established that Ethereum is going to be quite valuable.” They discussed a new Nvidia product, CMP, that could address the crypto mining consumer and simplify GeForce supply to deliver more GeForce products to gaming consumers.

However, it was still hopeful optimism for Huang here. When asked later in the session about limiting hash rates in the future, Huang shared more perspective on his thoughts on crypto. “I believe cryptocurrency is here to stay. It is a legitimate way that people want to exchange value”, he said. “More important, Ethereum and other forms of it like it in the future will allow transactions. There are excellent distributed blockchain ways to be secure.” Huang added, “Cryptocurrency is here to stay. Ethereum might not be as hot as it is now. In a year it can be somewhat cold. But I think crypto mining is here to stay.”

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

More than questions…

The Nvidia CEO also made some other interesting comments. When asked about the virtual world, he said he thinks there will come a time when there will be “a bigger market, a bigger industry, more designers and makers, designing digital things in virtual reality” than designers in the physical world. Will happen.

He also used the press opportunity to showcase Nvidia’s latest facility, Voyager, which is set to host the company’s more than 3,000 employees, which Huang described as “a city inside a building”. described.

Huang also shared his enthusiasm for the success of the RTX 30 series, the firm’s growing enterprise business, and the future of AI. What’s next for Nvidia’s rapid growth? Huang & Co. clearly has many ideas, and crypto mining clearly remains at the fore.

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



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