Page Summary
Equihash is a memory-hard proof-of-work algorithm. Two students introduced this algorithm during the Distributed System Security Symposium held by the University of Luxembourg in 2016. The algorithm finds colliding hash values by solving the Birthday problem. This is a probability theory stating that in over 50% of cases at least two people will share a birthday in a group of 23 people or more.
Parallel implementations of Equihash are bottle-necked by memory bandwidth. Commercially sold hardware has high memory bandwidth. Improvements to this are not worth the development cost. Cryptocurrencies that use Equihash are ASIC resistant. This means that there is no specific mining hardware for these coins and tokens.
Cryptocurrencies that use Equihash
ZCash, Horizon, Aion, Hush, and Pirate Chain are examples of cryptocurrencies that use Equihash. These cryptocurrencies all use different formulas of Equihash. Although they claimed to be resistant to ASIC mining, mining hardware manufacturer Bitmain succeeded in creating a ZCash Equihash ASIC miner.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…