An algorithm is a code (software) invented by its developer.
Inside this code there will be instructions operations allowing multitudes tasks including the rules inscribed on the inside concerning the mining.
So there are algorithms called “resistant” to ASIC hardware that we can use with GPU (graphics cards).
Two different Cryptos-currencies can use the same algorithm with the technical properties used when mine but can have different properties other (time between each block, reward for 1 block, maximum number of coins for example ).
This list will let you know what you can undermine as crypto-currency by knowing each of the algorithms present.
The Dagger-Hashimoto/Ethash algorithm
This is the algorithm best known for mining with its GPU thanks to the Ethereum, recommended with the AMD RX cards.
A small list of Cryptos available with this algorithm:
- The Ethereum
- The Ethereum Classic
An ASIC has recently existed for the Ethash/Dagger-Hashimoto algorithm but it is not very efficient in + to cost quite expensive.
$2150 without deduction PSU (Power) + shipping and customs charges for a hashrate of 180 Mh/s and a 800W consumption as well as a significant delivery time.
Comparison: A RIG of 6 RX 580 has a cost of €1800 (only cards), a hashrate of 180 Mh/s and an approximate consumption of 900w.
The Equihash algorithm
Algorithm that was known when launching the Zcash, recommended with Nvidia cards or the old AMD, ie the R9 290, HD7990 which are performing both on the algorithms Ethash/Dagger-Hashimoto but also Equihash.
A small list of Cryptos-currencies available with this algorithm:
- Vote Corner
- Safe Corner
An ASIC, the Antminer Z9 Mini exists and buyers will receive it in July 2018 at home.
This ASIC has a huge performance, 10000 sol (H/s) for a consumption of only 300w.
The Neoscrypt algorithm
Algorithm used frequently for Masternodes.
This algorithm is frequently indicated as a resistant ASIC.
Recommended for Nvidia cards, also interesting with AMD graphics cards (Claymore software, mining prerequisite article).
Here for a small list of cryptos-currencies because the list is very long:
You’ll have a longer list on Crypto-coin
The Lyra2Z algorithm
Algorithm that was known when launching the Zcoin, recommended for Nvidia.
ASIC and NiceHash resistant. (more since May 30, 2018 concerning Nicehash.)
- Fine Art
The Cryptonight algorithm
Algorithm known through the Me, it is used on AMD cards.
An ASIC (Bitmain) constructor succeeded in creating an ASIC to undermine Cryptonight.
Monéro said change his algorithm to avoid this problem, we will see if the other Cryptos-currencies using the Cryptonight algorithm will follow the same mindset.
With the writing of its lines, ME has changed its algorithm (= fork) and the name of the algorithm is now CryptonightV7.
All those who bought this ASIC can no longer undermine the crypto-currency me.
A small list of Cryptos available with the Cryptonight knowing that there are several different algorithms (Cryptonight, Cryptonight V7, Cryptonight Lite, Cryptonight Lite V7, Cryptonight Heavy, Cryptonight IPBC, Cryptonight ArtoCash, Cryptonight Alloy
The NIST5 algorithm
Algorithm known thanks to the crypto-currency Bulwark, recommended for Nvidia cards but is no longer interesting because of ASIC.
The Xevan algorithm
Algorithm known through the Solaris crypto-currency, recommended for Nvidia cards.
Resistant ASIC as well as Nicehash resistant.
The X16R/X16S algorithm
Very recent algorithm, known thanks to the crypto-monnaie Ravencoin, this algorithm has the peculiarity of switching between 16 different algorithms during the mining.
Recommended for Nvidia cards.
The C11 algorithm
Very recent algorithm, it has the peculiarity of being ASIC resistant because it uses 11 different algorithms during the mining.
Algorithm that is also NH resistant (NiceHash) The difficulty remains therefore low.
Recommended for Nvidia cards.
- Jolt Gas
We will not make a complete list because there are many others, what interests us is the profitability when we mine.
There are other algorithms such as Blake, Pascal, Skunkhash, Ghost, LBRY, Lyra2REv2 but profitability is lower (normally) compared to the Cryptos mentioned above.
There are a lot of algorithms for mining, probably a hundred.
If you have any questions, if you think it is missing something important to add or correct do not hesitate to write a comment.