Halving refers to the process of reducing the block reward or the amount of cryptocurrency that is awarded to miners for successfully validating a block of transactions on a blockchain. The aim of halving is to slow down the rate at which new coins are introduced into circulation, thereby reducing the inflation rate and maintaining …
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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 …
