CRYPTOCURRENCY MINING EQUIPMENT MARKET ANALYSIS
On the basis of the equipment, ASICs contributed highest market value share in 2016, and is expected to continue its dominance over the forecast period. Prominent factor influencing the growth of this segment include high hashing power, customizability for specific altcoin operations, unlike GPUs which are used for general purposes that find applications in various other industry domains such as gaming, graphic development, and astronomy. Moreover, these ASICs consume much lesser power as compared to GPU and hence, the hardware efficiency of ASICs is superior to that of any other mining system available in the market. However, utilization of ASICs are limited to specific digital currencies and it cannot be used for mining other currencies such as Ehtereum and Ethereum Classic.
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