The algorithm was first used in the extraction of cryptocurrency Darkcoin. It allows you to hash on eleven rounds, so it is one of the most reliable to date.
Overview and features
With X11, you can solve many problems that some other cryptographic algorithms can’t afford.
According to experts, some algorithms are subject to the threat of hacking, which can jeopardize the system of some cryptocurrencies, such as bitcoin. To crack X11, you will need to find vulnerabilities on all eleven hashes, which greatly complicates the task. In the event that one or more hashes still can not stand and will be hacked – it will be a signal for developers who will analyze the situation and promptly make changes, enhance security. As a rule, the optimal solution is to replace the problem area.
According to the developers, despite the leading positions of bitcoin and litecoin in the cryptocurrency market, they do not cause full confidence on the part of investors. They have not been able to convince investors that there is no danger of hacking, which can cause the destruction of the entire system, followed by the depreciation of these cryptocurrencies.
The chain algorithm is much more reliable when compared to the one-hash. The developers are confident that such an enhanced security system will soon attract investors who do not risk investing in bitcoin or litecoin.
Many believe that ASIC is a problem area in the world of cryptocurrencies since the basis of the whole system is eliminated-decentralization. ASIC significantly complicates the mining process, it becomes difficult to access. It is the prerogative only of those who can do it only if they invest a lot of money. Cryptocurrency loses its function of exchange and becomes the object of speculative actions. But the main thing is not even that, but the fact that people have become hostages to the ASIC.
Mining with ASIC complicated process of bitcoin mining. X11 has the reliable protection from ASIC. To create special devices for mining do not allow the same 11 hashes. The developers did not plan to fully protect themselves from icicles. Therefore, it is possible that the problem that ASIC will appear here immediately as soon as Darkcoin mining will bring more profit. But for their appearance, it is necessary to overcome serious difficulties and restrictions.
Those who use X11 noticed that in the process of mining video cards are heated much less, and the fans are not so intensively cooled. This is because the consumption of electricity was reduced to 50%. It is also important that overheating of graphics cards can cause the farm to stop working.