The Chinese giant Innosilicon, one of Bitmain's main competitors in the production of special mining devices — ASIC, produces ASIC devices for most popular cryptographic algorithms. The other day, Innosilicon announced that they are working on their first ASIC miner for the GRIN cryptocurrency. According to the manufacturer, the new ASIC will go on sale at the beginning of summer.
Innosilicon is one of those participating in the race to increase transistor density in ASIC chips. It can be assumed that the new ASIC for GRIN will be based on a 10nm or even 7nm process technology.
GRIN is a cryptocurrency that solves some of the scalability and anonymity problems of Bitcoin. It is based on the innovative MimbleWimble protocol. Despite the fact that GRIN can be mined on a GPU, the developers clearly stated from the very beginning that the coin is intended to be mined using ASICs. GPU mining is only allowed at the beginning.
At the moment, only 10% of blocks are generated by Cuckatoo31+, an ASIC-friendly algorithm. Over the next two years, this percentage will gradually increase until it reaches 100%, turning GRIN into an ASIC-only mining coin.
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