Sapphire Technology is a creator of graphics cards, based in Hong Kong. In a press release from the official website, the company announced the launch of the SAPPHIRE RX 570 16GB HDMI Blockchain Graphics Card. This graphics card is just one of the first items from their new product line, making it possible to mine GRIN coins and other crypto tokens.
By adding the new graphics card, miners are able to work with the Cuckatoo 31+ proof-of-work algorithm that anchors the entire network. Considering the limited availability for mining on this algorithm, Sapphire Technology says that “there will be fewer users on the network leading to higher rewards for early miners.” Essentially, to get the best rewards with the graphics card, miners will need to get it as soon as possible.
The blockchain graphics card is expected to be “affordable” and should be used by miners that prefer to self-install their cards. The press release notes the considerable advantage over similar cards, saying,
“The 16GB RX 570 is superbly positioned for early Grin coin miners , providing you move fast and take advantage of Sapphire’s hardware.”
Again, the company’s press release highlights the importance of moving quickly on the purchase of the graphics card in order to gain all of the rewards and benefits that could be obtained. While securing the latest technology is a straightforward way to get the most benefits out, the phrasing does cause some worry for profits once a high number of miners start using it.
The GRIN coin has been an ongoing project since 2016 as a “community-based cryptocurrency,” and is meant to help with the problems that come with other crypto assets in the industry. Specifically, Sapphire Technology discusses the lack of privacy and scalability for other coins, adding,
“Designed to be truly decentralized and full democratized, GRIN coin has been developed openly by developers’ and distributed all over the world without being controlled by any company, foundation or individual.”
The coin finally went live last week, eliciting interest from both investment firms and cypherpunks.
The global VP of marketing for Sapphire Technology, Adrian Thompson, is enthusiastic over the new launch, saying that it “presents an exciting opportunity not just for SAPPHIRE but for early Grin Coin miners and the cryptocurrency market as a whole.” Continuing, Thompson said,
“Future products will include new 16GB Graphics additions’ to Sapphire’s line of INCA and MGI Series of dedicated blockchain systems. We’re thrilled to be bringing this and future blockchain products to market.”
Miners will be able to purchase the graphics card from https://gpuminer.sapphiretech.com, once it becomes available.