Sentences with phrase «scrypt based»

Also note that the following guide and mining software is compatible with other Scrypt based cryptocurrencies such as Feathercoin, Dogecoin and Worldcoin.

Like Bitcoin it uses encryption to process transactions but instead of the SHA - 256 algorithm it uses a scrypt based algorithm.

Not exact matches

However, rather than using the traditional SHA — 256, this coin leverages a traditional mining system that is based on the scrypt algorithm — the same one that is used by litecoins.

The BTC is based on the SHA — 256 algorithm while the dogecoins are based on the Scrypt algorithm.

First - time miners who lack particularly powerful hardware should look at altcoins over bitcoin - especially currencies based on the scrypt algorithm rather than SHA256.

Scan is offers custom frames for GPU miners, so it only makes sense that it would consider scrypt - based altcoins for payments.

However, Bitcoin is based on the SHA - 256 algorithm, while Litecoin uses the Scrypt algorithm, which runs considerably faster, with a target of 2.5 minutes for each new Litecoin block (Bitcoin takes 10 minutes for each new block).

Litecoin (LTC), the open - source blockchain based cryptocurrency was launched in the cryptocurrency market in 2011 by its founder Charlie Lee and the rest of the development team.It uses the Scrypt algorithm.

A new generation of GPU mining was spawned by scrypt - based mining, and that new generation still exists today.

Based on the LuckyCoin protocol, a fork of Litecoin, Dogecoin uses the Scrypt encryption algorithm.

So far in 2017, cryptocurrency miners have taken over the market for consumer graphics processing units (GPUs), using the devices to solve the cryptographic puzzles required by ethereum (and other «scrypt» - based cryptocurrency protocols) and claim their lucrative rewards.

Ever since Litecoin's creation, we have seen many Scrypt - based alternate currencies emerge, yet Litecoin will always remain the very first to do so, cementing its legacy.