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Critics say these devices could ruin Ethereum and weaken faith in cryptocurrency altogether

Antonio Villas-Boas   

Critics say these devices could ruin Ethereum and weaken faith in cryptocurrency altogether
Tech1 min read

Ethereum ether cryptocurrency

Jack Taylor/Getty Images

So far, the device of choice to mine the ethereum cryptocurrency has been the traditional computer graphics card.

That could soon change when specialized devices commonly known as "ASICs" are introduced later this year, which are much more efficient at mining cryptocurrencies than graphics cards.

Developers behind the ethereum cryptocurrency are worried about the introduction of ASIC devices, according to a story on Bloomberg. ASICs "could have a negative impact on the Ethereum community and therefore on Ethereum price," said Sam Doctor, a managing director at Fundstrat Global Advisors who spoke with Bloomberg.

Check out what ASICs are, and why ethereum developers are concerned:

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