The manufacturer of graphics processing units (GPUs), Advanced Micro Devices (AMD), launched its new software driver called Radeon Software Crimson ReLive Edition Beta for Blockchain Compute in mid-August 2017.

The software is primarily designed to improve the performance of GPUs used in cryptonon mining.

The release of the software was made amid growing demand for GPUs for digital currency mining.

The demand is mainly due to the continued rise in prices of virtual currencies such as Bitcoin and Ethereum in the market.

Brief history of the criptomonedas mining

Digital currency mining is an energy-intensive method of processing, recording and securing a virtual currency transaction, as well as a process of creating new cryptomoneda tokens using a computer.

During the process, a transaction is added to the public ledger named Blockchain. Meanwhile, the miners are rewarded with new chips for their work.

Due to its intensive power requirements, digital coin mining requires powerful computers to increase production. This has benefited GPU manufacturers such as AMD and its main rival Nvidia.

Latest developments in the GPU market

Meanwhile, AMD's rival Nvidia is also exploiting the current cryptomonet mining boom, as shown in its financial results in the second quarter of 2017.

The company's GPU division has recorded $ 1.9 billion in earnings during the quarter, a 59 percent increase in its numbers in the second quarter of 2016.

According to Jen-Hsun Huang, CEO of Nvidia, they are very optimistic about the future of digital coins as well as Blockchain technology.

Huang says:

"The Crypton Coins and Blockchain are here to stay in. It will become quite large over time, it's clear that the new currencies will hit the market, it's clear that the GPU is fantastic in the Cryptomoneda.

However, AMD has taken a bearish position on the prospects of the criptomonedas mining market.

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