I do not think ACM article is very relevant here, because what is speaks about is, essentially, the fact that what we traditionally thought of &quot;disks&quot; is now getting as fast as RAM, because persistence is achieved via new technologies.<p><i>A machine with a measly 256GB of memory can do around half a million Argon2 hashes simultaneously </i><p>Not necessarily. There is always the limitation of memory bandwidth.  Although, I do not see saturating that bandwidth as a design goal of Argon2.