WTF is Cuckoo Cycle PoW algorithm that attract projects like Cortex and Grin?

Application-specific integrated circuit chips, known as ASIC, has taken over the mining market since. ASIC are chips that are designed with a singular purpose. For cryptocurrency mining, these chips are built into specifically designed motherboards and power supplies to efficiently solve a specific algorithm. Each cryptocurrency has its own cryptographic hash algorithm and ASIC hardware are designed to excel at calculating that algorithm, in the case of Bitcoin, ASIC hardware is designed to calculate the SHA-256 hash algorithm.

However, in 2018, the bearish performance in the cryptocurrency market has put them in a difficult situation. Though with better performance comparing the general-purpose computer using GPU or CPU cards, there is a limited room of adjustment for the ASIC hardware. ASIC miners were seeking ways to deal with their machines and spaces they rent for running the mining machines. In contrast, GPU miners can easily adapt to new PoW algorithms and tokens due to better compatibility with different hash algorithms (in the cost of performance). Furthermore, the emerging of Cuckoo Cycle algorithm sheds light on the GPU mining to compete against the ASIC miners.

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