Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain that helps developers to build and publish distributed applications. The Ethereum Virtual Machine (EVM) makes this possible.
FPGA is an acronym for field-programmable gate array. It is a type of integrated circuit (IC) that can be programmed by the customer or designer after manufacturing – hence the “field-programmable” name.
They are used in a variety of applications from computer logic chips to high-speed communication circuits.
The main advantage of FPGAs over other ICs is that they can be easily reconfigured to meet changing requirements. This makes them ideal for prototyping new designs and for making small changes to existing ones.
FPGAs can also be used to create custom hardware accelerators for specific tasks, such as machine learning or cryptography.
Nowadays, FPGAs are increasingly being used in the cryptocurrency mining industry. Their flexibility means that they can be adapted to different mining algorithms, making them more efficient than ASICs (application-specific integrated circuits), which are designed for a single purpose and cannot be easily changed.
There are currently several companies offering FPGA-based mining devices, including Bitmain, Canaan Creative, and Halong Mining. Bitmain’s Antminer F3 is the most popular model, although it is only available for pre-order at the moment and has not yet been released.
So, is it possible to mine Ethereum with an FPGA? The answer is yes, but it is not currently profitable to do so. The main reason for this is that Ethereum’s mining algorithm, Ethash, is designed to be ASIC-resistant, which means that it cannot be efficiently mined with specialised hardware.
This means that any advantage that FPGAs have over GPUs (graphics processing units) in terms of energy efficiency is negated.
However, this could change in the future if Ethereum switches to a different mining algorithm that is more suited to FPGA hardware. For now though, if you want to mine Ethereum, you’re better off using a GPU.