Sapphire, the Hong Kong-based graphics card producer, released a statement on Tuesday in which it said its new RX 570 16GB HDMI Blockchain Graphics Card would be “the first of a new family” of products capable of mining Grin and other cryptocurrencies.
New Sapphire And Grin Coin Products Coming Soon
Though the product has not yet launched, the company noted that it would soon be taking new orders.
Adrian Thompson, global VP of marketing for Sapphire, said the company was “thrilled” to announce the new product line.
According to the company, the new miner is “one of the few solutions” for mining the Cuckatoo 31+ proof-of-work algorithm on which the GRIN network is built. Because so few machines are compatible with this algorithm, the company has suggested that its new miner could potentially generate “higher rewards for early miners.”
“The launch of the RX 570 16GB HDMI Card presents an exciting opportunity not just for SAPPHIRE but for early Grin Coin miners and the cryptocurrency market as a whole,” Thompson added. “Future products will include new 16GB Graphics additions’ to SAPPHIRE’s line of INCA and MGI Series of dedicated blockchain systems.”
Grin Coin’s Mimblewimble Protocol
Grin, which has been in development since 2016, is a community-driven cryptocurrency that aims to provide solutions to the privacy and scalability issues seen in other cryptocurrency projects. Grin is an implementation of the mimblewimble protocol, which uses blinding factors to obfuscate the details of transactions to achieve anonymity. The protocol also trims the blockchain of unnecessary transaction data, thus enabling improved scalability as more transactions can fit onto each block.
The GRIN mainnet was launched on January 15th. It was developed openly and has been distributed globally without centralized governance. It is the second cryptocurrency to be launched using the mimblewimble protocol. BEAM, another mimblewimble privacy coin, was also launched this month.