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Grin ASIC develops test for Chinese company; plans to go public in October

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The release of GRIN’s dedicated digger ASIC is imminent. China’s mining machinery MKRMicroComputer has announced the success of research and development tests for Asic Miner G 1 PLUS and G 1 MINI. GRIN’s ASIC machines will be shipped for the first time in October.

Using this mining equipment, it is estimated that the hash power of the GRIN network will increase significantly by the end of October.
GRIN currently uses two types of mining algorithms: Cockatoo 29 plus and Cuckkatoo 31.

29 plus support graphics card (GPU), 31 plus support FOR ASIC. So far, the main method of GRIN mining is GPU. The 29-plus algorithm produces 90% of the blocks, and the 31-plus-3 produces 10% of the blocks. #

However, this ratio changes by 1 percent every eight days, and in January 2021, the block rate of C31 will be 100 percent. In addition, according to MicroComputer, the “Cockatoo 32 Plus” algorithm will gradually increase from 31 to 31 plus from January 2020.

By August 2020, the C31 plus algorithm will be turned to C32 plus. The C32-plus algorithm is then used indefinitely, so C32 plus processing power will determine the long-term profitability of the minor.

MicroComputer’s G1PLUS is compatible with the C31 and C32 algorithms. G1 PLUS’s C32 Plus algorithm has more than 30% of the processing power of the C31 plus, 10% higher than its competitors. For core chip technology, G1 PLUS Minor is manufactured by TSMC to ensure a stable supply of G1 PLUS.

Taking into account the future price and total power cost of GRIN, the price and quantity of G1 PLUS will be set.

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