As our regular readers will know, ChiaCoin is a cryptocurrency that maintains all the keys, at a basic level, of other currencies of this type, such as Bitcoin or Ethereum, although it presents an important particularity, and that is to mine it graphics cards or specialized ASIC units are not usedyes, but all the work falls on storage units.
ChiaCoin mining does not occur by solving complex operations, but rather is completed by storing your blockchain, and your transactions. When people started talking about this cryptocurrency, the first thing we asked ourselves was what was going to be more important, if the performance (the speed of the storage units) or the capacity. This was an important distinction, since it would give more prominence to SSDs or hard drives, and now we have been able to confirm that the important thing is capacity.
There is no question, in fact Tom’s Hardware has already confirmed a significant price increase on some high-capacity hard drives from firms such as WD and Seagate. For example, 18TB WD Gold cost $ 877 a week ago and is now around $ 1,231. The Seagate Exos X18, also 18 TB, cost $ 646, and has risen to $ 1,077. The most affected models are those with very high capacities, a type of storage unit that, at the moment, has hardly any presence in the general consumer market.
Will ChiaCoin Affect Smaller Capacity SSDs and HDDs?
We can be sure that it will not do it in the short or medium term, but I dare not say that it will not do it in the long term, and the reason is very simple. Think, for a moment, about what has happened in the cryptocurrency mining sector with graphics cards, the miners went first for the most profitable models, and in the end, when they were left with no other option after exhausting the stock, they ended up getting even the least profitable graphics cards.
Well, when storage units of 16 TB or more start to run out, miners could end up targeting lower capacity storage units, until they reach a level where the most demanded models in the market of general consumption end up suffering the impact of the ChiaCoin mining. It is still early to anticipate anything, but I would dare to tell you that if you were planning to buy storage units, you shouldn’t rest on your laurels.
Before finishing I think it is necessary to make a paragraph. I understand that the crisis in the general consumer graphics card sector can divert attention a lot, but we must be aware that ChiaCoin could end up producing a very marked shortage of storage units in general. These components are essential for the proper functioning of any PC and laptop, so it goes without saying that the impact of a crisis of this type in the international technology sector could lead to an extremely complicated situation.