What Impact Will Samsung’s New Blockchain SSD Patent Have On The Crypto Mining Industry?

Samsung recently filed for a patent called Programmable Blockchain Solid State Drive and Switch. While not a lot of details about this new project are currently known, many people in the industry have already been pointing out how useful this new technology can be.

So, how will this new technology work? It can be used to mine crypto's better than some ASIC miners, which are specialized mining devices created by crypto mining manufacturers. Their only purpose is to be used for mining so, if someone else creates a better technology, they will be obsolete.

Despite the obvious effects that the patent can cause, no one is actually sure that the final product will be ever developed. Sam Town, a crypto analyst, told Coindesk, who reported on this story, that parents can be a defensive weapon to stop other companies from creating a similar product.

They do not necessarily need to be created in order to defend your idea. It’s not that you want to use it, you just want other people not to be able to do it.

It is no surprise that Samsung is entering the crypto mining industry, as the company develops some of the chips which are used in ASIC miners. In fact, some people may even say that it took too long.

If a company with the size and power of Samsung enters the market, other companies will certainly have problems, especially if they are not so big and are very focused on mining only. Even big ones such as Canaan and Bitmain may be affected. It is important, however, to wait and see what will happen. It is impossible to measure the effect of some technology before it is on the market.

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Ali Qamar
Ali Qamar
Ali Qamar is a seasoned crypto and blockchain writer and a strong believer in cryptocurrencies with real-life use cases. Ali loves to cover any topic related to TRON and has a keen interest in other cryptocurrency verticals such as Ripple, Stellar, Bitcoin and more.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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