Bitcoin cash mining algorithm

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You can also choose an exchange, such as Binance or OKEx. Note: You should always do your own due diligence when choosing a wallet provider or exchange. Please note: Until the network hashrate stabilizes, we recommend pausing payouts in your Payout Settings. Since replay attack prevention has not yet been provided by the dev team, there may be issues with transferring tokens. Many exchanges and wallets are likely to pause deposits and withdrawls of BCHN during the hard fork.

Pausing payouts on your mining account can help you avoid any loss of funds, and rewards will continue to accrue to your pool account. Start mining! Your machines are now ready to mine! As the Litecoin mining algorithm is scrypt rather than the SHA algorithm, those mining devices which comprise ASIC application-specific integrated circuits can be tough to put together.

Sometimes, they may be even more expensive than Bitcoin-centric mining hardware. The scrypt algorithm is a password-based key derivation function, which was originally designed by a man named Colin Percival. The initial intention for this was to serve as an online backup service known as Tarsnap. Those behind the scrypt algorithm had a clear goal: to make it more expensive to run high-level hardware attacks due to the far bigger strain on memory resources.