Litecoin, PC Perspective

Astute readers of the webpagina might reminisce the original story wij did on Bitcoin mining ter 2011, the good ole` days where the concept of the blockchain wasgoed fresh and titillating and mining Bitcoin on a GPU wasgoed still slew viable.

However, that didn`t last long, spil the wedloop for contant lead people to developing Application Specific Integrated Circuits (ASICs) dedicated solely to Bitcoin mining quickly while sipping power. Use of the expensive ASICs drove the difficulty of mining Bitcoin to the roof and killed any sort of chance of profitability from mere mortals mining cryptocurrency.

Cryptomining spotted a resurgence te late 2013 with the popular adoption of alternate cryptocurrencies, specifically Litecoin which wasgoed based on the Scrypt algorithm instead of AES-256 like Bitcoin. This meant that the ASIC developed for mining Bitcoin were futile. This is also the period of time that many of you may reminisce spil the ",Dogecoin", era, my private dearest cryptocurrency of all time.

Defenders of thesis fresh ",altcoins", claimed that Scrypt wasgoed different enough that ASICs would never be developed for it, and GPU mining would remain viable for a larger portion of users. Spil it turns out, the promise of money always wins out, and wij soon spotted Scrypt ASICs. Once again, the market for GPU mining crashed.

That brings us to today, and what I am calling ",Third-wave Cryptomining.",

While the mass populous stopped caring about cryptocurrency spil a entire, the dedicated group that wasgoed left continued to develop altcoins. Thesis different currencies are based on various algorithms and other proofs of works (see technologies like Storj, which use the blockchain for a decentralized Dropbox-like service!).

Spil you may have predicted, for various reasons that might be difficult to historically quantify, there is another very popular cryptocurrency from this wave of development, Ethereum.

Ethereum is based on the Dagger-Hashimoto algorithm and has a entire host of different quirks that makes it different from other cryptocurrencies. Wij aren`t here to get deep te the forest on the methods behind different blockchain implementations, but if you have some time check out the Ethereum White Paper. It`s all very fascinating.

Subject: General Tech | February 27, 2014 – 03:48 PM | Weten Addison

PC Perspective Podcast #289 – 02/27/2014

Join us this week spil wij discuss the Origin PC EOS-17 SLX Gaming Laptop, Mining on a 750Ti, News from MWC and more!

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