Scrypt cloud mining

The most popular cryptocurrencies on Scrypt

  • Litecoin
  • BitConnect
  • MonaCoin
  • Dogecoin

Many people are interested in the subject of the basics of electronic currencies, but not every user is familiar with cryptography. In order to understand the essence of the process that takes place in the Bitcoin Protocol, it is necessary to know the wilds of the terms of cryptography, incomprehensible acronyms, and other things. From this material, you will learn about the most important side of mining algorithms, as well as about the function called Scrypt. What is a Scrypt?
Es-crypts (one of the forms scrypt) adaptive method key generation from the password in cryptography. The founder of the system Colin Percival, security officer Free BSD. Initially, the method was designed to preserve copies of Tarsnap. The algorithm is designed so as to complicate the process of attack by the FPGA.

To calculate the attackers will need a huge amount of memory and random access. At the end of 2012, Scrypt was published under the guise of Internet Draft. It was planned to make in the RFU. As proof of used completed work in e-currency Litecoin.

The principle of the algorithm Scrypt

The key generation functions, which are based on a password, are often designed to take into account the time it takes to calculate (we are talking about a few hundred milliseconds). If the user is legal, this function is calculated only once (during authentication) and it is valid.

However, in the case of an emerging invasion by the method of rapid search, the attacker will have to make several billion calculations, which significantly slows down the process and increases its cost. Thus, we achieve greater security for mining parties.

Features of work Scrypt and SHA-256

Earlier functions of PBCDF are calculated relatively easily, and the search is effectively and quickly applied in relation to special equipment. This form of implementation makes it possible to launch large parallel brute-force attacks, for example, using more than a hundred function elements for each chip.

In summing up, we can say the following: both protocols operate with the same purpose by using brute force to get a “good hash” which will allow users (or rather a pool) to extend the blockchain and be rewarded for it.

They only approach the same problem from different angles. SHA-256 assigns the technical component of the hardware. The result depends on the performance height of the devices. Scrypt uses at work a larger amount of memory. This shows that performance is related to RAM memory and computer graphics cards.