Gamers have been presented with an opportunity to earn cryptocurrencies through their GPUs based on the newfound partnership between Taiwan-based leading tech company AsusTek Computer Inc and startup cloud-based mining solution platform Quantumcloud.
The partnership announcement yesterday disclosed how the Taiwan tech manufacturer will leverage on its market distribution of its branded graphics card to promote cryptocurrency mining on the cloud mining app developed by the Quantumcloud project.
Gamers will be able to co-earn through the mining process carried out by the platform using their idle GPU power. The cryptocurrencies earned can be cashed out through payment gateways such as PayPal or WeChat.
The earnings will be based on the percentage of GPU processing power allocated by the user, which is often the unused GPU resource – that is, portions of the graphics card not engaged in any other processing.
One essential takeaway is that the privacy of users including their financial data on the app will be protected under the General Data Protection Regulation (GDPR), making it GDPR compliant. As per the announcement:
“As part of its pledge to protect user data, Quantumcloud launched with GDPR compliance in place and does not require customers to create a unique login. Instead, customers use their existing PayPal or WeChat account to log in and collect their earnings.”
On the other side of the partnership, Quantumcloud has made it known that it does not guarantee that users of its software will earn profits and that earnings will be based on the performance of the cryptocurrency market. More so, the earnings are relative to the amount of processing power allocated.
Unlike Bitcoin mining where sophisticated processors called ASICs are required due to computational difficulty, the most commonly threaded path is to use GPUs to mine cryptocurrencies.
Miners have had to either mine alone or join a pool of miners to earn reasonably. However, the downtrend in the cryptocurrency market has made it extremely difficult for miners to cope. This grim picture is accentuated by the growing numbers of mining firms shutting down due to high operational costs and miners going the length of selling their mining rigs at second-hand values.
To top it all, hardware provider Nvidia reported in its Q3 financial data that there has been a “substantial decline” in patronage for GPU chips.
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