Sentences with phrase «scrypt asics»

Also, it uses scrypt as its proof - of - work algorithm, which is targeted to make it impervious to ASIC mining, though a number of companies say they are planning to launch scrypt ASIC miners sometime soon.

Not exact matches

Scrypt is therefore said to be a more democratic means of mining than SHA - 256, as the «average joe» can start mining LTC by purchasing cost - effective memory cards (as opposed to cost - restrictive ASICs).

The main difference is that there is specialized hardware, ASICs, readily available for SHA 256 coins while Scrypt coins are still reliant on graphics card mining through desktop computers.

Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA - 256.

Scrypt (which is used by altcoins like litecoin), was designed to be more friendly to CPUs (and unfriendly to ASIC miners), so that a core elite of powerful ASIC users didn't get an unfair advantage.

These ASIC miners were traditionally only built for certain algorithms, such as Bitcoin's SHA - 256 or Litecoin's Scrypt.

Scrypt seems to be the more memory driven of the two — despite, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies effectively, as there no ASIC's to compete with as of yet.

The consequences of using scrypt mean that there has not been as much of an «arms race» in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm.

There are also ASIC's for scrypt which specifically solves the mathematical code in relation to altcoins such as Litecoin.

The other component of using the Scrypt algorithm is that ASIC and FPGA devices made for mining Litecoin tend to be more expensive to produce and more complicated to create than they are for Bitcoin, which uses SHA - 256.

Another reason why Scrypt was chosen is to avoid giving an advantage to FPGA, GPU, and ASIC miners over CPU miners.

Ethereum is still primarily a GPU - mined asset, so any strong crypto without ASIC mining hardware (Bitcoin, Litecoin / Scrypt, Dash) that relies on proof of work is arguably competing for finite Ethereum hashpower, but ETC represents a much more direct alternative that so far looks very attractive.

Due to the presence of Scrypt algorithm, the mining process of Litecoin using ASIC and FPGA is slightly more complicated in case of Litecoin.