BLOCKCHAIN DICTIONARY

Scrypt

July 9, 2020
Definition

Scrypt is an algorithm used to encrypt data in the hashing process. The scrypt algorithm is more memory intensive than the popular SHA-256 algorithm. The scrypt algorithm was originally designed to prevent ASIC mining; however, scrypt ASICs have now been created.

Did you know?

Litecoin, a faster and cheaper version of Bitcoin, uses the Scrypt algorithm for mining.

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