Sentences with phrase «on scrypt»

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

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

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.

Litecoin's design and reliance on a scrypt encryption algorithm means that the specialized hardware developed for Bitcoin is not applicable to Litecoin.

Not exact matches

The scrypt algorithm is more reliant on memory making CPU mining more effective and was part of the initial appeal of Litecoin.

Asp's core is built on PoW Scrypt and is designed to only process transactions onto the blockchain.

Scrypt relies on substantial amounts of memory, so is considered a «memory hard problem» — differing from SHA - 256, which is raw processing power intensive.

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.

On the other hand, the Scrypt algorithm will consume both the computer power and the memory.

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).

This is currently the hashing algorithm that is being used on the Bitcoin network and is different from the Scrypt algorithm on Litecoin.

It uses a Scrypt hashing algorithm and plans on issuing 100 billion coins.

BitVault ® uses the encryption algorithm Scrypt on the Blockchain where each application uses an internal Blockchain that is independent to prevent compromise.

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

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.