Sentences with phrase «scrypt mining»

With Litecoin activating SegWit in a hail of fanfare, we thought it was a good time to review the most up - to - date Scrypt mining gear.

The problem that Namecoin had to face is also a key reason why Litecoin's creator, Charlie Lee, decided to implement the Scrypt mining algorithm in Litecoin, another early altcoin.

HashFlare: Lifetime Bitcoin, Litecoin and Scrypt Mining Contracts The Estonian company caters to a

But for SHA — 256 and scrypt mining, the users have to undergo a life time contract.

Not exact matches

Examples of different mining algorithms are: Scrypt, X11, X13, Lira2RE, Keccak, Quark, Groestl, ets.

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

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.

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

Litecoin's original design was intended to prevent GPU mining and did so by using the memory intensive Scrypt hashing algorithm as opposed to the SHA - 256 algorithm used by Bitcoin.

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.

It uses the SHA - 256 algorithm for the «mining» process that creates new tokens, unlike Litecoin that uses Scrypt.

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.

The biggest change was moving to the scrypt hashing algorithm so that it can be GPU mined.

Scrypt is a type of mining algorithm used by major cryptocurrencies such as Litecoin and Novacoin.

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.

Litecoin is mined using a different algorithm, called scrypt (pronounced «script») which is much more RAM intensive.

Mining is performed by proof - of - work using the scrypt hashing function.

Spots (SPT) uses the scrypt algorithm when mining.

Litecoin uses an algorithm called Scrypt which determines the mining process for new coins.

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.

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

The Scrypt algorithm is very memory - consuming and makes it difficult to operate concentrated mining pools.

Litecoin also features a larger amount of token and a new mining algorithm (Scrypt).

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

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.