Sentences with phrase «scrypt miners»

An officially registered company, HashCoins offers two main types of cryptocurrency miners: SHA - 256 miners and Scrypt miners.

With the powerful L3 Scrypt miner, Bitmain have expanded into Litecoin mining.

Not exact matches

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

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.

Luckily for us at the BlackCoin Pool, there are many other different algorithms for miners to sink their teeth into if Scrypt is not their particular cup of tea.

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

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

From a technical perspective, DigiByte has a highly advanced system in which miners can use any of five different mining algorithms including the popular SHA - 256 and Scrypt, which are the algorithms used by Bitcoin and Litecoin respectively among others.

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.

The use of Scrypt was an interesting choice, because the purpose of using Scrypt was to allow miners to mine both Litecoin and Bitcoin at the same time.

Scrypt is a sequential memory - hard function requiring asymptotically more memory than an algorithm that isn't memory - hard, which means that you need more memory in your miners compared to blockchains that don't use Scrypt.

Scrypt also allows for a higher degree of parallel processing and is generally more accessible for new miners than a more traditional algorithm.

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

Litecoin's scrypt hashing algorithm is another huge advantage for newcomers to the cryptocurrency market as it makes it easier for miners to access the system.

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.