Crypto Terms:
Letter S
Jul 07, 2023 |
updated: Apr 02, 2024
What is Scrypt?
Scrypt -
an algorithm that is an alternative to Bitcoin's SHA-256 algorithm used in mining.
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Let's find out Scrypt meaning, definition in crypto, what is Scrypt, and all other detailed facts.
Scrypt is a hashing algorithm that is an alternative to Bitcoin's SHA-256 algorithm used in mining. Though the difference is that Scrypt mining focuses more on memory than pure CPU power, with the goal of reducing ASIC advantage and thereby increasing network participation and energy efficiency. It is simply a faster and easier algorithm than SHA-256.