Although the cryptocurrency market is crowded with the likes of Bitcoin, Ethereum, Pi, Litecoin, and even Akon’s AKoin, the meteoric rise in their values has inspired some new entrants. Chia is one of the latest cryptocurrencies in the market and its USP is that it is eco-friendly. However, if this cryptocurrency becomes popular in the market, it can potentially cause a global shortage of SSDs and hard drives. Here is why.
Now, Chia is an eco-friendly cryptocurrency created by Bram Cohen, the inventor of BitTorrent. He decided to enable users to leverage free space on their storage drives )SSDn or HDD) to mine Chia. As a result, the mining system requires a lot less power than usual GPU-backed cryptocurrency-mining rigs. However, if the said cryptocurrency blooms in the market, the SSD and HDD market could suffer the same fate as the GPU market.
According to reports, several major SSD and HDD manufacturers are planning to implement restrictions to prevent hoarders from buying storage drives in large quantities. Moreover, one of the major storage drive manufacturers in China Jiahe Jinwei aims to release a dedicated SSD for cryptocurrency mining in the market soon.
