Hong Kong Hardware Manufacturer Releases Mining GPU for New Privacy-Oriented Coin

Hong Kong-based laptop {hardware} producer Sapphire is releasing a GPU for mining a newly-released privacy-oriented coin.

Hong Kong-based laptop {hardware} producer Sapphire has introduced a brand new graphics card for mining the recently-launched GRIN Coin, in line with an official press launch revealed on Jan. 22.

The SAPPHIRE RX 570 16GB HDMI Blockchain Graphics Card is among the first of a “new household” that can help mining of the brand new GRIN Coin.

GRIN, which was launched earlier this month, is a privacy-oriented token that’s touted as a totally decentralized and democratized digital asset. The token is predicated on mimblewimble expertise, which in principle grants customers within the community with strong anonymity, by encrypting the worth of a transaction utilizing “blinding elements.”

The new graphics processing unit (GPU) from Sapphire will purportedly be capable of resolve the Cuckoo Cycle algorithm which kinds the premise of Grin’s proof-of-work (PoW). According to Sapphire, the RX 570 is “one of many few options that may effectively mine Cuckatoo 31+, in consequence there might be fewer customers on the community resulting in greater rewards for early miners.”

Sapphire’s Global Vice-President of Marketing Adrian Thompson stated, “Future merchandise will embrace new 16GB Graphics additions’ to SAPPHIRE’s line of INCA and MGI Series of devoted blockchain techniques.”

According to the press launch, the GPU isn’t at the moment obtainable on the market, however will ultimately be launched on the corporate’s web site.

Earlier this week, analysis revealed by the Bank for International Settlement (BIS) acknowledged that Bitcoin’s (BTC) issues are solely solvable by departing from a PoW system. According to the BIS when Bitcoin’s block rewards fall to zero sooner or later — as solely a restricted variety of new bitcoins might be created — solely transaction charges can maintain mining bills.

BIS’s argument implies that the Bitcoin community would change into so gradual that it might be unusable. The report states:

“Simple calculations counsel that after block rewards are zero, it may take months earlier than a Bitcoin cost is closing, until new applied sciences are deployed to hurry up cost finality.”

Original supply: https://cointelegraph.com/news/hong-kong-hardware-manufacturer-releases-mining-gpu-for-new-privacy-oriented-coin

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