For those who want to mine and have cryptocurrencies, mining of home graphics cards is not a profitable move. Whether it is passive mining of ASUS or Coinmine's simple mining method, GPU has many promises for mining, but it has not yet made home mining a truly viable option. This is where Sapphire Technology hopes to announce the new blockchain GPU and my cryptocurrency. Sapphire highlights the ability of GPUs to mine Grin, along with Beam, which is one of the two major implementations of the Mimblewimble privacy protocol.
Grin has launched two proof-of-work algorithms - Cuckaroo29 and Cuckatoo32+ - that users can choose based on available GPU memory. Adrian Thompson, vice president of global marketing at SAPPHIRE Technology, published an article on Medium saying that the company's new GPU will be able to "double-mining" from two algorithms.
Thompson explained that Cuckaroo is ASIC-resistant and uses a fork every six months to "prevent ASIC rule." On the other hand, Cuckatoo is an asic-friendly algorithm that doesn't fork. In contrast, Cuckatoo's mining compensation will be reduced by 3.75% per month until there is almost no return after two years.
The most important thing for the GPU miner of sapphire technology is that both Grin algorithms are memory bound. This means that Cuckaroo and Cuckatoo need more memory to mine from each algorithm, and Bitcoin's proof of work algorithm requires a lot of processing power to mine tokens.
Thompson said that due to the limitations of standard GPU memory size, 90% of GPU miners will only be able to use Cuckaroo's ASIC-resistant algorithm. The 16g (GB) memory size of the sapphire GPU allows users to tear the battle between Cuckaroo and Cuckatoo, which is a first mover advantage for the less crowded Cuckatoo algorithm, while rewarding the Cuckaroo algorithm. It still maintains a certain amount of space before it falls to zero.
Overall, Thompson believes that with GPU memory and $399 (Thompson says this is one-third the price of a competitor's 16GB GPU), sapphire technology produces a "real-name printing machine, as long as you act fast."
Calling this product a printing machine may be a bit misleading in the field of encryption, because there is a history of fraud in this area, not to mention the current excavation at home. At the very least, the sapphire technology project adds a new dimension to the once novel home mining practices. Whether this is enough to be equal to the profit remains to be seen.