Sentences with phrase «scrypt proof»
Bitcoin uses the SHA - 256 hashing algorithm, whereas Litecoin uses Scrypt Proof of Work.
https://coolwallet.io/ Not exact matches
Thirdly, unlike Bitcoin which uses the SHA - 256 hashing algorithm, Litecoin uses Scrypt algorithm as its proof - of - work consensus mechanism.
Tokcoin is a decentralized currency, developed in a smart contract platform (Intelligent Contracts) with an exclusive Tokchain system that allows you to send encrypted messages, enter contracts, and other documents to keep them 100 % secure, performing P2P transactions with total security (Services the Brazilian Proof - of - Stake (PoS), which pays Tokcoin negotiated, fully corporate Scrypt PoW / PoS Hibrid algorithms for the development of Investment Funds in Crypto - Coins and Assets In the OTC (Over The Counter), taking as Bitcoin Investment Trust, with the creation of Tokcoin Investments Assets Digital (OTCMKTS: TOKIN).
Initial coin supply: 10M (10,000,000) distributed via crowdfunding Algorithm: Scrypt — 100 % PoS v2 (Proof of Stake) + PoP (Proof of Play) PoS: 10 % fixed interest annually
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.
Mining is performed by proof - of - work using the scrypt hashing function.
Additionally, Anoncoin (ANC) uses scrypt in its proof of work algorithm and its network will produce 4.2 million ANC, which is much lesser than Bitcoin.
Litecoin uses Scrypt in its proof of work algorithm, and this algorithm utilizes much less processing power than the Bitcoin SHA256 hashing algorithm.
While Proof of Work SHA2 runs bitcoin, different altcoins use scrypt or other solutions to solve this problem.
This payment network uses «scrypt» as a proof of work that can only be decoded with the assistance of CPUs of consumer grade.
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.