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In cryptography, scrypt (pronounced "ess crypt" [1]) is a password-based key derivation function created by Colin Percival in March 2009, originally for the Tarsnap online backup service. [ 2 ] [ 3 ] The algorithm was specifically designed to make it costly to perform large-scale custom hardware attacks by requiring large amounts of memory.
Scrypt, an alternative proof-of-work algorithm, is used for Litecoin. According to Motherboard, "Scrypt was chosen because it theoretically prevents the use of ASICs, those specialized chips that greatly increase mining power and efficiency (though there is debate over the validity of this claim).". [26]
Scrypt was chosen because it is memory bound rather than CPU bound. [15] Once a user registers with the app, they are issued a unique 128 bit pseudo-random identifier (PUID) by the server. It will be marked inactive until the app solves the PoW challenge with the input parameters of i n p u t = n o n c e | | c h a l l e n g e {\displaystyle ...
Mining hardware is improving at a fast rate, quickly resulting in older generations of hardware. [266] Bitcoin is the least energy-efficient cryptocurrency, using 707.6 kilowatt-hours of electricity per transaction. [267] Before June 2021, China was the primary location for bitcoin mining.
Markus designed Dogecoin's protocol based on existing cryptocurrencies Luckycoin and Litecoin, [15] which use scrypt technology in their proof-of-work algorithm. [16] The use of scrypt means that miners cannot use SHA-256 bitcoin mining equipment, and instead must use dedicated field-programmable gate array and application-specific integrated ...
Argon2 is a key derivation function that was selected as the winner of the 2015 Password Hashing Competition. [1] [2] It was designed by Alex Biryukov, Daniel Dinu, and Dmitry Khovratovich from the University of Luxembourg. [3]
Cloud mining is the process of cryptocurrency mining utilizing a remote data center with shared processing power. [1] Cloud mining has been used by ransomware groups and scammers to launder cryptocurrency. [2] This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware.
He defined memory-hard functions in these terms, and presented scrypt as a specific example, which he used as the key derivation function for Tarsnap. Memory-hard functions have since become an active area of research in cryptography, and scrypt is used as the basis of proof of work in Litecoin [14] and some other cryptocurrencies.