Profiting With Cryptocurrency Mining: Project SUQA
Ever since the term blockchain gained traction since it was first introduced back in 2008, cryptocurrency mining has been seen as an increasingly lucrative sector for many traders and investors. Mining, which is the process through which miners get rewarded with new virtual coins for their mining effort, is mostly supported by blockchain networks possessing the PoW or Proof of Work consensus mechanism. While mining is still profitable, the difficulty of mining new cryptocurrencies has increased many folds.
The need for Integrating AI into Cryptocurrency Mining
Today, the vast majority of miners use either GPUs or advanced mining rigs called ASICs. Most of them do not utilize the full resource potential of their respective devices, with a huge volume of resource wastage being recorded. Many upcoming blockchain projects that aim to utilize AI, such as Spectre.ai and Effect.ai to name a few, aim to provide smart solutions to users so that they can utilize all of the computing power which would otherwise be wasted.
About SUQA Blockchain
While SUQA blockchain project approaches different way to issues. It aims to provide a larger profit to miners, with cheaper costs for developers.
The SUQA blockchain project comes with a new exciting mining algorithm. The algorithm in question is its own proof of work mining algorithm, called the X22i, which also requires a new miner. The SUQA token use proof of work protocols so that they can be mined with normal GPU. Among the miners currently compatible with SUQA include the Nvidia CUDA miner available as well as the AMD OpenCL.
The SUQA blockchain model allows a block reward to go down pretty fast initially, enticing miners to join in early for a higher block reward. There is also a time-locked deposit scheme, with 5% regular APR.
Besides the new mining technology, the SUQA blockchain project revolves around developing a sort of Blockchain ecosystem, one which works towards leveraging the technology to provide any service, product or any utility of any kind. The SUQA blockchain focuses mainly on blockchain based startups, cryptolancers and even charity, making SUQA very multi-faceted and integral to many organizations.
In the search for new mining technologies for use in cryptocurrencies, the SUQA developers have come up with an innovative new mining algorithm which is not dominated by either ASICs or FPGAs (the two dominant miner types). It’s a new PoW mining algorithm titled X22i also uses its own miner which has already been released.
The Role of X22i
The main aim behind the development of SUQA’s custom X22i mining algorithm is to offer a considerable degree of resistance against ASIC and FPGA mining. This is achieved by implementing multiple modifications and adding additional features to a previously outdated PoW algorithm called X11. To achieve this resistance, SUQA raises the memory requirements by a factor of four, which makes it resistant to AIC and FPGA mining while not affecting normal GPU/CPU mining.
Another aspect of this new PoW algorithm is the length of the algorithmic chain which is much longer than any existing variants. It uses a total of 22 algorithms to create the need for a much larger chip space. This renders both FPGA and ASIC mining an unprofitable and decreases the incentive dramatically. X22i is also quantum computer resistant, by implementing the SWIFTX protocol.
Final Thought On How SUQA Benefits End Users
There are several benefits to crypto mining when it comes to using the SUQA blockchain. For instance, SUQA token can be mined easily with GPU and CPUs which make them appeal to a larger number of potential miners. GPU mining is also available from various open source GPU miners.
The SUQA blockchain also aims to provide increased efficiency while reducing the heat profile of the process at the same time. SUQA mining does not require maximum power consumption or heat output to be ASIC or FPGA resistance. This is especially critical for larger miners or mining pools, who can easily scale with less ventilation or cooling requirements.
Thus, to summarize what SUQA blockchain brings to the table, they can be divided into the following 5 benefits, namely:
1. High level of resistance against FPGA/ASIC or Quantum with their efficient PoW protocol.
2. Includes multifunctional wallets with features such as time locked deliverable asset and one-click mining.
3. The development of an inclusive ecosystem to attract both blockchain veterans as well as novices.
4. The project has already integrated with several industries disruptive technologies in sectors such as automation, privacy, and various escrow services.
In conclusion, the world of AI and blockchain integration is still at a fledgling stage, with various projects around the world looking to disrupt a lot of global industries. With projects like SUQA gaining traction and awareness, it comes as no surprise that the token is already listed on well-known decentralized exchanges such as STEX, EscoDex, CryptoBridge, and TradeOgre.