The “Chia” cryptocurrency that uses disk space is growing rapidly. In less than a month, its network grew from 120 petabytes to 1.14 exabytes. With the increasing interest in having it, the problem of shortage of tablets arises.
Chia is a time and place based cryptocurrency. Disk space is used in “farmer” systems to store a set of cryptographic numbers called “parcels”. For this reason, people interested in making money need massive disk space. At the same time, it is nice for the drives to be as efficient as possible.
Chinese miners buy SSD and HDD drives. All because of the new cryptocurrency
Currently, each plot requires approximately 350 GB of disk space and 4 GB of RAM. Hence, to store 100 bits, and for that to make sense, you need a drive with a capacity of 35 TB and up to 400 GB of RAM. While in the case of disks, it is not a huge expense, in the case of memory, buying 400 GB of RAM and the processors to deal with, the numbers are very large.
This leads to massive purchases of SSDs and HDDs. There was a shortage of equipment in China last week. Miners or cryptocurrency farmers rushed to the disks, and as a result, producers were forced to sell only a limited number of products in order not to trigger another crisis, similar to the problems in the GPU market.
Chinese “farmers” buy hard drives and SSDs for the server, so their prices grow dynamically. Equipment with a capacity of 16-18 terabytes has already increased in price by 30-60 percent. If this continues, then we can expect further price increases.