The Monero-based coin has been appealing to the tech savvy as the blockchain is highly anonymous. As a result, it can target those with deep pockets.
In terms of mining, however, Myriad X will not be as competitive if compared with other blockchains such as Bitcoin. In fact, most mining operations around the world have turned to ASICs – Application Specific Integrated Circuit – that enable miners to hit higher hash rates and solve blocks faster than others on the network. Since there aren’t any ASICs for XMR by now and it uses memory-intensive cryptography scheme called CryptoNightV8, it won’t be easy to mine using CPU or GPU rigs though they are still widely used . That said, Graphics Processing Units (GPUs) still offer low cost of entry and efficiency when processing geometry jobs such as rendering 3D images such as video games, physics simulations and financial analytics.