What is a SCRYPT Miner – Blockchain FAQs Explained

In this short section, we will explain what is a SCRYPT miner and indicate its main differences to other mining hardware. 

What is a SCRYPT miner?

A SCRYPT miner is specialized hardware that is specifically used to mine coins encoded with the Scrypt algorithm

It solves mathematical problems on a supported blockchain, in order to discover the next transaction block, and get rewards for the effort provided. 

Similar to Bitcoin’s SHA-256, SCRYPT is an alternative Proof of Work algorithm. The first cryptocurrency to use SCRYPT was Litecoin, in 2011.

It is less complex than SHA-256 but requires much more memory from the miner for efficient problem-solving. 

What is the difference between SCRYPT and ASIC miners?

Although both miners work to solve PoW algorithms, they operate differently: 

  • ASIC miners use the SHA-256 algorithm which favors systems that have the strongest processing power during the mining process. 
  • SCRYPT miners use the scrypt mining algorithm which favors systems with the largest amount of RAM for mining.

So, ASIC miners have a lot more processing power, whereas Scrypt miners have a lot more RAM. 

What cryptocurrencies can you mine with SCRYPT miner?

Here are some of the most popular coins that use SCRYPT: 

  • Litecoin – the first altcoin, aims to be a faster and cheaper Bitcoin. 
  • Dogecoin – a coin that originated from the Doge meme, it gained traction thanks to its low price and fast transactions.
  • ViaCoin – integrates many innovative key technologies such as SegWit, APoW, Lightning Network, etc.
  • GameCredits – gaming coin that offers a blockchain for gaming communities – It is redeemable for e-sports rewards.  

 

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