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What is Scrypt? Let’s find out the derivative of Bitcoin

What is Scrypt?

Scrypt is a memory har key-derivation function. A huge amount of RAM is in need to activate this function.

This means that one standard ASIC chip used for “solving Bitcoin SHA-256 Proof of Work” would need to reserve a certain amount of chip space for “Random Access Memory” instead of pure hashing power.

What is Scrypt

What is Scrypt?

Scrypt only impacts the number of random variables which need to be stored compared to SHA-256.

How does Scrypt work?

Scrypt creates many random fake numbers saved in RAM. After that, the computing accesses these numbers sometimes before giving a result. The creating of numbers requires a lot of detail calculations, and when the numbers are accessed, the Scrypt is able to use the RAM memory adding to the hashing power instead of generating them immediately –  a time and memory trade-off in terms of optimising speed.

The main advantage of Scrypt is that it lowers the advantage of ASIC Bitcoin miners in the network. Then, this means that it should be able to attract more miners joining the network and contributing sufficiently to make it worth their while. Another possibility is there is less energy use as the total network power is less.

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