CryptoNight Algorithm The CryptoNight algorithm is a hashing algorithm used in several cryptocurrencies, including Monero (XMR) and Bytecoin (BCN). It is designed to be memory-bound and resistant to specialized mining hardware like ASICs, aiming to promote a more decentralized mining landscape. Here’s an overview of how the CryptoNight algorithm works: The combination of memory-bound operations, …
SHA-256 Algorithm The SHA-256 (Secure Hash Algorithm 256-bit) is a widely used cryptographic hash function that belongs to the SHA-2 (Secure Hash Algorithm 2) family. It is commonly employed in various security applications, including digital signatures, password hashing, and data integrity verification. SHA-256 generates a fixed-size 256-bit (32-byte) hash value from an input of arbitrary …
Algorithm For Mining In the context of blockchain technology specifically for coins, SHA-256 and Scrypt are cryptographic hash functions that play significant roles in the mining processes of certain cryptocurrencies. Here’s an overview of these algorithms: 1. SHA-256 (Secure Hash Algorithm 256-bit):SHA-256 is a widely used cryptographic hash function that forms the basis of the …
