Warsaw, Poland, Sept. 30, 2022 (GLOBE NEWSWIRE) — Over the past few years, there has been an ever-increasing demand for computing power. It was a time when the world was moving from conventional economic systems to a digitized and more revolutionized economy. Today, computing power is used for deep learning, video rendering, data analysis, fraud detection, artificial intelligence, language processing, and many other areas. Whereas previously computing power was reserved for people and organizations that owned physical assets (GPU, CPU, hard drive, etc.), computing infrastructures can now be cloud-based. In practice, more and more people and businesses are using cloud platforms that act as a shared resource, instead of physical hardware. This innovation in computing infrastructure not only ensures more performance, but also makes it easier to use a shared resource (for example, anyone can connect from anywhere in the world). On top of that, it converts computing power into borderless abstraction, more like an accessible, shared, and disseminated intangible asset.
When we look at the computer market, we find that high computing power is the need of the hour. Cloudia Exchange is a new project that connects people who have GPU resources with projects that need those resources. But before discussing the benefits of Cloudia Exchange, it is imperative to understand that, currently, many people have their own computing power, but they don’t know how to use it effectively. In particular, these are people who have been involved in cryptocurrency mining.
Why has cryptocurrency mining become more difficult recently?
Miners use GPUs which provide them with a high hash rate. As long as they’re making a profit, they’re willing to pay whatever it takes to get their hands on the latest in GPU technology. Now, let’s introduce a little economics into the discussion. While crypto mining has pushed the demand for computing power to an absurd level, a shortage of supply has also led to an imperfect market situation. During the global pandemic, the world was going through not only a health crisis, but also a major supply chain failure. This led to a shortage of microchips and manufacturers were unable to produce GPUs. Therefore, a gap between supply and demand has been created so far and has not been corrected. In addition, inflation around the world has reached its highest level in recent months. This also has a direct impact on the prices of electronics as well as all other commodities.
Considering all the issues mentioned above, crypto mining itself has become extremely difficult, especially for people who are new to the business. Mining farms spread over acres of land often accumulate graphics cards limiting or restricting small miners’ access to the latest technology. Similarly, high GPU prices are also unfavorable to new miners. Apart from this, the cost of electricity is also a major concern due to the new oil and gas crisis.
It should be noted that most cryptocurrency miners focus on mining Ethereum. But buying a GPU right now is the last thing you would do because of the changes that just happened to Ethereum. With the aim of reducing energy consumption and modernizing the Ethereum environment. Ethereum has moved from a proof-of-work model to a proof-of-stake model. This can make the use of GPUs redundant and completely disrupt the GPU market. This is why many miners looking to transition their rigs to work on AI and cloud computing projects.
Cloudia GPU Power Exchange
To get ahead of all of this, Cloudia Exchange offers a win-win situation for GPU owners and people/institutions that require high computing power. Cloudia plans to connect these two sides where they can take advantage of each other on the sole condition that the ownership of these GPUs or other compute resources remains unchanged. In other words, the platform would create a pool of resources where people can participate and earn profits while claiming ownership of that material.
Cloudia Exchange will be integrated with the blockchain. In other words, you will be able to log into the platform with your wallet and be able to use all the features instantly. At the same time, you will be able to pay for computing power directly with cryptocurrencies, with the lowest transaction fees and an instant process. As a result, Cloudia Exchange would integrate the owner of the resource and the people who need computing power and enable smooth payments between the two parties.
Additionally, there will be a possibility to use the staking platform. It will be a passive income solution for token holders.
In conclusion, Cloudia Exchange envisions a future where renting GPUs or cloud computing is done seamlessly and requires no hassle. The platform operates with minimal fees and wants to connect people who have hardware and people who need computing power.
More information about Cloudia Exchange at:
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