“Ethereum is going to be very valuable”

If you were unsure of Nvidia CEO Jensen Huang’s stance when it comes to Ethereum’s upcoming switch to proof of stake, you don’t need to question it further. Huang is clearly bullish on the future of Ethereum. At an online-only Computex event, he answered a variety of questions ranging from his thoughts on the metaverse to the global semiconductor shortage.

Huang: a ‘reasonable bull’ perspective

Jensen Huang’s comments on Ethereum in particular showed great optimism. When asked extensively about cryptocurrencies and the supply and demand constraints around Nvidia’s products, Huang was clearly enthusiastic; “The reason Ethereum chose our GPUs is because it is the largest network of distributed supercomputers in the world. It is programmable. When Bitcoin first came out, it used our GPU, ”he said. “Am I excited about the proof of stake? The answer is yes, ”Huang added. “As we move into that transition, it is now established that Ethereum will be quite valuable.” He went on to discuss a new Nvidia product, CMP, which can target the cryptocurrency mining consumer and make it easier to supply GeForce to bring more GeForce products to gaming consumers.

However, there was still mild optimism for Huang here. When asked later in the session about limiting hash rates going forward, Huang shared more perspective on his thoughts on cryptocurrencies. “I think cryptocurrency is here to stay. It’s a legitimate way that people want to exchange value, ”he said. “More importantly, Ethereum and other similar forms in the future are excellent distributed blockchain methods for securing transactions.” Huang added, “Cryptocurrency will be here to stay. Ethereum might not be as hot as it is now. In a year it may cool down a bit. But I think cryptocurrency mining is here to stay. “

Related reading | TA: Ethereum revisists $ 2,400, this is what could trigger more downsides

More from the field of questions …

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

He also took the press opportunity to showcase Nvidia’s newest facility, ‘Voyager,’ which will house more than 3,000 of the company’s employees, which Huang described as “a city within a building.”

Huang also shared his excitement about the success of the RTX 30 series, the company’s growing entrepreneurial business, and the future of AI. What’s next for Nvidia’s accelerated growth? Huang and the company clearly have a number of ideas, and cryptocurrency mining clearly lives at the forefront.

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

Featured image from Pixabay, Charts from TradingView.com

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