This is the most common algorithm; it is used by currencies that picked up and modified Litecoin’s code to run their currencies. Proof of Work promotes fairness in the network and better distribution of coins throughout the community. Proof of Work Mining gives miners a proportionate reward based on the computational power they put into the network. Scrypt Proof of Work algorithms promote healthy economies and higher volume of trade. The problem faced by Scrypt Proof of Work algorithms is the developing arms race as companies begin to release stronger Scrypt ASIC miners. The difficulty of the network continues to rise, and the efficiency of average miners decreases over time and most can not afford to purchase a large volume of the new ASIC hardware.

Showing 1 from 1 Items

Sort by: