Scrypt Cloud Mining

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Scrypt Cloud Mining

Scrypt Cloud Mining Summary


Another algorithm than SHA 256 is Scrypt. The hashing algorithm is for cryptocurrencies such as Litecoin and Dogecoin. SHA-256 is the hashing algorithm for cryptocurrencies for Bitcoin among other currencies. Individual miners like Scrypt because it requires a large amount of CPU power. However, most mining specialists agree that it’s only a matter of time before ASICs are widely available for Scrypt-based cryptocurrencies.

 

Scrypt coins require less power than the power needed to generate coins based on an SHA-256 proof of work. While you could argue that Scrypt mining has been able to prevent some centralization in the mining network of certain cryptocurrencies, for now, there are still a few more improvements to the mining process that could take ASIC-resistance to the next level.

Scrypt Cloud Mining Providers


There are not so many Scrypt cloud mining providers for the moment.

 

Hashflare offers cloud mining contracts for Scrypt.

 

Nicehash also offers the availability of cloud mining contracts for Scrypt.

 

Eobot also has cloud mining contracts for Scrypt.

 

Read our blog post for Hashflare Scrypt payouts: Bitcoin Cloud Mining Calculator 2016

Scrypt vs SHA-256 Cloud Mining


Scrypt is a more simple and quicker algorithm than SHA-256. More new cryptocurrencies favoring Scrypt over SHA-256. Scrypt is easier to run on existing CPU. Scrypt consume less energy than SHA-256. Scrypt hashrate is usually in KH/s which can be achieved by personal computers without the need for ASIC hardware.

Scrypt Cloud Mining Profitability


Scrypt cloud mining profitability had a huge peak in autumn 2014. We had many different cloud mining contracts at that time. But then suddenly the Scrypt altcoins decreased very fast in price, and the cloud mining contracts were almost worthless. Since then Scrypt cloud mining haven´t really recovered. Litecoin and Dogecoin have been in the shadow for Bitcoin, Ethereum and Ripple.

Scrypt Cloud Mining Summary


Another algorithm than SHA 256 is Scrypt. The hashing algorithm is for cryptocurrencies such as Litecoin and Dogecoin. SHA-256 is the hashing algorithm for cryptocurrencies for Bitcoin among other currencies. Individual miners like Scrypt because it requires a large amount of CPU power. However, most mining specialists agree that it’s only a matter of time before ASICs are widely available for Scrypt-based cryptocurrencies.

 

Scrypt coins require less power than the power needed to generate coins based on an SHA-256 proof of work. While you could argue that Scrypt mining has been able to prevent some centralization in the mining network of certain cryptocurrencies, for now, there are still a few more improvements to the mining process that could take ASIC-resistance to the next level.

Scrypt Cloud Mining Providers


There are not so many Scrypt cloud mining providers for the moment.

 

Hashflare offers cloud mining contracts for Scrypt.

 

Nicehash also offers the availability of cloud mining contracts for Scrypt.

 

Eobot also has cloud mining contracts for Scrypt.

 

Read our blog post for Hashflare Scrypt payouts: Bitcoin Cloud Mining Calculator 2016